Brokerages Set Loxo Oncology, Inc. (LOXO) Target Price at $92.00

Shares of Loxo Oncology, Inc. (NASDAQ:LOXO) have been given a consensus recommendation of “Buy” by the eleven research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $92.00.

A number of research firms have recently weighed in on LOXO. BidaskClub upgraded shares of Loxo Oncology from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 12th. Citigroup cut their price objective on shares of Loxo Oncology from $112.00 to $108.00 and set a “buy” rating on the stock in a research note on Thursday, November 16th. Morgan Stanley reiterated an “overweight” rating and issued a $103.00 price objective (up previously from $95.00) on shares of Loxo Oncology in a research note on Friday, October 6th. BTIG Research reiterated a “buy” rating and issued a $102.00 price objective (up previously from $75.00) on shares of Loxo Oncology in a research note on Friday, September 29th. Finally, JMP Securities upgraded shares of Loxo Oncology from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $77.18 to $95.00 in a research note on Tuesday, November 14th.

In related news, major shareholder Aisling Capital Iii Lp sold 500,000 shares of the stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $75.00, for a total transaction of $37,500,000.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Orbimed Advisors Llc sold 270,000 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $74.26, for a total transaction of $20,050,200.00. The disclosure for this sale can be found here. Insiders sold 1,614,555 shares of company stock worth $124,567,942 in the last quarter. Company insiders own 44.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in LOXO. Lord Abbett & CO. LLC boosted its holdings in Loxo Oncology by 372.0% during the second quarter. Lord Abbett & CO. LLC now owns 739,540 shares of the biopharmaceutical company’s stock worth $59,304,000 after buying an additional 582,862 shares in the last quarter. FMR LLC boosted its holdings in Loxo Oncology by 12.1% during the second quarter. FMR LLC now owns 4,394,827 shares of the biopharmaceutical company’s stock worth $352,420,000 after buying an additional 472,814 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in Loxo Oncology by 50.2% during the second quarter. Alliancebernstein L.P. now owns 936,790 shares of the biopharmaceutical company’s stock worth $75,121,000 after buying an additional 312,988 shares in the last quarter. BlackRock Inc. boosted its holdings in Loxo Oncology by 20.6% during the second quarter. BlackRock Inc. now owns 1,602,885 shares of the biopharmaceutical company’s stock worth $128,534,000 after buying an additional 273,291 shares in the last quarter. Finally, Voya Investment Management LLC boosted its holdings in Loxo Oncology by 3,757.2% during the second quarter. Voya Investment Management LLC now owns 236,177 shares of the biopharmaceutical company’s stock worth $18,939,000 after buying an additional 230,054 shares in the last quarter. 99.98% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Loxo Oncology (NASDAQ LOXO) traded up $1.13 during trading on Tuesday, reaching $89.99. 440,691 shares of the company’s stock were exchanged, compared to its average volume of 393,898. The firm has a market cap of $2,690.00, a price-to-earnings ratio of -15.49 and a beta of 2.54. Loxo Oncology has a twelve month low of $36.75 and a twelve month high of $95.92.

Loxo Oncology (NASDAQ:LOXO) last released its quarterly earnings data on Thursday, November 2nd. The biopharmaceutical company reported ($1.12) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.38) by $0.26. analysts expect that Loxo Oncology will post -5.91 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This piece was first posted by BBNS and is the property of of BBNS. If you are viewing this piece on another publication, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark legislation. The original version of this piece can be viewed at https://baseballnewssource.com/markets/brokerages-set-loxo-oncology-inc-loxo-target-price-at-92-00/1833416.html.

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)

Receive News & Ratings for Loxo Oncology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Loxo Oncology and related companies with our FREE daily email newsletter.

 


Latest News

Houston Astros Add Starter to Rotation
Houston Astros Add Starter to Rotation
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Justin Morneau Former Star With Twins and AL MVP Retires
Justin Morneau Former Star With Twins and AL MVP Retires
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets
MLB Rumor: Pirates Discussing Andrew McCutchen with Mets
Trade Rumor: Manny Machado Could Land With Yankees
Trade Rumor: Manny Machado Could Land With Yankees
Los Angeles Dodgers Acquire Scott Alexander as Part of Three Team Deal
Los Angeles Dodgers Acquire Scott Alexander as Part of Three Team Deal


Leave a Reply

 
© 2006-2018 BBNS.