Analysts forecast that Loxo Oncology (NASDAQ:LOXO) will post $23.30 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Loxo Oncology’s earnings, with the highest sales estimate coming in at $25.00 million and the lowest estimate coming in at $21.60 million. The company is scheduled to report its next earnings results on Tuesday, May 8th.
According to Zacks, analysts expect that Loxo Oncology will report full year sales of $204.41 million for the current year, with estimates ranging from $2.90 million to $363.10 million. For the next year, analysts expect that the company will report sales of $161.46 million per share, with estimates ranging from $15.60 million to $272.20 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Loxo Oncology.
Loxo Oncology (NASDAQ:LOXO) last posted its quarterly earnings data on Thursday, March 1st. The biopharmaceutical company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.53. The firm had revenue of $21.30 million during the quarter.
LOXO has been the subject of a number of research reports. BidaskClub upgraded Loxo Oncology from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Zacks Investment Research upgraded Loxo Oncology from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Morgan Stanley cut Loxo Oncology from an “overweight” rating to an “equal weight” rating and set a $103.00 price objective for the company. in a report on Wednesday, March 21st. They noted that the move was a valuation call. CIBC initiated coverage on Loxo Oncology in a report on Thursday, February 22nd. They issued an “outperform” rating and a $132.00 price objective for the company. Finally, ValuEngine upgraded Loxo Oncology from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Twelve equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $131.89.
Shares of LOXO traded down $0.39 during midday trading on Tuesday, reaching $133.06. The stock had a trading volume of 211,675 shares, compared to its average volume of 384,246. Loxo Oncology has a 12-month low of $42.11 and a 12-month high of $138.54. The stock has a market capitalization of $3,996.32, a P/E ratio of -25.06 and a beta of 2.32.
In other Loxo Oncology news, Director Avi Z. Naider sold 15,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 141,118 shares of the company’s stock, valued at approximately $14,111,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jennifer Burstein sold 1,700 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $131.33, for a total value of $223,261.00. Following the transaction, the vice president now directly owns 1,700 shares of the company’s stock, valued at approximately $223,261. The disclosure for this sale can be found here. In the last three months, insiders sold 54,564 shares of company stock valued at $6,005,345. 44.40% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. QS Investors LLC bought a new position in Loxo Oncology during the 4th quarter valued at approximately $118,000. Xact Kapitalforvaltning AB bought a new position in Loxo Oncology during the 4th quarter valued at approximately $208,000. Cambridge Investment Research Advisors Inc. raised its position in Loxo Oncology by 26.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 2,917 shares of the biopharmaceutical company’s stock valued at $246,000 after purchasing an additional 617 shares during the last quarter. Great West Life Assurance Co. Can raised its position in Loxo Oncology by 195.8% during the 3rd quarter. Great West Life Assurance Co. Can now owns 2,958 shares of the biopharmaceutical company’s stock valued at $275,000 after purchasing an additional 1,958 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in Loxo Oncology during the 4th quarter valued at approximately $323,000.
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Loxo Oncology Company Profile
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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