Loxo Oncology, Inc. (LOXO) Receives $92.00 Consensus Price Target from Brokerages
Loxo Oncology, Inc. (NASDAQ:LOXO) has earned an average rating of “Buy” from the ten brokerages that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $92.00.
A number of brokerages have issued reports on LOXO. BTIG Research reissued a “buy” rating and set a $102.00 price objective (up from $75.00) on shares of Loxo Oncology in a research report on Friday, September 29th. Cowen and Company reaffirmed a “buy” rating on shares of Loxo Oncology in a research report on Thursday, September 28th. Morgan Stanley reaffirmed an “overweight” rating and issued a $103.00 target price (up from $95.00) on shares of Loxo Oncology in a research report on Friday, October 6th. Citigroup Inc. reiterated a “buy” rating and issued a $112.00 price target (up previously from $86.00) on shares of Loxo Oncology in a research note on Friday, October 20th. Finally, Ifs Securities upgraded shares of Loxo Oncology from an “outperform” rating to a “strong-buy” rating in a research note on Tuesday, November 14th.
In related news, Director Avi Z. Naider sold 5,000 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were 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 154,118 shares of the company’s stock, valued at approximately $13,870,620. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Orbimed Advisors Llc sold 270,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $74.26, for a total transaction of $20,050,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 336,814 shares of company stock valued at $25,873,803 in the last ninety days. Insiders own 44.40% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. 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. grew its holdings in Loxo Oncology by 20.6% during the 2nd quarter. BlackRock Inc. now owns 1,602,885 shares of the biopharmaceutical company’s stock valued at $128,534,000 after buying an additional 273,291 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Loxo Oncology by 50.2% during the 2nd quarter. Alliancebernstein L.P. now owns 936,790 shares of the biopharmaceutical company’s stock valued at $75,121,000 after buying an additional 312,988 shares in the last quarter. Vanguard Group Inc. grew its holdings in Loxo Oncology by 24.7% during the 2nd quarter. Vanguard Group Inc. now owns 914,719 shares of the biopharmaceutical company’s stock valued at $73,351,000 after buying an additional 181,471 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in Loxo Oncology by 372.0% during the 2nd quarter. Lord Abbett & CO. LLC now owns 739,540 shares of the biopharmaceutical company’s stock valued at $59,304,000 after buying an additional 582,862 shares in the last quarter.
Shares of Loxo Oncology (NASDAQ LOXO) traded up $0.33 during trading on Monday, reaching $75.64. 215,300 shares of the company’s stock traded hands, compared to its average volume of 370,157. Loxo Oncology has a twelve month low of $25.25 and a twelve month high of $95.92.
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Loxo Oncology Company Profile
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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