Wall Street brokerages expect that Loxo Oncology Inc (NASDAQ:LOXO) will report earnings of ($0.53) per share for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Loxo Oncology’s earnings, with the highest EPS estimate coming in at ($0.07) and the lowest estimate coming in at ($0.98). Loxo Oncology reported earnings of ($0.94) per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 43.6%. The company is expected to report its next quarterly earnings results on Thursday, November 1st.
According to Zacks, analysts expect that Loxo Oncology will report full-year earnings of $7.48 per share for the current year. For the next financial year, analysts anticipate that the company will post earnings of $2.51 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Loxo Oncology.
Loxo Oncology (NASDAQ:LOXO) last posted its earnings results on Thursday, August 9th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.15. The firm had revenue of $42.60 million during the quarter, compared to the consensus estimate of $32.36 million. During the same quarter last year, the firm posted ($0.94) EPS.
Several research analysts recently weighed in on LOXO shares. JMP Securities boosted their price objective on shares of Loxo Oncology from $182.00 to $221.00 and gave the stock a “buy” rating in a research report on Monday, June 4th. BidaskClub upgraded shares of Loxo Oncology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 7th. Stifel Nicolaus boosted their price objective on shares of Loxo Oncology from $190.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, June 4th. William Blair restated a “buy” rating on shares of Loxo Oncology in a research report on Monday, June 4th. Finally, Citigroup boosted their price objective on shares of Loxo Oncology to $235.00 and gave the stock a “buy” rating in a research report on Monday, June 4th. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Loxo Oncology has a consensus rating of “Buy” and a consensus price target of $188.40.
In other Loxo Oncology news, VP Jennifer Burstein sold 1,700 shares of Loxo Oncology stock in a transaction on Tuesday, June 19th. The shares were sold at an average price of $176.99, for a total transaction of $300,883.00. Following the completion of the sale, the vice president now owns 1,700 shares of the company’s stock, valued at approximately $300,883. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Joshua H. Bilenker sold 57,000 shares of Loxo Oncology stock in a transaction on Wednesday, June 20th. The stock was sold at an average price of $178.62, for a total transaction of $10,181,340.00. Following the sale, the chief executive officer now directly owns 127,707 shares of the company’s stock, valued at approximately $22,811,024.34. The disclosure for this sale can be found here. Insiders sold a total of 1,563,096 shares of company stock valued at $279,862,163 in the last 90 days. 17.10% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP grew its holdings in Loxo Oncology by 770.1% during the 1st quarter. Quantbot Technologies LP now owns 931 shares of the biopharmaceutical company’s stock worth $107,000 after acquiring an additional 824 shares during the period. Fortaleza Asset Management Inc. acquired a new stake in Loxo Oncology during the 2nd quarter worth $110,000. IFP Advisors Inc grew its holdings in Loxo Oncology by 509.6% during the 1st quarter. IFP Advisors Inc now owns 1,012 shares of the biopharmaceutical company’s stock worth $117,000 after acquiring an additional 846 shares during the period. First Mercantile Trust Co. acquired a new stake in Loxo Oncology during the 2nd quarter worth $122,000. Finally, Douglass Winthrop Advisors LLC acquired a new stake in Loxo Oncology during the 2nd quarter worth $204,000.
Shares of NASDAQ:LOXO traded up $1.23 during trading on Wednesday, reaching $159.57. The stock had a trading volume of 205,654 shares, compared to its average volume of 447,063. Loxo Oncology has a 52 week low of $71.22 and a 52 week high of $208.95. The stock has a market capitalization of $4.85 billion, a P/E ratio of -30.08 and a beta of 2.32.
About Loxo Oncology
Loxo Oncology, Inc, a biopharmaceutical company, develops and sells medicines for patients with genetically defined cancers in the United States. Its lead product candidate comprises larotrectinib, an oral selective inhibitor of tropomyosin receptor kinase (TRK), which is in adult Phase 1 trial, a pediatric Phase 1/2 trial, and an adult/adolescent Phase 2 trial for the treatment of patients with tumor types, such as lung, head and neck, melanoma, colorectal, sarcoma, and breast cancer.
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