Investors Buy Loxo Oncology (LOXO) on Weakness

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Investors purchased shares of Loxo Oncology Inc (NASDAQ:LOXO) on weakness during trading hours on Thursday. $88.55 million flowed into the stock on the tick-up and $75.42 million flowed out of the stock on the tick-down, for a money net flow of $13.13 million into the stock. Of all companies tracked, Loxo Oncology had the 17th highest net in-flow for the day. Loxo Oncology traded down ($0.01) for the day and closed at $233.25

A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Loxo Oncology from a “hold” rating to a “sell” rating in a report on Saturday, November 10th. William Blair reaffirmed a “buy” rating on shares of Loxo Oncology in a report on Monday, January 7th. BidaskClub lowered shares of Loxo Oncology from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 9th. Piper Jaffray Companies set a $200.00 price objective on shares of Loxo Oncology and gave the company a “buy” rating in a report on Sunday, October 7th. Finally, Leerink Swann lowered shares of Loxo Oncology from an “outperform” rating to a “market perform” rating in a report on Monday, January 7th. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and three have issued a strong buy rating to the company’s stock. Loxo Oncology has an average rating of “Buy” and a consensus price target of $193.46.

Loxo Oncology (NASDAQ:LOXO) last issued its quarterly earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.65) by ($0.24). The company had revenue of $42.47 million during the quarter, compared to the consensus estimate of $38.55 million. Loxo Oncology had a negative return on equity of 16.42% and a negative net margin of 43.49%. During the same quarter in the prior year, the business earned ($2.45) earnings per share. As a group, equities research analysts anticipate that Loxo Oncology Inc will post -2.25 EPS for the current fiscal year.

In other Loxo Oncology news, Director Avi Z. Naider bought 725 shares of the firm’s stock in a transaction dated Thursday, December 13th. The stock was acquired at an average cost of $138.92 per share, for a total transaction of $100,717.00. Following the completion of the transaction, the director now owns 126,843 shares in the company, valued at $17,621,029.56. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Joshua H. Bilenker sold 20,000 shares of Loxo Oncology stock in a transaction on Tuesday, December 11th. The stock was sold at an average price of $135.47, for a total value of $2,709,400.00. Following the sale, the chief executive officer now owns 174,407 shares of the company’s stock, valued at $23,626,916.29. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,000 shares of company stock valued at $9,061,875. 17.10% of the stock is owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in LOXO. Eagle Asset Management Inc. lifted its position in shares of Loxo Oncology by 494.4% during the third quarter. Eagle Asset Management Inc. now owns 350,197 shares of the biopharmaceutical company’s stock worth $59,824,000 after purchasing an additional 291,278 shares during the last quarter. Vanguard Group Inc increased its stake in shares of Loxo Oncology by 11.8% during the third quarter. Vanguard Group Inc now owns 2,670,023 shares of the biopharmaceutical company’s stock valued at $456,119,000 after buying an additional 281,635 shares during the period. Vanguard Group Inc. increased its stake in shares of Loxo Oncology by 11.8% during the third quarter. Vanguard Group Inc. now owns 2,670,023 shares of the biopharmaceutical company’s stock valued at $456,119,000 after buying an additional 281,635 shares during the period. Carillon Tower Advisers Inc. purchased a new position in shares of Loxo Oncology during the third quarter valued at $43,757,000. Finally, Point72 Asset Management L.P. increased its stake in shares of Loxo Oncology by 62.0% during the third quarter. Point72 Asset Management L.P. now owns 514,600 shares of the biopharmaceutical company’s stock valued at $87,909,000 after buying an additional 196,900 shares during the period. Institutional investors and hedge funds own 96.50% of the company’s stock.

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About Loxo Oncology (NASDAQ:LOXO)

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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