Loxo Oncology’s (NASDAQ:LOXO) “Buy” Rating Reaffirmed at Stifel Nicolaus
Loxo Oncology, Inc. (NASDAQ:LOXO)‘s stock had its “buy” rating restated by investment analysts at Stifel Nicolaus in a note issued to investors on Thursday. They currently have a $94.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $71.00. Stifel Nicolaus’ price objective would suggest a potential upside of 26.06% from the company’s current price.
A number of other equities research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of Loxo Oncology from a “hold” rating to a “buy” rating and set a $82.00 price objective on the stock in a report on Wednesday. BidaskClub cut shares of Loxo Oncology from a “hold” rating to a “sell” rating in a report on Friday, August 4th. BTIG Research reiterated a “buy” rating and set a $75.00 price target on shares of Loxo Oncology in a report on Thursday, August 3rd. Morgan Stanley reiterated an “overweight” rating and set a $91.00 price target on shares of Loxo Oncology in a report on Monday, June 19th. Finally, Cowen and Company reiterated an “outperform” rating on shares of Loxo Oncology in a report on Monday, June 5th. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company. Loxo Oncology has a consensus rating of “Buy” and a consensus target price of $79.67.
Loxo Oncology (NASDAQ LOXO) opened at 74.57 on Thursday. Loxo Oncology has a 1-year low of $17.14 and a 1-year high of $83.12. The firm’s market cap is $1.95 billion. The firm’s 50-day moving average price is $75.35 and its 200-day moving average price is $53.58.
Loxo Oncology (NASDAQ:LOXO) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.14) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.99) by $0.15. During the same period last year, the firm posted ($0.77) EPS. Equities research analysts anticipate that Loxo Oncology will post ($4.21) earnings per share for the current fiscal year.
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In other news, Director Keith T. Flaherty sold 7,250 shares of the stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $45.09, for a total transaction of $326,902.50. Following the sale, the director now owns 27,141 shares in the company, valued at $1,223,787.69. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 27.80% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. State Street Corp boosted its stake in Loxo Oncology by 2.1% in the fourth quarter. State Street Corp now owns 214,321 shares of the biopharmaceutical company’s stock worth $6,882,000 after buying an additional 4,360 shares during the last quarter. Teachers Advisors LLC boosted its stake in Loxo Oncology by 4.3% in the fourth quarter. Teachers Advisors LLC now owns 22,139 shares of the biopharmaceutical company’s stock worth $711,000 after buying an additional 905 shares during the last quarter. Candriam Luxembourg S.C.A. boosted its stake in Loxo Oncology by 28.8% in the first quarter. Candriam Luxembourg S.C.A. now owns 103,000 shares of the biopharmaceutical company’s stock worth $4,334,000 after buying an additional 23,000 shares during the last quarter. Nationwide Fund Advisors boosted its stake in Loxo Oncology by 31.9% in the first quarter. Nationwide Fund Advisors now owns 27,434 shares of the biopharmaceutical company’s stock worth $1,154,000 after buying an additional 6,632 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Loxo Oncology by 33.3% in the first quarter. Wells Fargo & Company MN now owns 15,503 shares of the biopharmaceutical company’s stock worth $653,000 after buying an additional 3,875 shares during the last quarter.
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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