Lexaria Bioscience (NASDAQ:LEXX) Receives Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Lexaria Bioscience (NASDAQ:LEXX) in a report issued on Monday,Benzinga reports. They currently have a $10.00 price target on the stock.

Lexaria Bioscience Price Performance

Shares of NASDAQ LEXX opened at $2.15 on Monday. Lexaria Bioscience has a 1 year low of $1.20 and a 1 year high of $6.85. The company’s 50-day moving average is $2.69 and its 200 day moving average is $3.01. The stock has a market capitalization of $34.01 million, a P/E ratio of -4.89 and a beta of 1.02.

Hedge Funds Weigh In On Lexaria Bioscience

Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new position in shares of Lexaria Bioscience during the second quarter valued at about $63,000. Armistice Capital LLC purchased a new stake in Lexaria Bioscience in the second quarter worth about $2,836,000. Geode Capital Management LLC grew its holdings in Lexaria Bioscience by 31.0% in the third quarter. Geode Capital Management LLC now owns 150,391 shares of the company’s stock worth $459,000 after purchasing an additional 35,608 shares during the period. HighTower Advisors LLC purchased a new stake in Lexaria Bioscience in the third quarter worth about $40,000. Finally, XTX Topco Ltd grew its holdings in Lexaria Bioscience by 47.8% in the third quarter. XTX Topco Ltd now owns 18,626 shares of the company’s stock worth $57,000 after purchasing an additional 6,024 shares during the period. Hedge funds and other institutional investors own 13.06% of the company’s stock.

Lexaria Bioscience Company Profile

Lexaria Bioscience Corp. operates as a biotechnology company. It develops and out-licenses its patented drug delivery technology, DehydraTECH, which combines lipophilic molecules or active pharmaceutical ingredients with specific long-chain fatty acids and carrier compounds that improve the way they enter the bloodstream, increasing their effectiveness and allowing for lower overall dosing while promoting healthier oral ingestion methods.