Pioneer Investment Management Inc. Buys New Stake in Loxo Oncology, Inc. (LOXO)
Pioneer Investment Management Inc. bought a new position in shares of Loxo Oncology, Inc. (NASDAQ:LOXO) during the second quarter, Holdings Channel reports. The institutional investor bought 101,660 shares of the biopharmaceutical company’s stock, valued at approximately $8,152,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LOXO. Pictet Asset Management Ltd. bought a new position in Loxo Oncology during the second quarter worth $9,622,000. TD Asset Management Inc. bought a new position in Loxo Oncology during the second quarter worth $779,000. Suffolk Capital Management LLC bought a new position in Loxo Oncology during the second quarter worth $1,039,000. Spark Investment Management LLC bought a new position in Loxo Oncology during the second quarter worth $1,692,000. Finally, Goldman Sachs Group Inc. increased its position in Loxo Oncology by 4.9% in the first quarter. Goldman Sachs Group Inc. now owns 44,178 shares of the biopharmaceutical company’s stock worth $1,860,000 after buying an additional 2,045 shares in the last quarter.
Loxo Oncology, Inc. (NASDAQ LOXO) opened at 73.26 on Friday. Loxo Oncology, Inc. has a 12-month low of $17.14 and a 12-month high of $83.12. The company’s market capitalization is $2.19 billion. The company has a 50-day moving average of $75.16 and a 200 day moving average of $54.80.
Loxo Oncology (NASDAQ:LOXO) last announced its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.99) by $0.15. During the same quarter in the prior year, the company posted ($0.77) EPS. Equities research analysts forecast that Loxo Oncology, Inc. will post ($4.34) earnings per share for the current fiscal year.
A number of research analysts have recently weighed in on the stock. BidaskClub raised shares of Loxo Oncology from a “sell” rating to a “hold” rating in a research report on Saturday. Zacks Investment Research downgraded shares of Loxo Oncology from a “buy” rating to a “hold” rating in a research report on Saturday. Ifs Securities reissued an “outperform” rating on shares of Loxo Oncology in a research report on Tuesday, August 8th. Stifel Nicolaus reissued a “buy” rating and set a $94.00 target price (up from $71.00) on shares of Loxo Oncology in a research report on Thursday. Finally, BTIG Research reissued a “buy” rating and set a $75.00 target price on shares of Loxo Oncology in a research report on Thursday, August 3rd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $79.67.
In related news, Director Keith T. Flaherty sold 7,250 shares of the business’s 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 completion of the sale, the director now directly owns 27,141 shares in the company, valued at $1,223,787.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 44.40% 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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