Loxo Oncology (LOXO) Lifted to “Sell” at BidaskClub

BidaskClub upgraded shares of Loxo Oncology (NASDAQ:LOXO) from a strong sell rating to a sell rating in a research report report published on Tuesday.

A number of other equities analysts have also recently commented on the company. JMP Securities cut Loxo Oncology from an outperform rating to a market perform rating and decreased their target price for the stock from $83.12 to $17.14 in a report on Tuesday, August 29th. They noted that the move was a valuation call. Morgan Stanley reissued an overweight rating and set a $103.00 price target (up from $95.00) on shares of Loxo Oncology in a report on Friday, October 6th. Citigroup decreased their price target on Loxo Oncology from $112.00 to $108.00 and set a buy rating on the stock in a report 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, William Blair started coverage on Loxo Oncology in a report on Tuesday, November 28th. They set an outperform rating on the stock. Two analysts have rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Loxo Oncology currently has a consensus rating of Buy and a consensus price target of $90.57.

Shares of Loxo Oncology (LOXO) traded up $0.60 during trading on Tuesday, reaching $82.95. The company had a trading volume of 567,700 shares, compared to its average volume of 373,288. Loxo Oncology has a one year low of $26.11 and a one year high of $95.92.

In other news, Director Orbimed Advisors Llc sold 270,000 shares of Loxo Oncology stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $74.26, for a total value of $20,050,200.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Avi Z. Naider sold 5,000 shares of Loxo Oncology stock in a transaction dated Monday, September 18th. The stock was 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 directly owns 149,118 shares in the company, valued at $13,420,620. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,368,596 shares of company stock worth $105,047,356. Insiders own 44.40% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Legal & General Group Plc increased its holdings in shares of Loxo Oncology by 8.4% in the first quarter. Legal & General Group Plc now owns 3,682 shares of the biopharmaceutical company’s stock worth $154,000 after purchasing an additional 284 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in shares of 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 during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Loxo Oncology by 3.8% in the second quarter. Wells Fargo & Company MN now owns 16,095 shares of the biopharmaceutical company’s stock worth $1,291,000 after purchasing an additional 592 shares during the last quarter. New York State Common Retirement Fund increased its holdings in shares of Loxo Oncology by 2.9% in the third quarter. New York State Common Retirement Fund now owns 25,097 shares of the biopharmaceutical company’s stock worth $2,312,000 after purchasing an additional 700 shares during the last quarter. Finally, California State Teachers Retirement System increased its holdings in shares of Loxo Oncology by 3.1% in the third quarter. California State Teachers Retirement System now owns 36,594 shares of the biopharmaceutical company’s stock worth $3,371,000 after purchasing an additional 1,094 shares during the last quarter.

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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.

Analyst Recommendations for Loxo Oncology (NASDAQ:LOXO)

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