Somewhat Positive Press Coverage Somewhat Unlikely to Affect Loxo Oncology (LOXO) Stock Price
News coverage about Loxo Oncology (NASDAQ:LOXO) has trended somewhat positive this week, according to Accern Sentiment Analysis. The research group identifies negative and positive news coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of companies on a scale of negative one to one, with scores nearest to one being the most favorable. Loxo Oncology earned a media sentiment score of 0.14 on Accern’s scale. Accern also assigned news coverage about the biopharmaceutical company an impact score of 44.4712665229585 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the near term.
These are some of the media stories that may have effected Accern Sentiment’s scoring:
- Insider Selling: Loxo Oncology, Inc. (LOXO) Director Sells 270,000 Shares of Stock (americanbankingnews.com)
- Loxo Oncology, Inc. (LOXO) Given Consensus Rating of “Buy” by Brokerages (americanbankingnews.com)
- Is Loxo Oncology’s Deal With Bayer Bad News? – Nasdaq (nasdaq.com)
- Investors Purchase Large Volume of Call Options on Loxo Oncology (LOXO) (americanbankingnews.com)
- Loxo Oncology Inc : Corporate News Blog – Loxo Oncology Collaborates with Bayer to Develop and Commercialize Larotrectinib and LOXO-195 (4-traders.com)
Shares of Loxo Oncology (LOXO) traded down $2.09 during midday trading on Tuesday, reaching $75.31. The company’s stock had a trading volume of 364,745 shares, compared to its average volume of 370,845. Loxo Oncology has a fifty-two week low of $25.25 and a fifty-two week high of $95.92.
A number of brokerages have recently commented on LOXO. BTIG Research reaffirmed a “buy” rating and set a $102.00 price target (up previously from $75.00) on shares of Loxo Oncology in a research report on Friday, September 29th. Cowen and Company reaffirmed a “buy” rating on shares of Loxo Oncology in a research report on Thursday, September 28th. Morgan Stanley reaffirmed an “overweight” rating and set a $103.00 price target (up previously from $95.00) on shares of Loxo Oncology in a research report on Friday, October 6th. Citigroup Inc. reaffirmed a “buy” rating and set a $112.00 price target (up previously from $86.00) on shares of Loxo Oncology in a research report on Friday, October 20th. Finally, JMP Securities raised Loxo Oncology from a “market perform” rating to an “outperform” rating and upped their price target for the company from $77.18 to $95.00 in a research report on Tuesday, November 14th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Loxo Oncology has a consensus rating of “Buy” and a consensus price target of $90.57.
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In other Loxo Oncology news, Director Orbimed Advisors Llc sold 270,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $74.26, for a total value of $20,050,200.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Jennifer Burstein sold 1,700 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $89.10, for a total value of $151,470.00. Following the completion of the transaction, the vice president now owns 1,700 shares in the company, valued at $151,470. The disclosure for this sale can be found here. Insiders sold a total of 329,564 shares of company stock worth $25,322,876 over the last 90 days. Corporate insiders own 27.80% of the company’s stock.
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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