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.
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