Zacks: Brokerages Anticipate Loxo Oncology, Inc. (LOXO) Will Announce Earnings of -$1.29 Per Share
Analysts expect Loxo Oncology, Inc. (NASDAQ:LOXO) to post earnings of ($1.29) per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Loxo Oncology’s earnings. The lowest EPS estimate is ($1.48) and the highest is ($1.19). Loxo Oncology reported earnings of ($1.28) per share during the same quarter last year, which indicates a negative year over year growth rate of 0.8%. The business is scheduled to announce 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 year. For the next financial year, analysts forecast that the firm will report earnings of ($4.72) per share, with EPS estimates ranging from ($6.31) to ($3.13). Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that follow Loxo Oncology.
Several brokerages have recently weighed in on LOXO. Ifs Securities upgraded shares of Loxo Oncology from an “outperform” rating to a “strong-buy” rating in a research note on Tuesday. Citigroup Inc. restated a “buy” rating and issued a $112.00 price objective (up previously from $86.00) on shares of Loxo Oncology in a research report on Friday, October 20th. Morgan Stanley reaffirmed an “overweight” rating and issued a $103.00 target price (up from $95.00) on shares of Loxo Oncology in a report on Friday, October 6th. BTIG Research reaffirmed a “buy” rating and issued a $102.00 target price (up from $75.00) on shares of Loxo Oncology in a report on Friday, September 29th. Finally, Cowen and Company reissued a “buy” rating on shares of Loxo Oncology in a research note on Thursday, September 28th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $80.02.
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Loxo Oncology (NASDAQ LOXO) traded up $2.05 during midday trading on Friday, reaching $83.23. 209,400 shares of the company’s stock traded hands, compared to its average volume of 352,100. Loxo Oncology has a one year low of $25.25 and a one year high of $95.92.
In other news, Director Avi Z. Naider sold 5,000 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $90.00, for a total value of $450,000.00. Following the completion of the sale, the director now owns 154,118 shares of the company’s stock, valued at approximately $13,870,620. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Naarden Jacob Van sold 1,541 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $89.20, for a total transaction of $137,457.20. Following the completion of the sale, the insider now directly owns 1,541 shares of the company’s stock, valued at approximately $137,457.20. The disclosure for this sale can be found here. Insiders have sold a total of 76,814 shares of company stock worth $6,548,261 in the last 90 days. Company insiders own 27.80% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new stake in shares of Loxo Oncology during the 3rd quarter valued at about $122,000. Ameritas Investment Partners Inc. boosted its stake in Loxo Oncology by 31.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,758 shares of the biopharmaceutical company’s stock valued at $141,000 after purchasing an additional 419 shares during the period. Legal & General Group Plc boosted its stake in Loxo Oncology by 8.4% during the 1st quarter. Legal & General Group Plc now owns 3,682 shares of the biopharmaceutical company’s stock valued at $154,000 after purchasing an additional 284 shares during the period. BNP Paribas Arbitrage SA boosted its stake in Loxo Oncology by 4,388.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,244 shares of the biopharmaceutical company’s stock valued at $180,000 after purchasing an additional 2,194 shares during the period. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Loxo Oncology during the 3rd quarter valued at about $212,000. 99.31% of the stock is owned by institutional investors and hedge funds.
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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