Loxo Oncology (NASDAQ:LOXO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday, December 1st.
According to Zacks, “Loxo Oncology, Inc. is a biopharmaceutical company. It develops targeted small molecule therapeutics for the treatment of cancer in genetically defined patient populations. Loxo Oncology, Inc. is headquartered in Stamford, Connecticut. “
A number of other equities research analysts have also recently issued reports on LOXO. JMP Securities cut Loxo Oncology from an “outperform” rating to a “market perform” rating and cut their target price for the company from $83.12 to $17.14 in a research note on Tuesday, August 29th. They noted that the move was a valuation call. Morgan Stanley restated an “overweight” rating and set a $103.00 price objective (up from $95.00) on shares of Loxo Oncology in a research note on Friday, October 6th. Citigroup cut their price objective on shares of Loxo Oncology from $112.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, November 16th. Ifs Securities raised Loxo Oncology from an “outperform” rating to a “strong-buy” rating in a report on Tuesday, November 14th. Finally, BTIG Research reissued a “buy” rating and issued a $75.00 price target on shares of Loxo Oncology in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $90.57.
Loxo Oncology (LOXO) opened at $82.71 on Friday. Loxo Oncology has a 1-year low of $25.25 and a 1-year high of $95.92.
In other Loxo Oncology news, CEO Joshua H. Bilenker sold 15,000 shares of Loxo Oncology stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $89.02, for a total value of $1,335,300.00. Following the transaction, the chief executive officer now directly owns 196,207 shares of the company’s stock, valued at approximately $17,466,347.14. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David P. Bonita sold 250,000 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $82.50, for a total value of $20,625,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,368,596 shares of company stock valued at $105,047,356. Corporate insiders own 27.80% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Quantbot Technologies LP acquired a new position in Loxo Oncology in the third quarter worth $122,000. Ameritas Investment Partners Inc. boosted its stake in Loxo Oncology by 31.3% in the second quarter. Ameritas Investment Partners Inc. now owns 1,758 shares of the biopharmaceutical company’s stock worth $141,000 after purchasing an additional 419 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Loxo Oncology by 4,388.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,244 shares of the biopharmaceutical company’s stock worth $180,000 after purchasing an additional 2,194 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Loxo Oncology in the third quarter worth $212,000. Finally, SG Americas Securities LLC acquired a new position in Loxo Oncology in the second quarter worth $228,000.
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About Loxo Oncology
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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