Somewhat Favorable Media Coverage Somewhat Unlikely to Affect Loxo Oncology (LOXO) Stock Price
Media coverage about Loxo Oncology (NASDAQ:LOXO) has trended somewhat positive on Saturday, according to Accern Sentiment. The research firm identifies negative and positive news coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Loxo Oncology earned a news impact score of 0.12 on Accern’s scale. Accern also assigned media stories about the biopharmaceutical company an impact score of 46.1649114815415 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
Here are some of the media stories that may have effected Accern Sentiment’s rankings:
- Loxo Oncology: Out Of The Frying Pan And Into The Fire (Part 2/2) (seekingalpha.com)
- Zacks: Brokerages Expect Loxo Oncology Inc (LOXO) Will Announce Quarterly Sales of $47.07 Million (americanbankingnews.com)
- Loxo Oncology Inc (LOXO) VP Sells $398,100.00 in Stock (americanbankingnews.com)
- Insider Selling: Loxo Oncology Inc (LOXO) Insider Sells 10,000 Shares of Stock (americanbankingnews.com)
- Loxo Oncology Inc (LOXO) CEO Joshua H. Bilenker Sells 20,000 Shares (americanbankingnews.com)
Shares of NASDAQ LOXO opened at $158.34 on Friday. The company has a market cap of $4.85 billion, a price-to-earnings ratio of -29.82 and a beta of 2.32. Loxo Oncology has a twelve month low of $70.83 and a twelve month high of $208.95.
LOXO has been the topic of a number of recent analyst reports. Citigroup boosted their price target on Loxo Oncology to $235.00 and gave the stock a “buy” rating in a research report on Monday, June 4th. Piper Jaffray Companies initiated coverage on Loxo Oncology in a research report on Wednesday, May 30th. They set an “overweight” rating and a $200.00 price target on the stock. ValuEngine raised Loxo Oncology from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. JMP Securities boosted their price target on Loxo Oncology from $182.00 to $221.00 and gave the stock a “buy” rating in a research report on Monday, June 4th. Finally, William Blair reissued a “buy” rating on shares of Loxo Oncology in a research report on Monday, June 4th. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $188.40.
In other news, VP Jennifer Burstein sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, July 9th. The stock was sold at an average price of $187.25, for a total value of $280,875.00. Following the transaction, the vice president now owns 1,500 shares of the company’s stock, valued at $280,875. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy M. Mayleben sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 8th. The shares were sold at an average price of $179.55, for a total value of $1,795,500.00. Following the completion of the transaction, the director now directly owns 59,732 shares in the company, valued at approximately $10,724,880.60. The disclosure for this sale can be found here. Insiders sold 1,563,096 shares of company stock worth $279,862,163 in the last ninety days. 17.10% of the stock is owned by company insiders.
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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