HC Wainwright Reaffirms Buy Rating for Lexaria Bioscience (NASDAQ:LEXX)

Lexaria Bioscience (NASDAQ:LEXX)‘s stock had its “buy” rating reissued by equities research analysts at HC Wainwright in a research note issued on Monday,Benzinga reports. They currently have a $10.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 378.47% from the stock’s current price.

Lexaria Bioscience Trading Down 3.2 %

Shares of LEXX opened at $2.09 on Monday. The company has a market capitalization of $33.06 million, a PE ratio of -4.75 and a beta of 1.02. Lexaria Bioscience has a 12 month low of $1.20 and a 12 month high of $6.85. The stock’s 50-day moving average price is $2.71 and its two-hundred day moving average price is $3.02.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in LEXX. HighTower Advisors LLC acquired a new position in shares of Lexaria Bioscience in the 3rd quarter valued at about $40,000. XTX Topco Ltd lifted its stake in shares of Lexaria Bioscience by 47.8% in the 3rd quarter. XTX Topco Ltd now owns 18,626 shares of the company’s stock valued at $57,000 after purchasing an additional 6,024 shares during the period. Renaissance Technologies LLC acquired a new position in shares of Lexaria Bioscience in the 2nd quarter valued at about $63,000. Geode Capital Management LLC lifted its stake in shares of 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 purchasing an additional 35,608 shares during the period. Finally, Armistice Capital LLC acquired a new position in shares of Lexaria Bioscience in the 2nd quarter valued at about $2,836,000. 13.06% of the stock is owned by institutional investors and hedge funds.

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.