$120,000.00 in Sales Expected for Liminal BioSciences Inc. (NASDAQ:LMNL) This Quarter

Equities research analysts expect Liminal BioSciences Inc. (NASDAQ:LMNL) to report $120,000.00 in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Liminal BioSciences’ earnings, with the lowest sales estimate coming in at $20,000.00 and the highest estimate coming in at $210,000.00. Liminal BioSciences posted sales of $480,000.00 during the same quarter last year, which suggests a negative year over year growth rate of 75%. The business is expected to report its next earnings report on Thursday, November 11th.

On average, analysts expect that Liminal BioSciences will report full-year sales of $33.51 million for the current fiscal year, with estimates ranging from $360,000.00 to $70.47 million. For the next year, analysts forecast that the firm will report sales of $15.59 million, with estimates ranging from $3.23 million to $27.94 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover Liminal BioSciences.

Liminal BioSciences (NASDAQ:LMNL) last announced its earnings results on Sunday, August 15th. The company reported ($1.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.53) by ($0.54). Liminal BioSciences had a negative return on equity of 457.84% and a negative net margin of 6,157.81%.

Several brokerages have commented on LMNL. Piper Sandler lowered shares of Liminal BioSciences from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $22.00 to $4.50 in a research note on Tuesday, June 1st. HC Wainwright lowered shares of Liminal BioSciences from a “buy” rating to a “neutral” rating in a research report on Thursday, June 24th. Finally, Zacks Investment Research raised Liminal BioSciences from a “hold” rating to a “buy” rating and set a $2.50 target price for the company in a report on Thursday, August 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Liminal BioSciences presently has an average rating of “Hold” and a consensus target price of $6.00.

NASDAQ:LMNL traded down $0.18 during mid-day trading on Monday, hitting $2.52. The stock had a trading volume of 87,244 shares, compared to its average volume of 996,101. The stock has a 50-day simple moving average of $2.81 and a two-hundred day simple moving average of $3.77. The company has a market capitalization of $75.46 million, a PE ratio of -0.77 and a beta of 1.74. Liminal BioSciences has a twelve month low of $2.13 and a twelve month high of $12.13. The company has a current ratio of 2.37, a quick ratio of 2.37 and a debt-to-equity ratio of 4.47.

A hedge fund recently raised its stake in Liminal BioSciences stock. Morgan Stanley lifted its position in shares of Liminal BioSciences Inc. (NASDAQ:LMNL) by 468.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,817 shares of the company’s stock after acquiring an additional 7,267 shares during the period. Morgan Stanley’s holdings in Liminal BioSciences were worth $37,000 at the end of the most recent reporting period. 0.67% of the stock is owned by hedge funds and other institutional investors.

Liminal BioSciences Company Profile

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.

See Also: How analysts view the yield curve

Get a free copy of the Zacks research report on Liminal BioSciences (LMNL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Liminal BioSciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Liminal BioSciences and related companies with MarketBeat.com's FREE daily email newsletter.