Zacks Small Cap Comments on Lexaria Bioscience Corp.’s FY2024 Earnings (NASDAQ:LEXX)

Posted by Kim Johansen on May 1st, 2024

Lexaria Bioscience Corp. (NASDAQ:LEXX – Free Report) – Equities research analysts at Zacks Small Cap increased their FY2024 earnings per share (EPS) estimates for shares of Lexaria Bioscience in a report issued on Monday, April 29th. Zacks Small Cap analyst J. Vandermosten now anticipates that the company will earn ($0.46) per share for the year, up from their previous forecast of ($0.60). The consensus estimate for Lexaria Bioscience’s current full-year earnings is ($0.60) per share. Zacks Small Cap also issued estimates for Lexaria Bioscience’s FY2025 earnings at ($0.41) EPS.

Separately, Maxim Group upped their target price on Lexaria Bioscience from $3.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th.

Check Out Our Latest Report on Lexaria Bioscience

Lexaria Bioscience Stock Performance

Shares of LEXX stock opened at $3.09 on Wednesday. Lexaria Bioscience has a twelve month low of $0.65 and a twelve month high of $6.85. The business has a fifty day simple moving average of $3.15 and a 200 day simple moving average of $2.07.

Hedge Funds Weigh In On Lexaria Bioscience

A number of institutional investors and hedge funds have recently bought and sold shares of LEXX. Armistice Capital LLC acquired a new position in Lexaria Bioscience in the 3rd quarter worth about $889,000. Cowen AND Company LLC acquired a new position in Lexaria Bioscience in the 4th quarter worth about $320,000. Finally, Welch Group LLC acquired a new stake in shares of Lexaria Bioscience in the first quarter valued at about $87,000. Institutional investors and hedge funds own 13.06% of the company’s stock.

Lexaria Bioscience Company Profile

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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.