Lexaria Bioscience (NASDAQ:LEXX) Upgraded to Hold at Wall Street Zen

Lexaria Bioscience (NASDAQ:LEXX) was upgraded by stock analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report issued on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Lexaria Bioscience in a research report on Wednesday. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Lexaria Bioscience presently has an average rating of “Hold” and a consensus target price of $4.00.

Lexaria Bioscience Trading Down 2.2%

Shares of Lexaria Bioscience stock opened at $1.10 on Friday. The stock’s fifty day simple moving average is $1.02 and its 200 day simple moving average is $0.98. The company has a market capitalization of $24.34 million, a PE ratio of -1.63 and a beta of 0.71. Lexaria Bioscience has a 12 month low of $0.77 and a 12 month high of $2.85.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Lexaria Bioscience stock. Virtu Financial LLC acquired a new position in shares of Lexaria Bioscience Corp. (NASDAQ:LEXX) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 29,360 shares of the company’s stock, valued at approximately $28,000. Virtu Financial LLC owned approximately 0.13% of Lexaria Bioscience as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 13.06% of the company’s stock.

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.