$23.30 Million in Sales Expected for Loxo Oncology (LOXO) This Quarter

Wall Street brokerages expect that Loxo Oncology (NASDAQ:LOXO) will post $23.30 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Loxo Oncology’s earnings. The lowest sales estimate is $21.60 million and the highest is $25.00 million. The company is expected to issue its next earnings report on Tuesday, May 8th.

According to Zacks, analysts expect that Loxo Oncology will report full-year sales of $204.41 million for the current fiscal year, with estimates ranging from $2.90 million to $363.10 million. For the next year, analysts anticipate that the company will post sales of $161.46 million per share, with estimates ranging from $15.60 million to $272.20 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Loxo Oncology.

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Loxo Oncology (NASDAQ:LOXO) last posted its earnings results on Thursday, March 1st. The biopharmaceutical company reported ($0.69) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.22) by $0.53. The company had revenue of $21.30 million during the quarter.

A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded Loxo Oncology from a “hold” rating to a “buy” rating and set a $148.00 target price on the stock in a report on Friday, March 9th. William Blair restated a “buy” rating on shares of Loxo Oncology in a report on Monday. Morgan Stanley upgraded Loxo Oncology from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $130.00 to $170.00 in a report on Monday. Citigroup restated a “buy” rating and issued a $151.00 target price (up previously from $108.00) on shares of Loxo Oncology in a report on Monday, March 5th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $135.00 target price on shares of Loxo Oncology in a report on Friday, March 2nd. Twelve research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $131.89.

LOXO stock opened at $133.45 on Tuesday. Loxo Oncology has a twelve month low of $42.11 and a twelve month high of $136.52. The company has a market capitalization of $3,693.90, a PE ratio of -25.13 and a beta of 2.32.

In related news, Director Avi Z. Naider sold 15,000 shares of Loxo Oncology stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $100.00, for a total transaction of $1,500,000.00. Following the sale, the director now directly owns 141,118 shares in the company, valued at $14,111,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Naarden Jacob Van sold 3,082 shares of Loxo Oncology stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $131.41, for a total value of $405,005.62. Following the sale, the insider now owns 1,541 shares in the company, valued at $202,502.81. The disclosure for this sale can be found here. Insiders have sold 72,646 shares of company stock worth $7,600,358 over the last quarter. 27.80% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of the stock. Teachers Advisors LLC lifted its holdings in Loxo Oncology by 1.3% during the fourth quarter. Teachers Advisors LLC now owns 41,592 shares of the biopharmaceutical company’s stock worth $3,501,000 after acquiring an additional 541 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in Loxo Oncology by 26.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 2,917 shares of the biopharmaceutical company’s stock worth $246,000 after acquiring an additional 617 shares during the period. New York State Common Retirement Fund lifted its holdings in Loxo Oncology by 2.9% during the third quarter. New York State Common Retirement Fund now owns 25,097 shares of the biopharmaceutical company’s stock worth $2,312,000 after acquiring an additional 700 shares during the period. California State Teachers Retirement System lifted its holdings in Loxo Oncology by 3.1% during the third quarter. California State Teachers Retirement System now owns 36,594 shares of the biopharmaceutical company’s stock worth $3,371,000 after acquiring an additional 1,094 shares during the period. Finally, QS Investors LLC bought a new stake in Loxo Oncology during the fourth quarter worth $118,000.

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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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