Shares of Loxo Oncology Inc (NASDAQ:LOXO) have earned an average rating of “Buy” from the seventeen research firms that are presently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $186.00.
A number of equities research analysts have issued reports on LOXO shares. Cann reaffirmed an “average” rating and issued a $202.00 price objective (up from $122.00) on shares of Loxo Oncology in a research report on Thursday, July 12th. BidaskClub downgraded shares of Loxo Oncology from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 28th. JMP Securities upped their price objective on shares of Loxo Oncology from $182.00 to $221.00 and gave the stock a “buy” rating in a research report on Monday, June 4th. Citigroup upped their price objective on shares of Loxo Oncology to $235.00 and gave the stock a “buy” rating in a research report on Monday, June 4th. Finally, Stifel Nicolaus upped their price objective on shares of Loxo Oncology from $190.00 to $225.00 and gave the stock a “buy” rating in a research report on Monday, June 4th.
Shares of NASDAQ:LOXO traded down $0.13 during midday trading on Friday, hitting $159.13. 3,900 shares of the company’s stock were exchanged, compared to its average volume of 248,422. Loxo Oncology has a 12 month low of $71.45 and a 12 month high of $208.95. The company has a market cap of $4.75 billion, a PE ratio of -30.13 and a beta of 2.25.
In other news, major shareholder Aisling Capital Iii Lp sold 1,400,000 shares of the stock in a transaction that occurred on Tuesday, July 10th. The shares were sold at an average price of $179.43, for a total transaction of $251,202,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jennifer Burstein sold 1,500 shares of the stock in a transaction that occurred on Monday, July 9th. The shares were sold at an average price of $187.25, for a total transaction of $280,875.00. Following the transaction, the vice president now directly owns 1,500 shares of the company’s stock, valued at $280,875. The disclosure for this sale can be found here. Insiders have sold a total of 1,484,582 shares of company stock valued at $265,384,922 over the last three months. Insiders own 17.10% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP lifted its stake in shares of Loxo Oncology by 770.1% during the 1st quarter. Quantbot Technologies LP now owns 931 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 824 shares in the last quarter. Fortaleza Asset Management Inc. purchased a new stake in shares of Loxo Oncology during the 2nd quarter valued at approximately $110,000. IFP Advisors Inc lifted its stake in shares of Loxo Oncology by 509.6% during the 1st quarter. IFP Advisors Inc now owns 1,012 shares of the biopharmaceutical company’s stock valued at $117,000 after buying an additional 846 shares in the last quarter. First Mercantile Trust Co. purchased a new stake in shares of Loxo Oncology during the 2nd quarter valued at approximately $122,000. Finally, Douglass Winthrop Advisors LLC purchased a new stake in shares of Loxo Oncology during the 2nd quarter valued at approximately $204,000. 97.45% of the stock is owned by hedge funds and other institutional investors.
Loxo Oncology Company Profile
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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