Loxo Oncology, Inc. (LOXO) Receives $73.36 Consensus Target Price from Brokerages
Shares of Loxo Oncology, Inc. (NASDAQ:LOXO) have been given an average recommendation of “Buy” by the ten research firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $73.36.
Several brokerages have recently weighed in on LOXO. BTIG Research restated a “buy” rating and set a $102.00 target price (up from $75.00) on shares of Loxo Oncology in a research note on Friday, September 29th. Cowen and Company restated a “buy” rating on shares of Loxo Oncology in a research note on Thursday, September 28th. JMP Securities downgraded Loxo Oncology from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $83.12 to $17.14 in a research note on Tuesday, August 29th. They noted that the move was a valuation call. BidaskClub upgraded Loxo Oncology from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Finally, Zacks Investment Research downgraded Loxo Oncology from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th.
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Loxo Oncology (LOXO) traded down 2.49% during mid-day trading on Friday, hitting $88.44. The stock had a trading volume of 242,651 shares. The stock’s 50-day moving average price is $82.05 and its 200-day moving average price is $65.45. Loxo Oncology has a 12 month low of $17.14 and a 12 month high of $95.92. The stock’s market cap is $2.64 billion.
Loxo Oncology (NASDAQ:LOXO) last announced its quarterly 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 previous year, the business posted ($0.77) earnings per share. On average, analysts predict that Loxo Oncology will post ($4.49) earnings per share for the current year.
In related news, insider Naarden Jacob Van sold 1,541 shares of Loxo Oncology stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $73.73, for a total value of $113,617.93. Following the completion of the transaction, the insider now directly owns 1,541 shares in the company, valued at $113,617.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joshua H. Bilenker sold 15,000 shares of Loxo Oncology stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $73.56, for a total value of $1,103,400.00. Following the completion of the transaction, the chief executive officer now owns 196,207 shares of the company’s stock, valued at $14,432,986.92. The disclosure for this sale can be found here. Insiders have sold 84,896 shares of company stock valued at $6,865,562 over the last 90 days. Insiders own 27.80% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. grew its stake in Loxo Oncology by 31.3% in the second quarter. Ameritas Investment Partners Inc. now owns 1,758 shares of the biopharmaceutical company’s stock worth $141,000 after purchasing an additional 419 shares in the last quarter. Legal & General Group Plc grew its stake in Loxo Oncology by 8.4% in the first quarter. Legal & General Group Plc now owns 3,682 shares of the biopharmaceutical company’s stock worth $154,000 after purchasing an additional 284 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in Loxo Oncology by 4,388.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,244 shares of the biopharmaceutical company’s stock worth $180,000 after purchasing an additional 2,194 shares in the last quarter. SG Americas Securities LLC acquired a new position in Loxo Oncology in the second quarter worth about $228,000. Finally, Marshall Wace LLP acquired a new position in Loxo Oncology in the second quarter worth about $233,000.
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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