Zacks: Analysts Expect Loxo Oncology, Inc. (LOXO) to Announce -$1.01 Earnings Per Share
Brokerages forecast that Loxo Oncology, Inc. (NASDAQ:LOXO) will announce earnings of ($1.01) per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Loxo Oncology’s earnings. The highest EPS estimate is ($0.97) and the lowest is ($1.05). Loxo Oncology reported earnings per share of ($0.77) during the same quarter last year, which would suggest a negative year-over-year growth rate of 31.2%. The company is expected to issue its next quarterly earnings report on Wednesday, August 2nd.
According to Zacks, analysts expect that Loxo Oncology will report full-year earnings of ($4.28) per share for the current year, with EPS estimates ranging from ($4.51) to ($3.90). For the next year, analysts anticipate that the business will report earnings of ($3.92) per share, with EPS estimates ranging from ($4.67) to ($2.83). Zacks’ earnings per share averages are an average based on a survey of research analysts that cover Loxo Oncology.
Loxo Oncology (NASDAQ:LOXO) last issued its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($0.96) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.76) by $0.20.
A number of research firms recently issued reports on LOXO. Zacks Investment Research raised Loxo Oncology from a “sell” rating to a “hold” rating in a research report on Thursday, June 8th. Morgan Stanley reaffirmed an “overweight” rating and issued a $91.00 target price on shares of Loxo Oncology in a research report on Monday. BTIG Research reaffirmed a “buy” rating and issued a $75.00 target price on shares of Loxo Oncology in a research report on Tuesday, June 6th. Cowen and Company reaffirmed an “outperform” rating on shares of Loxo Oncology in a research report on Monday, June 5th. Finally, Stifel Nicolaus lifted their target price on Loxo Oncology from $52.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, June 5th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Loxo Oncology currently has an average rating of “Buy” and an average target price of $70.83.
Shares of Loxo Oncology (NASDAQ:LOXO) traded up 2.02% on Friday, hitting $80.17. The stock had a trading volume of 900,548 shares. The firm’s 50 day moving average is $54.92 and its 200-day moving average is $43.90. The stock’s market capitalization is $2.10 billion. Loxo Oncology has a one year low of $17.14 and a one year high of $80.47.
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In other Loxo Oncology news, Director Keith T. Flaherty sold 7,250 shares of the business’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $45.09, for a total transaction of $326,902.50. Following the transaction, the director now owns 27,141 shares of the company’s stock, valued at $1,223,787.69. The sale was disclosed in a document filed with the SEC, which is available through this link. 44.40% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the company. Aisling Capital LLC boosted its stake in shares of Loxo Oncology by 4.0% in the first quarter. Aisling Capital LLC now owns 4,188,920 shares of the biopharmaceutical company’s stock worth $176,270,000 after buying an additional 160,000 shares in the last quarter. FMR LLC boosted its stake in shares of Loxo Oncology by 20.6% in the first quarter. FMR LLC now owns 3,922,013 shares of the biopharmaceutical company’s stock worth $165,039,000 after buying an additional 670,306 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Loxo Oncology by 34.4% in the first quarter. Wellington Management Group LLP now owns 2,437,872 shares of the biopharmaceutical company’s stock worth $102,587,000 after buying an additional 623,730 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Loxo Oncology by 42.8% in the first quarter. Vanguard Group Inc. now owns 733,248 shares of the biopharmaceutical company’s stock worth $30,856,000 after buying an additional 219,837 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Loxo Oncology by 6,330.9% in the first quarter. Alliancebernstein L.P. now owns 623,802 shares of the biopharmaceutical company’s stock worth $26,250,000 after buying an additional 614,102 shares in the last quarter.
Loxo Oncology Company Profile
Loxo Oncology, Inc is a biopharmaceutical company. The Company is focused on development of medicines for patients with genetically defined cancers. The Company’s pipeline focuses on cancers that are dependent on single gene abnormalities, such that a single drug has the potential to treat the cancer with dramatic effect.
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