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

Lexaria Bioscience (NASDAQ:LEXX)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a report issued on Monday,Benzinga reports. They currently have a $10.00 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 369.48% from the company’s previous close.

Lexaria Bioscience Stock Performance

Shares of LEXX opened at $2.13 on Monday. The firm has a market cap of $33.70 million, a PE ratio of -4.84 and a beta of 1.02. Lexaria Bioscience has a 52-week low of $1.20 and a 52-week high of $6.85. The business’s 50 day moving average price is $2.69 and its two-hundred day moving average price is $3.01.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of LEXX. Armistice Capital LLC acquired a new position in shares of Lexaria Bioscience during the second quarter valued at about $2,836,000. Geode Capital Management LLC increased its position in Lexaria Bioscience by 31.0% in the 3rd quarter. Geode Capital Management LLC now owns 150,391 shares of the company’s stock valued at $459,000 after buying an additional 35,608 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Lexaria Bioscience during the 2nd quarter worth approximately $63,000. HighTower Advisors LLC bought a new position in Lexaria Bioscience in the third quarter worth approximately $40,000. Finally, XTX Topco Ltd boosted 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 acquiring an additional 6,024 shares in the last quarter. 13.06% of the stock is owned by institutional investors.

About Lexaria Bioscience

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.