Wall Street brokerages expect Loxo Oncology Inc (NASDAQ:LOXO) to announce earnings per share (EPS) of ($0.60) for the current quarter, Zacks reports. Five analysts have issued estimates for Loxo Oncology’s earnings, with the lowest EPS estimate coming in at ($1.12) and the highest estimate coming in at ($0.07). Loxo Oncology reported earnings of ($0.94) per share during the same quarter last year, which indicates a positive year over year growth rate of 36.2%. The firm is scheduled to report its next earnings report 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 forecast that the company will report earnings of $2.51 per share. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Loxo Oncology.
Loxo Oncology (NASDAQ:LOXO) last posted its earnings results on Thursday, August 9th. The biopharmaceutical company reported ($0.39) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.54) by $0.15. The company had revenue of $42.60 million during the quarter, compared to analysts’ expectations of $32.36 million. During the same period in the prior year, the business posted ($0.94) earnings per share.
Several research firms have recently commented on LOXO. Zacks Investment Research cut shares of Loxo Oncology from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. Guggenheim began coverage on shares of Loxo Oncology in a research report on Monday, September 17th. They issued a “neutral” rating for the company. Cowen reaffirmed a “buy” rating on shares of Loxo Oncology in a research report on Sunday. Piper Jaffray Companies set a $200.00 target price on shares of Loxo Oncology and gave the stock a “buy” rating in a research report on Sunday. Finally, William Blair reaffirmed a “buy” rating on shares of Loxo Oncology in a research report on Monday. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $187.83.
NASDAQ:LOXO opened at $159.60 on Friday. Loxo Oncology has a 12 month low of $71.45 and a 12 month high of $208.95. The stock has a market capitalization of $5.21 billion, a PE ratio of -30.06 and a beta of 2.26.
In other Loxo Oncology news, CEO Joshua H. Bilenker sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, July 10th. The shares were sold at an average price of $183.48, for a total transaction of $2,752,200.00. Following the completion of the sale, the chief executive officer now directly owns 142,907 shares in the company, valued at approximately $26,220,576.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Joshua H. Bilenker sold 20,000 shares of the firm’s stock in a transaction dated Thursday, October 4th. The shares were sold at an average price of $164.94, for a total transaction of $3,298,800.00. Following the sale, the chief executive officer now owns 145,407 shares of the company’s stock, valued at $23,983,430.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,520,582 shares of company stock valued at $271,318,297. 17.10% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Fortaleza Asset Management Inc. bought a new stake in Loxo Oncology during the 2nd quarter valued at about $110,000. First Mercantile Trust Co. bought a new stake in Loxo Oncology during the 2nd quarter valued at about $122,000. Quantbot Technologies LP increased its stake in Loxo Oncology by 770.1% during the 1st quarter. Quantbot Technologies LP now owns 931 shares of the biopharmaceutical company’s stock valued at $107,000 after purchasing an additional 824 shares in the last quarter. IFP Advisors Inc increased its stake in Loxo Oncology by 509.6% during the 1st quarter. IFP Advisors Inc now owns 1,012 shares of the biopharmaceutical company’s stock valued at $117,000 after purchasing an additional 846 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC bought a new stake in Loxo Oncology during the 2nd quarter valued at about $204,000. Institutional investors and hedge funds own 97.44% of the company’s stock.
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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