Analysts Set Loxo Oncology, Inc. (NASDAQ:LOXO) Target Price at $74.60

Shares of Loxo Oncology, Inc. (NASDAQ:LOXO) have been assigned an average rating of “Buy” from the eight brokerages that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $74.60.

Several analysts have recently issued reports on LOXO shares. Morgan Stanley reissued an “overweight” rating and set a $91.00 price objective on shares of Loxo Oncology in a research note on Monday, June 19th. Zacks Investment Research raised shares of Loxo Oncology from a “sell” rating to a “hold” rating in a research note on Thursday, June 8th. Stifel Nicolaus boosted their price objective on shares of Loxo Oncology from $52.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, June 5th. Citigroup Inc. raised shares of Loxo Oncology from a “neutral” rating to a “buy” rating and set a $86.00 price objective for the company in a research note on Monday, June 5th. Finally, BTIG Research reaffirmed a “buy” rating and set a $75.00 price target on shares of Loxo Oncology in a research report on Tuesday, June 6th.

Shares of Loxo Oncology (NASDAQ LOXO) traded down 1.15% on Tuesday, reaching $73.13. The company had a trading volume of 279,645 shares. The firm’s market capitalization is $1.91 billion. Loxo Oncology has a 1-year low of $17.14 and a 1-year high of $83.12. The firm has a 50-day moving average price of $74.05 and a 200 day moving average price of $50.90.

Loxo Oncology (NASDAQ:LOXO) last announced its quarterly earnings data on Tuesday, May 9th. The biopharmaceutical company reported ($0.96) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.76) by $0.20. Equities research analysts predict that Loxo Oncology will post ($4.22) earnings per share for the current year.

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In other Loxo Oncology news, Director Keith T. Flaherty sold 7,250 shares of the business’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $45.09, for a total value of $326,902.50. Following the transaction, the director now owns 27,141 shares in the company, valued at approximately $1,223,787.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 44.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of LOXO. Legal & General Group Plc increased 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 buying an additional 284 shares during the last quarter. Bank of America Corp DE raised its position in shares of Loxo Oncology by 162.6% in the first quarter. Bank of America Corp DE now owns 8,176 shares of the biopharmaceutical company’s stock valued at $344,000 after buying an additional 5,063 shares during the period. American International Group Inc. raised its position in shares of Loxo Oncology by 27.1% in the first quarter. American International Group Inc. now owns 9,749 shares of the biopharmaceutical company’s stock valued at $410,000 after buying an additional 2,081 shares during the period. GSA Capital Partners LLP raised its position in shares of Loxo Oncology by 14.5% in the fourth quarter. GSA Capital Partners LLP now owns 13,900 shares of the biopharmaceutical company’s stock valued at $446,000 after buying an additional 1,760 shares during the period. Finally, Wells Fargo & Company MN raised its position in shares of Loxo Oncology by 33.3% in the first quarter. Wells Fargo & Company MN now owns 15,503 shares of the biopharmaceutical company’s stock valued at $653,000 after buying an additional 3,875 shares during the period.

About Loxo Oncology

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.

Analyst Recommendations for Loxo Oncology (NASDAQ:LOXO)

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