Loxo Oncology (NASDAQ:LOXO) Upgraded to Strong-Buy by Ifs Securities

Loxo Oncology (NASDAQ:LOXO) was upgraded by investment analysts at Ifs Securities from an “outperform” rating to a “strong-buy” rating in a research report issued on Tuesday, November 14th.

A number of other research analysts also recently commented on LOXO. Citigroup reaffirmed a “buy” rating and set a $112.00 price objective (up from $86.00) on shares of Loxo Oncology in a research report on Friday, October 20th. Morgan Stanley reaffirmed an “overweight” rating and set a $103.00 price objective (up from $95.00) on shares of Loxo Oncology in a research report on Friday, October 6th. BTIG Research reaffirmed a “buy” rating and set a $102.00 price objective (up from $75.00) on shares of Loxo Oncology in a research report on Friday, September 29th. Cowen reissued a “buy” rating on shares of Loxo Oncology in a research report on Thursday, September 28th. Finally, JMP Securities downgraded shares of Loxo Oncology from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $83.12 to $17.14 in a research report on Tuesday, August 29th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Loxo Oncology has a consensus rating of “Buy” and a consensus target price of $90.57.

Loxo Oncology (NASDAQ LOXO) traded up $0.12 during mid-day trading on Tuesday, hitting $76.87. 326,234 shares of the stock were exchanged, compared to its average volume of 507,236. Loxo Oncology has a twelve month low of $25.25 and a twelve month high of $95.92.

In other news, Director Orbimed Advisors Llc sold 270,000 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $74.26, for a total value of $20,050,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Joshua H. Bilenker sold 15,000 shares of the stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $89.02, for a total transaction of $1,335,300.00. Following the sale, the chief executive officer now owns 196,207 shares of the company’s stock, valued at approximately $17,466,347.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,123,596 shares of company stock valued at $84,872,356. Corporate insiders own 44.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in LOXO. Lord Abbett & CO. LLC grew its holdings in Loxo Oncology by 372.0% during the 2nd quarter. Lord Abbett & CO. LLC now owns 739,540 shares of the biopharmaceutical company’s stock worth $59,304,000 after acquiring an additional 582,862 shares during the last quarter. FMR LLC grew its holdings in Loxo Oncology by 12.1% during the 2nd quarter. FMR LLC now owns 4,394,827 shares of the biopharmaceutical company’s stock worth $352,420,000 after acquiring an additional 472,814 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in Loxo Oncology during the 2nd quarter worth about $33,347,000. State Street Corp grew its holdings in Loxo Oncology by 155.2% during the 1st quarter. State Street Corp now owns 547,017 shares of the biopharmaceutical company’s stock worth $23,019,000 after acquiring an additional 332,696 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Loxo Oncology by 50.2% in the 2nd quarter. Alliancebernstein L.P. now owns 936,790 shares of the biopharmaceutical company’s stock valued at $75,121,000 after purchasing an additional 312,988 shares during the last quarter.

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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.

Analyst Recommendations for Loxo Oncology (NASDAQ:LOXO)

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