Loxo Oncology (LOXO) Releases Earnings Results

Loxo Oncology (NASDAQ:LOXO) issued its earnings results on Thursday. The biopharmaceutical company reported ($0.89) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.65) by ($0.24), Briefing.com reports. The business had revenue of $42.47 million for the quarter, compared to the consensus estimate of $38.55 million. During the same quarter last year, the business earned ($2.45) earnings per share.

Shares of LOXO stock traded down $7.06 during trading hours on Friday, reaching $166.77. The stock had a trading volume of 281,936 shares, compared to its average volume of 319,382. Loxo Oncology has a twelve month low of $71.45 and a twelve month high of $208.95. The stock has a market cap of $5.37 billion, a PE ratio of -31.41 and a beta of 2.26.

In related news, CEO Joshua H. Bilenker sold 20,000 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $159.41, for a total value of $3,188,200.00. Following the sale, the chief executive officer now owns 145,407 shares of the company’s stock, valued at approximately $23,179,329.87. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Naarden Jacob Van sold 10,000 shares of the stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $159.34, for a total transaction of $1,593,400.00. Following the completion of the transaction, the insider now owns 19,200 shares of the company’s stock, valued at approximately $3,059,328. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,500 shares of company stock worth $16,798,550. Corporate insiders own 17.10% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Affinity Investment Advisors LLC bought a new position in Loxo Oncology in the 3rd quarter valued at about $667,000. American International Group Inc. grew its position in Loxo Oncology by 3.2% in the 3rd quarter. American International Group Inc. now owns 17,845 shares of the biopharmaceutical company’s stock valued at $3,048,000 after buying an additional 549 shares in the last quarter. BlackRock Inc. grew its position in Loxo Oncology by 8.4% in the 3rd quarter. BlackRock Inc. now owns 2,271,428 shares of the biopharmaceutical company’s stock valued at $388,029,000 after buying an additional 176,264 shares in the last quarter. Alliancebernstein L.P. grew its position in Loxo Oncology by 20.2% in the 3rd quarter. Alliancebernstein L.P. now owns 574,136 shares of the biopharmaceutical company’s stock valued at $98,080,000 after buying an additional 96,335 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its position in Loxo Oncology by 494.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 350,197 shares of the biopharmaceutical company’s stock valued at $59,824,000 after buying an additional 291,278 shares in the last quarter. Hedge funds and other institutional investors own 97.77% of the company’s stock.

LOXO has been the topic of a number of research reports. Cann reissued a “buy” rating and set a $202.00 target price on shares of Loxo Oncology in a report on Monday, August 27th. Morgan Stanley dropped their target price on shares of Loxo Oncology from $215.00 to $213.00 and set an “overweight” rating on the stock in a report on Thursday, October 11th. Ifs Securities raised shares of Loxo Oncology from a “market perform” rating to an “outperform” rating in a report on Monday, October 8th. Zacks Investment Research cut shares of Loxo Oncology from a “buy” rating to a “hold” rating in a report on Thursday, August 16th. Finally, Stifel Nicolaus dropped their target price on shares of Loxo Oncology from $225.00 to $217.00 and set a “buy” rating on the stock in a report on Friday, August 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Loxo Oncology currently has a consensus rating of “Buy” and an average target price of $188.75.

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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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Earnings History for Loxo Oncology (NASDAQ:LOXO)

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