Liminal BioSciences Inc. (NASDAQ:LMNL) Expected to Post Earnings of -$0.44 Per Share

Wall Street analysts forecast that Liminal BioSciences Inc. (NASDAQ:LMNL) will announce earnings per share of ($0.44) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Liminal BioSciences’ earnings, with the highest EPS estimate coming in at ($0.35) and the lowest estimate coming in at ($0.53). Liminal BioSciences posted earnings per share of ($0.86) during the same quarter last year, which indicates a positive year over year growth rate of 48.8%. The business is expected to announce its next quarterly earnings results on Monday, August 9th.

On average, analysts expect that Liminal BioSciences will report full year earnings of ($0.58) per share for the current financial year, with EPS estimates ranging from ($1.39) to $0.37. For the next fiscal year, analysts expect that the company will report earnings of ($1.19) per share, with EPS estimates ranging from ($1.55) to ($0.66). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Liminal BioSciences.

Liminal BioSciences (NASDAQ:LMNL) last posted its earnings results on Sunday, May 16th. The company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.05). The business had revenue of $0.17 million during the quarter, compared to the consensus estimate of $0.74 million. Liminal BioSciences had a negative return on equity of 457.84% and a negative net margin of 4,581.80%.

A number of equities analysts have commented on the stock. Leede Jones Gab reaffirmed a “hold” rating on shares of Liminal BioSciences in a research note on Friday, March 26th. HC Wainwright downgraded shares of Liminal BioSciences from a “buy” rating to a “neutral” rating in a research report on Thursday, June 24th. Finally, Piper Sandler cut shares of Liminal BioSciences from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $22.00 to $4.50 in a research note on Tuesday, June 1st. One investment analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. Liminal BioSciences has a consensus rating of “Hold” and an average price target of $7.08.

Liminal BioSciences stock traded down $0.05 during mid-day trading on Thursday, reaching $3.34. 100 shares of the company traded hands, compared to its average volume of 220,503. Liminal BioSciences has a fifty-two week low of $3.27 and a fifty-two week high of $24.56. The company has a fifty day moving average price of $4.12. The company has a current ratio of 2.41, a quick ratio of 2.21 and a debt-to-equity ratio of 4.47.

Several institutional investors have recently made changes to their positions in the company. Armistice Capital LLC acquired a new stake in Liminal BioSciences in the 4th quarter worth approximately $2,374,000. Jane Street Group LLC bought a new stake in shares of Liminal BioSciences during the fourth quarter valued at approximately $48,000. Virtu Financial LLC increased its position in shares of Liminal BioSciences by 138.8% during the fourth quarter. Virtu Financial LLC now owns 35,273 shares of the company’s stock valued at $148,000 after purchasing an additional 20,501 shares during the period. Finally, Morgan Stanley grew its position in Liminal BioSciences by 468.8% in the first quarter. Morgan Stanley now owns 8,817 shares of the company’s stock valued at $37,000 after acquiring an additional 7,267 shares during the period. Institutional investors and hedge funds own 0.25% of the company’s stock.

About Liminal BioSciences

Liminal BioSciences Inc, a clinical-stage biopharmaceutical company, focuses on discovery, development, and commercialization of novel small molecule drug candidates for the treatment of patients suffering from respiratory fibrotic diseases and other fibrotic or inflammatory diseases that have high unmet medical needs.

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Earnings History and Estimates for Liminal BioSciences (NASDAQ:LMNL)

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