Zacks: Analysts Anticipate Loxo Oncology, Inc. (LOXO) Will Post Earnings of -$1.27 Per Share

Wall Street brokerages forecast that Loxo Oncology, Inc. (NASDAQ:LOXO) will report earnings per share of ($1.27) for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Loxo Oncology’s earnings. The lowest EPS estimate is ($1.48) and the highest is ($1.16). Loxo Oncology reported earnings of ($1.28) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 0.8%. The business is expected to issue its next quarterly earnings report on Tuesday, March 6th.

According to Zacks, analysts expect that Loxo Oncology will report full year earnings of ($5.91) per share for the current fiscal year, with EPS estimates ranging from ($6.15) to ($5.74). For the next financial year, analysts anticipate that the firm will report earnings of ($5.10) per share, with EPS estimates ranging from ($6.31) to ($4.45). Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for Loxo Oncology.

A number of research analysts have commented on LOXO shares. Morgan Stanley reiterated an “overweight” rating and set a $103.00 price objective (up from $95.00) on shares of Loxo Oncology in a research note on Friday, October 6th. William Blair started coverage on shares of Loxo Oncology in a research note on Tuesday, November 28th. They set an “outperform” rating on the stock. Zacks Investment Research downgraded shares of Loxo Oncology from a “hold” rating to a “sell” rating in a research note on Friday, December 1st. JMP Securities upgraded shares of Loxo Oncology from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $77.18 to $95.00 in a research note on Tuesday, November 14th. Finally, Citigroup reduced their price objective on shares of Loxo Oncology from $112.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, November 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $90.57.

In other news, Director Timothy M. Mayleben sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $80.49, for a total value of $804,900.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Orbimed Advisors Llc sold 270,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $74.26, for a total transaction of $20,050,200.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,614,555 shares of company stock worth $124,567,942. Insiders own 27.80% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in LOXO. Lord Abbett & CO. LLC increased its holdings in shares of Loxo Oncology by 372.0% in the 2nd quarter. Lord Abbett & CO. LLC now owns 739,540 shares of the biopharmaceutical company’s stock worth $59,304,000 after acquiring an additional 582,862 shares during the period. FMR LLC increased its holdings in shares of Loxo Oncology by 12.1% in the 2nd quarter. FMR LLC now owns 4,394,827 shares of the biopharmaceutical company’s stock worth $352,420,000 after acquiring an additional 472,814 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Loxo Oncology by 50.2% in the 2nd quarter. Alliancebernstein L.P. now owns 936,790 shares of the biopharmaceutical company’s stock worth $75,121,000 after acquiring an additional 312,988 shares during the period. BlackRock Inc. increased its holdings in shares of Loxo Oncology by 20.6% in the 2nd quarter. BlackRock Inc. now owns 1,602,885 shares of the biopharmaceutical company’s stock worth $128,534,000 after acquiring an additional 273,291 shares during the period. Finally, Voya Investment Management LLC increased its holdings in shares of Loxo Oncology by 3,757.2% in the 2nd quarter. Voya Investment Management LLC now owns 236,177 shares of the biopharmaceutical company’s stock worth $18,939,000 after acquiring an additional 230,054 shares during the period. 99.98% of the stock is currently owned by institutional investors and hedge funds.

Loxo Oncology (NASDAQ LOXO) traded down $1.79 during midday trading on Wednesday, reaching $84.71. 263,000 shares of the company’s stock were exchanged, compared to its average volume of 412,179. Loxo Oncology has a 12-month low of $30.51 and a 12-month high of $95.92. The company has a market cap of $2,540.00, a P/E ratio of -14.58 and a beta of 2.54.

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About Loxo Oncology

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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