Brokerages Expect Loxo Oncology Inc (LOXO) Will Post Quarterly Sales of $49.79 Million

Equities research analysts expect Loxo Oncology Inc (NASDAQ:LOXO) to announce sales of $49.79 million for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Loxo Oncology’s earnings, with the lowest sales estimate coming in at $45.40 million and the highest estimate coming in at $62.53 million. Loxo Oncology reported sales of $21.30 million during the same quarter last year, which indicates a positive year over year growth rate of 133.8%. The firm is scheduled to report its next quarterly earnings results on Thursday, March 7th.

On average, analysts expect that Loxo Oncology will report full year sales of $168.43 million for the current year, with estimates ranging from $139.37 million to $186.03 million. For the next year, analysts forecast that the firm will post sales of $181.86 million, with estimates ranging from $15.60 million to $425.59 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Loxo Oncology.

Loxo Oncology (NASDAQ:LOXO) last posted its quarterly earnings data on Thursday, November 8th. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.24). Loxo Oncology had a negative return on equity of 16.42% and a negative net margin of 43.49%. The business had revenue of $42.47 million for the quarter, compared to analysts’ expectations of $38.55 million. During the same quarter in the prior year, the firm earned ($2.45) earnings per share.

LOXO has been the subject of a number of research analyst reports. Piper Jaffray Companies set a $200.00 price target on Loxo Oncology and gave the company a “buy” rating in a report on Sunday, October 7th. Cowen restated a “buy” rating on shares of Loxo Oncology in a research report on Sunday, October 7th. Stifel Nicolaus reduced their price objective on Loxo Oncology from $225.00 to $217.00 and set a “buy” rating for the company in a research report on Friday, August 10th. Zacks Investment Research upgraded Loxo Oncology from a “hold” rating to a “buy” rating and set a $189.00 price objective for the company in a research report on Saturday, August 4th. Finally, Cann restated a “buy” rating and set a $202.00 price objective on shares of Loxo Oncology in a research report on Monday, September 17th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $190.31.

In other Loxo Oncology news, CEO Joshua H. Bilenker sold 20,000 shares of the business’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $166.20, for a total transaction of $3,324,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jennifer Burstein sold 2,500 shares of the business’s stock in a transaction on Thursday, October 4th. The stock was sold at an average price of $164.92, for a total value of $412,300.00. Following the transaction, the vice president now owns 1,250 shares of the company’s stock, valued at approximately $206,150. The disclosure for this sale can be found here. Insiders have sold a total of 70,000 shares of company stock valued at $11,618,850 in the last quarter. 17.10% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. First Mercantile Trust Co. bought a new stake in shares of Loxo Oncology in the 2nd quarter worth $122,000. Douglass Winthrop Advisors LLC bought a new stake in shares of Loxo Oncology in the 2nd quarter worth $204,000. Zeke Capital Advisors LLC bought a new stake in shares of Loxo Oncology in the 2nd quarter worth $208,000. Commonwealth Equity Services LLC bought a new stake in shares of Loxo Oncology in the 2nd quarter worth $209,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Loxo Oncology in the 2nd quarter worth $211,000. Institutional investors own 95.58% of the company’s stock.

Shares of NASDAQ LOXO traded up $3.08 during trading on Friday, reaching $153.26. The stock had a trading volume of 136,029 shares, compared to its average volume of 313,747. Loxo Oncology has a one year low of $71.45 and a one year high of $208.95. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of -28.86 and a beta of 2.26.

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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