Lexaria Bioscience (NASDAQ:LEXX) Given “Buy” Rating at HC Wainwright

Lexaria Bioscience (NASDAQ:LEXX)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research note issued to investors on Monday,Benzinga reports. They currently have a $10.00 price target on the stock. HC Wainwright’s target price points to a potential upside of 270.37% from the stock’s current price.

Lexaria Bioscience Trading Up 20.5 %

Shares of NASDAQ:LEXX opened at $2.70 on Monday. Lexaria Bioscience has a 12 month low of $1.20 and a 12 month high of $6.85. The company has a market capitalization of $47.12 million, a price-to-earnings ratio of -5.74 and a beta of 0.99. The firm’s 50-day moving average is $2.58 and its 200 day moving average is $2.97.

Insider Transactions at Lexaria Bioscience

In other Lexaria Bioscience news, CEO Richard Christopher acquired 22,828 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were bought at an average price of $2.24 per share, with a total value of $51,134.72. Following the transaction, the chief executive officer now directly owns 22,828 shares of the company’s stock, valued at $51,134.72. The trade was a ? increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 26.40% of the company’s stock.

Institutional Trading of Lexaria Bioscience

A number of large investors have recently made changes to their positions in LEXX. Renaissance Technologies LLC purchased a new position in Lexaria Bioscience in the 2nd quarter worth about $63,000. Armistice Capital LLC bought a new position in Lexaria Bioscience in the 2nd quarter worth about $2,836,000. Geode Capital Management LLC increased its position in shares of Lexaria Bioscience by 31.0% during the third quarter. Geode Capital Management LLC now owns 150,391 shares of the company’s stock worth $459,000 after acquiring an additional 35,608 shares during the period. HighTower Advisors LLC purchased a new stake in shares of Lexaria Bioscience in the third quarter valued at approximately $40,000. Finally, XTX Topco Ltd grew its stake 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 in the last quarter. 13.06% of the stock is owned by hedge funds and other 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.