Zacks Investment Research downgraded shares of Loxo Oncology (NASDAQ:LOXO) from a hold rating to a sell rating in a report published on Wednesday morning.

According to Zacks, “Loxo Oncology, Inc. is a biopharmaceutical company. It develops targeted small molecule therapeutics for the treatment of cancer in genetically defined patient populations. Loxo Oncology, Inc. is headquartered in Stamford, Connecticut. “

Several other brokerages also recently weighed in on LOXO. BidaskClub raised shares of Loxo Oncology from a buy rating to a strong-buy rating in a research note on Saturday, July 7th. Cann reaffirmed an average rating and set a $202.00 target price (up from $122.00) on shares of Loxo Oncology in a research note on Thursday, July 12th. Piper Jaffray Companies set a $200.00 target price on shares of Loxo Oncology and gave the stock a buy rating in a research note on Wednesday, September 26th. Goldman Sachs Group began coverage on shares of Loxo Oncology in a research note on Monday, September 17th. They set a neutral rating and a $165.00 target price on the stock. Finally, Leerink Swann began coverage on shares of Loxo Oncology in a research note on Monday, September 24th. They set an outperform rating and a $205.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Loxo Oncology presently has an average rating of Buy and an average target price of $188.92.

Shares of Loxo Oncology stock traded down $7.54 on Wednesday, reaching $159.98. The company had a trading volume of 352,628 shares, compared to its average volume of 299,568. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of -30.13 and a beta of 2.25. Loxo Oncology has a 52-week low of $71.45 and a 52-week high of $208.95.

Loxo Oncology (NASDAQ:LOXO) last announced its earnings results on Thursday, August 9th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.15. The business had revenue of $42.60 million for the quarter, compared to analysts’ expectations of $32.36 million. During the same period in the previous year, the company earned ($0.94) earnings per share. As a group, equities research analysts forecast that Loxo Oncology will post -2.47 earnings per share for the current year.

In other Loxo Oncology news, VP Jennifer Burstein sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $159.24, for a total value of $398,100.00. Following the sale, the vice president now directly owns 1,250 shares of the company’s stock, valued at approximately $199,050. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Naarden Jacob Van sold 10,000 shares of the stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $165.13, for a total transaction of $1,651,300.00. Following the completion of the sale, the insider now directly owns 19,200 shares in the company, valued at $3,170,496. The disclosure for this sale can be found here. Over the last three months, insiders sold 102,500 shares of company stock worth $16,798,550. Insiders own 17.10% of the company’s stock.

Large investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. increased its position in shares of Loxo Oncology by 16.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 129,016 shares of the biopharmaceutical company’s stock valued at $22,382,000 after purchasing an additional 18,041 shares during the last quarter. BlackRock Inc. increased its position in shares of Loxo Oncology by 15.5% in the 2nd quarter. BlackRock Inc. now owns 2,095,164 shares of the biopharmaceutical company’s stock valued at $363,468,000 after purchasing an additional 280,475 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Loxo Oncology in the 2nd quarter valued at approximately $454,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Loxo Oncology in the 2nd quarter valued at approximately $348,000. Finally, Stevens Capital Management LP purchased a new stake in shares of Loxo Oncology in the 2nd quarter valued at approximately $519,000. 97.22% of the stock is currently owned by institutional investors.

About Loxo Oncology

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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