Loxo Oncology, Inc. (LOXO) Receives Average Rating of “Buy” from Analysts
Loxo Oncology, Inc. (NASDAQ:LOXO) has earned an average recommendation of “Buy” from the nine analysts that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $79.20.
Several research analysts recently commented on LOXO shares. Zacks Investment Research raised Loxo Oncology from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Wednesday, May 3rd. Citigroup Inc. raised Loxo Oncology from a “neutral” rating to a “buy” rating and set a $86.00 target price for the company in a research report on Monday, June 5th. Stifel Nicolaus raised their target price on Loxo Oncology from $52.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, June 5th. Cowen and Company reaffirmed an “outperform” rating on shares of Loxo Oncology in a research report on Monday, June 5th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $75.00 target price on shares of Loxo Oncology in a research report on Tuesday, June 6th.
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Loxo Oncology (NASDAQ LOXO) traded up 1.13% during mid-day trading on Friday, reaching $73.26. 217,440 shares of the company traded hands. Loxo Oncology has a 52-week low of $17.14 and a 52-week high of $83.12. The stock has a 50 day moving average price of $75.16 and a 200-day moving average price of $54.80. The company’s market capitalization is $2.19 billion.
Loxo Oncology (NASDAQ:LOXO) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($0.99) by $0.15. During the same period in the previous year, the company earned ($0.77) earnings per share. Analysts expect that Loxo Oncology will post ($4.34) EPS for the current fiscal year.
In other Loxo Oncology news, Director Keith T. Flaherty sold 7,250 shares of Loxo Oncology stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $45.09, for a total transaction of $326,902.50. Following the completion of the transaction, the director now directly owns 27,141 shares of the company’s stock, valued at $1,223,787.69. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 44.40% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of LOXO. Legal & General Group Plc boosted its position 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 buying an additional 284 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of 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 buying an additional 2,194 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Loxo Oncology during the second quarter worth about $228,000. Marshall Wace LLP bought a new position in shares of Loxo Oncology during the second quarter worth about $233,000. Finally, Jasper Ridge Partners L.P. bought a new position in shares of Loxo Oncology during the second quarter worth about $277,000.
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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