Loxo Oncology (LOXO) Lifted to “Hold” at BidaskClub
BidaskClub upgraded shares of Loxo Oncology (NASDAQ:LOXO) from a sell rating to a hold rating in a report released on Friday.
LOXO has been the subject of several other research reports. Citigroup cut their price objective on Loxo Oncology from $112.00 to $108.00 and set a buy rating for the company in a report on Thursday, November 16th. Morgan Stanley restated an overweight rating and issued a $103.00 price target (up previously from $95.00) on shares of Loxo Oncology in a research note on Friday, October 6th. BTIG Research restated a buy rating and issued a $102.00 price target (up previously from $75.00) on shares of Loxo Oncology in a research note on Friday, September 29th. JMP Securities upgraded Loxo Oncology from a market perform rating to an outperform rating and increased their price target for the company from $77.18 to $95.00 in a research note on Tuesday, November 14th. Finally, Ifs Securities upgraded Loxo Oncology from an outperform rating to a strong-buy rating in a research note on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Loxo Oncology presently has a consensus rating of Buy and an average target price of $90.57.
Shares of Loxo Oncology (NASDAQ:LOXO) opened at $87.00 on Friday. The company has a market capitalization of $2,498.58, a P/E ratio of -14.92 and a beta of 2.54. Loxo Oncology has a twelve month low of $30.51 and a twelve month high of $95.92.
In other Loxo Oncology news, VP Jennifer Burstein sold 1,700 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $87.19, for a total transaction of $148,223.00. Following the transaction, the vice president now owns 1,700 shares in the company, valued at approximately $148,223. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy M. Mayleben sold 10,000 shares of the stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $80.49, for a total value of $804,900.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,614,555 shares of company stock worth $124,567,942. 44.40% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of LOXO. Quantbot Technologies LP bought a new position in Loxo Oncology during the 3rd quarter worth $122,000. Ameritas Investment Partners Inc. increased its position in Loxo Oncology by 31.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,758 shares of the biopharmaceutical company’s stock worth $141,000 after buying an additional 419 shares during the period. BNP Paribas Arbitrage SA increased its position in Loxo Oncology by 4,388.0% during the 2nd 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 period. Cambridge Investment Research Advisors Inc. bought a new position in Loxo Oncology during the 3rd quarter worth $212,000. Finally, SG Americas Securities LLC bought a new position in Loxo Oncology during the 2nd quarter worth $228,000. Hedge funds and other institutional investors own 99.98% of the company’s stock.
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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