Equities analysts forecast that Loxo Oncology Inc (NASDAQ:LOXO) will post $49.75 million in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Loxo Oncology’s earnings, with estimates ranging from $45.40 million to $62.26 million. Loxo Oncology posted sales of $21.30 million during the same quarter last year, which would indicate a positive year over year growth rate of 133.6%. The company is expected to report its next quarterly earnings report on Thursday, March 7th.
According to Zacks, analysts expect that Loxo Oncology will report full year sales of $150.65 million for the current year, with estimates ranging from $26.48 million to $185.76 million. For the next fiscal year, analysts anticipate that the business will post sales of $179.67 million, with estimates ranging from $15.60 million to $406.74 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Loxo Oncology.
Loxo Oncology (NASDAQ:LOXO) last issued its quarterly earnings data on Thursday, November 8th. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.24). The company had revenue of $42.47 million during the quarter, compared to analysts’ expectations of $38.55 million. Loxo Oncology had a negative net margin of 43.49% and a negative return on equity of 16.42%. During the same quarter last year, the firm posted ($2.45) earnings per share.
Several research firms have weighed in on LOXO. Citigroup downgraded Loxo Oncology from a “buy” rating to a “neutral” rating in a research report on Tuesday. Ifs Securities downgraded Loxo Oncology from an “outperform” rating to a “market perform” rating in a research report on Monday. Leerink Swann downgraded Loxo Oncology from an “outperform” rating to a “market perform” rating in a research report on Monday. BidaskClub raised Loxo Oncology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 29th. Finally, Zacks Investment Research downgraded Loxo Oncology from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. Six research analysts have rated the stock with a hold rating, ten have assigned a buy rating and three have issued a strong buy rating to the stock. Loxo Oncology presently has a consensus rating of “Buy” and a consensus price target of $193.46.
LOXO traded up $0.11 on Thursday, hitting $232.51. The company had a trading volume of 3,047,676 shares, compared to its average volume of 3,552,124. The firm has a market cap of $4.28 billion, a P/E ratio of -43.79 and a beta of 1.93. Loxo Oncology has a 1 year low of $83.70 and a 1 year high of $233.76.
In other Loxo Oncology news, insider Naarden Jacob Van sold 10,000 shares of the company’s stock in a transaction on Tuesday, November 27th. The stock was sold at an average price of $147.97, for a total value of $1,479,700.00. Following the sale, the insider now owns 19,200 shares of the company’s stock, valued at $2,841,024. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jennifer Burstein sold 2,500 shares of the company’s stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $147.68, for a total value of $369,200.00. Following the completion of the sale, the vice president now directly owns 1,250 shares in the company, valued at approximately $184,600. The disclosure for this sale can be found here. Insiders sold 64,000 shares of company stock valued at $9,061,875 in the last quarter. 17.10% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. boosted its stake in shares of Loxo Oncology by 16.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 129,016 shares of the biopharmaceutical company’s stock valued at $22,382,000 after acquiring an additional 18,041 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Loxo Oncology by 15.5% during the second quarter. BlackRock Inc. now owns 2,095,164 shares of the biopharmaceutical company’s stock valued at $363,468,000 after acquiring an additional 280,475 shares during the last quarter. Tekla Capital Management LLC boosted its stake in shares of Loxo Oncology by 137.3% during the third quarter. Tekla Capital Management LLC now owns 24,595 shares of the biopharmaceutical company’s stock valued at $4,202,000 after acquiring an additional 14,230 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Loxo Oncology during the second quarter valued at $454,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Loxo Oncology during the second quarter valued at $348,000. 96.50% of the stock is currently owned by institutional investors.
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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