Loxo Oncology, Inc. (LOXO) Given Consensus Recommendation of “Buy” by Brokerages
Shares of Loxo Oncology, Inc. (NASDAQ:LOXO) have been assigned a consensus recommendation of “Buy” from the ten research firms that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $73.36.
Several analysts have recently commented on LOXO shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $91.00 price objective on shares of Loxo Oncology in a report on Monday, June 19th. Zacks Investment Research raised shares of Loxo Oncology from a “sell” rating to a “hold” rating in a report on Thursday, June 8th. Ifs Securities reaffirmed an “outperform” rating on shares of Loxo Oncology in a report on Tuesday, August 8th. Stifel Nicolaus upped their price objective on shares of Loxo Oncology from $52.00 to $71.00 and gave the company a “buy” rating in a report on Monday, June 5th. Finally, Citigroup Inc. raised shares of Loxo Oncology from a “neutral” rating to a “buy” rating and set a $86.00 price objective on the stock in a report on Monday, June 5th.
In related news, VP Jennifer Burstein sold 1,700 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $73.73, for a total value of $125,341.00. Following the completion of the transaction, the vice president now directly owns 1,700 shares in the company, valued at approximately $125,341. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Avi Z. Naider sold 5,000 shares of the business’s stock in a transaction on Wednesday, September 13th. 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 owns 154,118 shares of the company’s stock, valued at $13,870,620. The disclosure for this sale can be found here. Over the last quarter, insiders sold 84,896 shares of company stock valued at $6,865,562. Company insiders own 44.40% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. lifted its stake in shares of Loxo Oncology by 31.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,758 shares of the biopharmaceutical company’s stock valued at $141,000 after purchasing an additional 419 shares during the period. Legal & General Group Plc raised its position in Loxo Oncology by 8.4% during the first quarter. Legal & General Group Plc now owns 3,682 shares of the biopharmaceutical company’s stock worth $154,000 after acquiring an additional 284 shares during the period. BNP Paribas Arbitrage SA raised its position in Loxo Oncology by 4,388.0% during the second quarter. BNP Paribas Arbitrage SA now owns 2,244 shares of the biopharmaceutical company’s stock worth $180,000 after acquiring an additional 2,194 shares during the period. SG Americas Securities LLC acquired a new position in Loxo Oncology during the second quarter worth $228,000. Finally, Marshall Wace LLP acquired a new position in Loxo Oncology during the second quarter worth $233,000.
Loxo Oncology (LOXO) traded down 1.00% on Friday, reaching $92.12. 319,832 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $77.03 and a 200 day moving average price of $61.97. Loxo Oncology has a 12-month low of $17.14 and a 12-month high of $95.92. The stock’s market cap is $2.75 billion.
Loxo Oncology (NASDAQ:LOXO) last released its quarterly earnings data 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 quarter last year, the firm earned ($0.77) EPS. Analysts forecast that Loxo Oncology will post ($4.54) EPS for the current year.
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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