Zacks Investment Research upgraded shares of Loxo Oncology (NASDAQ:LOXO) from a hold rating to a buy rating in a report published on Friday. The firm currently has $148.00 price target on the biopharmaceutical company’s stock.
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 equities research analysts also recently commented on LOXO. Ifs Securities raised shares of Loxo Oncology from an outperform rating to a strong-buy rating in a report on Tuesday, November 14th. JMP Securities raised shares of Loxo Oncology from a market perform rating to an outperform rating and upped their price objective for the company from $77.18 to $95.00 in a report on Tuesday, November 14th. Citigroup dropped their price objective on shares of Loxo Oncology from $112.00 to $108.00 and set a buy rating on the stock in a report on Thursday, November 16th. William Blair initiated coverage on shares of Loxo Oncology in a report on Tuesday, November 28th. They set an outperform rating on the stock. Finally, BidaskClub raised shares of Loxo Oncology from a strong sell rating to a sell rating in a report on Tuesday, December 12th. Eleven equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $124.44.
Loxo Oncology (NASDAQ:LOXO) last posted its quarterly earnings results on Thursday, March 1st. The biopharmaceutical company reported ($0.69) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.22) by $0.53. The company had revenue of $21.30 million for the quarter. equities analysts forecast that Loxo Oncology will post 3.81 earnings per share for the current fiscal year.
In other news, Director Timothy M. Mayleben sold 10,000 shares of the stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $80.49, for a total value of $804,900.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Aisling Capital Iii Lp sold 250,000 shares of the stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $80.50, for a total transaction of $20,125,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 334,146 shares of company stock worth $27,668,728. Insiders own 27.80% of the company’s stock.
Several institutional investors have recently made changes to their positions in LOXO. Sands Capital Management LLC purchased a new stake in shares of Loxo Oncology in the fourth quarter worth about $191,266,000. OppenheimerFunds Inc. lifted its holdings in shares of Loxo Oncology by 62.8% in the fourth quarter. OppenheimerFunds Inc. now owns 1,061,111 shares of the biopharmaceutical company’s stock worth $89,324,000 after buying an additional 409,209 shares in the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of Loxo Oncology by 40.3% in the fourth quarter. Driehaus Capital Management LLC now owns 574,495 shares of the biopharmaceutical company’s stock worth $48,361,000 after buying an additional 164,959 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Loxo Oncology by 27.3% in the fourth quarter. Franklin Resources Inc. now owns 494,101 shares of the biopharmaceutical company’s stock worth $41,594,000 after buying an additional 106,001 shares in the last quarter. Finally, California Public Employees Retirement System purchased a new stake in shares of Loxo Oncology in the fourth quarter worth about $4,249,000.
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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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