Loxo Oncology (NASDAQ:LOXO) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued on Thursday.
LOXO has been the subject of several other reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $135.00 price objective on shares of Loxo Oncology in a research report on Friday, March 2nd. Cann reaffirmed a “buy” rating and set a $122.00 price objective on shares of Loxo Oncology in a research report on Thursday, March 1st. Zacks Investment Research raised shares of Loxo Oncology from a “hold” rating to a “buy” rating and set a $148.00 price objective for the company in a research report on Friday, March 9th. Citigroup reaffirmed a “buy” rating and set a $151.00 price objective (up from $108.00) on shares of Loxo Oncology in a research report on Monday, March 5th. Finally, William Blair reaffirmed a “buy” rating on shares of Loxo Oncology in a research report on Monday, April 16th. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Loxo Oncology has an average rating of “Buy” and an average target price of $176.40.
Loxo Oncology opened at $173.48 on Thursday, Marketbeat.com reports. The firm has a market capitalization of $5.11 billion, a price-to-earnings ratio of -32.67 and a beta of 2.45. Loxo Oncology has a 52 week low of $69.00 and a 52 week high of $208.95.
Loxo Oncology (NASDAQ:LOXO) last posted its quarterly earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($0.12) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.01. The business had revenue of $38.43 million during the quarter, compared to analyst estimates of $12.72 million. During the same quarter last year, the firm earned ($0.96) EPS. sell-side analysts forecast that Loxo Oncology will post 0.91 EPS for the current year.
In related news, VP Jennifer Burstein sold 1,700 shares of the business’s stock in a transaction on Tuesday, April 24th. The shares were sold at an average price of $131.65, for a total value of $223,805.00. Following the completion of the sale, the vice president now directly owns 1,700 shares of the company’s stock, valued at $223,805. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Joshua H. Bilenker sold 57,000 shares of the business’s stock in a transaction on Wednesday, June 20th. The shares were sold at an average price of $178.62, for a total transaction of $10,181,340.00. Following the completion of the sale, the chief executive officer now directly owns 127,707 shares of the company’s stock, valued at $22,811,024.34. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 153,878 shares of company stock valued at $25,611,475. Corporate insiders own 17.10% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Brown Advisory Inc. purchased a new stake in Loxo Oncology in the first quarter valued at $244,000. Suntrust Banks Inc. purchased a new stake in Loxo Oncology in the first quarter valued at $277,000. WINTON GROUP Ltd purchased a new stake in Loxo Oncology in the first quarter valued at $961,000. Xact Kapitalforvaltning AB lifted its position in Loxo Oncology by 28.4% in the first quarter. Xact Kapitalforvaltning AB now owns 3,165 shares of the biopharmaceutical company’s stock valued at $365,000 after acquiring an additional 700 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Loxo Oncology by 90.4% in the first quarter. Millennium Management LLC now owns 15,398 shares of the biopharmaceutical company’s stock valued at $1,776,000 after acquiring an additional 7,312 shares during the last quarter.
Loxo Oncology Company Profile
Loxo Oncology, Inc, a biopharmaceutical company, develops and sells medicines for patients with genetically defined cancers in the United States. Its lead product candidate comprises larotrectinib, an oral selective inhibitor of tropomyosin receptor kinase (TRK), which is in adult Phase 1 trial, a pediatric Phase 1/2 trial, and an adult/adolescent Phase 2 trial for the treatment of patients with tumor types, such as lung, head and neck, melanoma, colorectal, sarcoma, and breast cancer.
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