Loxo Oncology (LOXO) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Loxo Oncology (NASDAQ:LOXO) from a sell rating to a hold rating in a report released on Tuesday morning.

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. “

Several other brokerages have also recently commented on LOXO. BTIG Research restated a buy rating and set a $102.00 price objective (up from $75.00) on shares of Loxo Oncology in a research note on Friday, September 29th. Cowen restated a buy rating on shares of Loxo Oncology in a research note on Thursday, September 28th. 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. BidaskClub upgraded shares of Loxo Oncology from a sell rating to a hold rating in a research note on Friday, December 22nd. Finally, Citigroup restated a buy rating and set a $112.00 price objective (up from $86.00) on shares of Loxo Oncology in a research note on Friday, October 20th. Two research analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and an average price target of $90.57.

Shares of Loxo Oncology (NASDAQ:LOXO) traded up $1.13 during midday trading on Tuesday, reaching $89.99. 440,691 shares of the company’s stock traded hands, compared to its average volume of 304,844. Loxo Oncology has a twelve month low of $36.75 and a twelve month high of $95.92. The firm has a market cap of $2,690.00, a PE ratio of -15.49 and a beta of 2.54.

In other news, Director Avi Z. Naider sold 5,000 shares of Loxo Oncology stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $90.00, for a total transaction of $450,000.00. Following the completion of the transaction, the director now directly owns 144,118 shares of the company’s stock, valued at approximately $12,970,620. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Naarden Jacob Van sold 1,541 shares of Loxo Oncology stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $86.52, for a total transaction of $133,327.32. Following the transaction, the insider now directly owns 1,541 shares of the company’s stock, valued at $133,327.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,614,555 shares of company stock valued at $124,567,942. Insiders own 27.80% of the company’s stock.

Several large investors have recently bought and sold shares of the company. FMR LLC increased its holdings in Loxo Oncology by 12.1% in the 2nd quarter. FMR LLC now owns 4,394,827 shares of the biopharmaceutical company’s stock worth $352,420,000 after acquiring an additional 472,814 shares in the last quarter. BlackRock Inc. increased its holdings in Loxo Oncology by 20.6% in the 2nd quarter. BlackRock Inc. now owns 1,602,885 shares of the biopharmaceutical company’s stock worth $128,534,000 after acquiring an additional 273,291 shares in the last quarter. Alliancebernstein L.P. increased its holdings in Loxo Oncology by 50.2% in the 2nd quarter. Alliancebernstein L.P. now owns 936,790 shares of the biopharmaceutical company’s stock worth $75,121,000 after acquiring an additional 312,988 shares in the last quarter. Vanguard Group Inc. increased its holdings in Loxo Oncology by 24.7% in the 2nd quarter. Vanguard Group Inc. now owns 914,719 shares of the biopharmaceutical company’s stock worth $73,351,000 after acquiring an additional 181,471 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its holdings in Loxo Oncology by 372.0% in the 2nd quarter. Lord Abbett & CO. LLC now owns 739,540 shares of the biopharmaceutical company’s stock worth $59,304,000 after acquiring an additional 582,862 shares in the last quarter. 99.98% of the stock is owned by hedge funds and other institutional investors.

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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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