H.C. Wainwright lowered the firm’s price target on Lexaria Bioscience (LEXX) to $5 from $7 and keeps a Buy rating on the shares. In April, the company closed a registered direct offering for 2M common shares at $1 per share for gross proceeds of $2M, notes the analyst, who believes that the company will need to raise additional capital within the next 12 months to fund operations.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LEXX:
- Lexaria Bioscience Achieves 50 Patents Milestone with New International Grants
- Lexaria Bioscience receives two international patents
- Lexaria’s Oral Liraglutide Shows Promise in Reducing Adverse Events
- Lexaria Bioscience announces completion of GLP-1-H25-5 study
- Lexaria Bioscience to Engage with Industry Leaders at BIO International Convention