Lexaria Bioscience (NASDAQ:LEXX) Stock Price Down 9.6% – Should You Sell?

Lexaria Bioscience Corp. (NASDAQ:LEXX – Get Free Report)’s stock price fell 9.6% during trading on Tuesday . The stock traded as low as $2.98 and last traded at $3.21. 123,674 shares traded hands during mid-day trading, an increase of 12% from the average session volume of 110,026 shares. The stock had previously closed at $3.55.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Lexaria Bioscience from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, July 24th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lexaria Bioscience has a consensus rating of “Hold” and an average price target of $22.50.

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Lexaria Bioscience Price Performance

The firm has a market capitalization of $5.28 million, a price-to-earnings ratio of -0.63 and a beta of 0.50. The business’s 50-day moving average price is $8.50 and its 200 day moving average price is $9.96.

Lexaria Bioscience (NASDAQ:LEXX – Get Free Report) last released its quarterly earnings results on Monday, July 13th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.02). As a group, sell-side analysts expect that Lexaria Bioscience Corp. will post -4.05 earnings per share for the current year.

About Lexaria Bioscience

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Lexaria Bioscience Corp. (NASDAQ: LEXX) is a biotech company specializing in the development and commercialization of proprietary drug delivery platforms. The company’s flagship technology, DehydraTECH, is designed to improve the oral bioavailability, onset time and overall efficiency of active molecules such as cannabinoids, nicotine and other lipophilic compounds. Lexaria’s platform seeks to address absorption challenges commonly associated with oral delivery by enhancing the rate and extent at which compounds enter the bloodstream.

Founded in 2014 and headquartered in Kelowna, British Columbia, Lexaria operates in the pharmaceutical, nutraceutical and consumer product markets.

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