Loxo Oncology, Inc. (NASDAQ:LOXO)‘s stock had its “overweight” rating reissued by investment analysts at Morgan Stanley in a research note issued on Friday, October 6th. They presently have a $103.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $95.00. Morgan Stanley’s target price indicates a potential upside of 16.31% from the stock’s current price.
Several other analysts have also commented on LOXO. Stifel Nicolaus reaffirmed a “buy” rating and set a $94.00 price target (up previously from $71.00) on shares of Loxo Oncology in a research report on Thursday, August 10th. BidaskClub raised shares of Loxo Oncology from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Zacks Investment Research lowered shares of Loxo Oncology from a “buy” rating to a “hold” rating in a research report on Saturday, August 12th. Ifs Securities reiterated an “outperform” rating on shares of Loxo Oncology in a report on Tuesday, August 8th. Finally, BTIG Research reiterated a “buy” rating and issued a $102.00 target price (up previously from $75.00) on shares of Loxo Oncology in a report on Friday, September 29th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $76.31.
Loxo Oncology (NASDAQ LOXO) opened at 88.56 on Friday. The stock’s 50 day moving average price is $86.23 and its 200-day moving average price is $68.73. The company’s market cap is $2.64 billion. Loxo Oncology has a 1-year low of $17.14 and a 1-year high of $95.92.
Loxo Oncology (NASDAQ:LOXO) last released its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.14) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.99) by ($0.15). During the same quarter in the previous year, the firm earned ($0.77) EPS. On average, analysts forecast that Loxo Oncology will post ($4.49) earnings per share for the current year.
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In other Loxo Oncology news, CEO Joshua H. Bilenker sold 15,000 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $73.56, for a total value of $1,103,400.00. Following the completion of the transaction, the chief executive officer now owns 196,207 shares in the company, valued at $14,432,986.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Avi Z. Naider sold 5,000 shares of the business’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $90.00, for a total transaction of $450,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,896 shares of company stock valued at $7,315,562. Insiders own 44.40% of the company’s stock.
Large investors have recently bought and sold shares of the business. Ameritas Investment Partners Inc. grew its stake in shares of Loxo Oncology by 31.3% in the second quarter. Ameritas Investment Partners Inc. now owns 1,758 shares of the biopharmaceutical company’s stock worth $141,000 after acquiring an additional 419 shares in the last quarter. BNP Paribas Arbitrage SA grew its stake in shares of Loxo Oncology by 4,388.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,244 shares of the biopharmaceutical company’s stock worth $180,000 after acquiring an additional 2,194 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Loxo Oncology in the second quarter worth $228,000. Marshall Wace LLP acquired a new position in shares of Loxo Oncology in the second quarter worth $233,000. Finally, Jasper Ridge Partners L.P. acquired a new position in shares of Loxo Oncology in the second quarter worth $277,000.
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.
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