Citigroup Inc. Trims Loxo Oncology, Inc. (LOXO) Target Price to $108.00

Loxo Oncology, Inc. (NASDAQ:LOXO) had its target price lowered by Citigroup Inc. from $112.00 to $108.00 in a report released on Thursday. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Several other equities research analysts have also weighed in on the stock. JMP Securities lowered shares of Loxo Oncology from an outperform rating to a market perform rating and dropped their price objective for the stock from $83.12 to $17.14 in a research note on Tuesday, August 29th. They noted that the move was a valuation call. Morgan Stanley reiterated an overweight rating and set 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 set a $75.00 price objective on shares of Loxo Oncology in a research note on Thursday, August 3rd. Stifel Nicolaus reiterated a buy rating and set a $71.00 price objective on shares of Loxo Oncology in a research note on Thursday, August 3rd. Finally, Zacks Investment Research upgraded shares of Loxo Oncology from a hold rating to a buy rating and set a $82.00 price objective on the stock in a research note on Wednesday, August 9th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $90.57.



Loxo Oncology (LOXO) traded up $0.16 on Thursday, reaching $75.07. 336,424 shares of the company traded hands, compared to its average volume of 579,201. Loxo Oncology has a 52-week low of $25.25 and a 52-week high of $95.92.

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In other Loxo Oncology news, Director Keith T. Flaherty sold 7,250 shares of the company’s stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $72.26, for a total value of $523,885.00. Following the completion of the transaction, the director now owns 20,432 shares in the company, valued at approximately $1,476,416.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Avi Z. Naider sold 5,000 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $90.00, for a total transaction of $450,000.00. Following the completion of the transaction, the director now owns 154,118 shares of the company’s stock, valued at approximately $13,870,620. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,814 shares of company stock valued at $6,548,261. 44.40% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP bought a new position in Loxo Oncology in the 3rd quarter worth about $122,000. Ameritas Investment Partners Inc. grew its position in Loxo Oncology by 31.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,758 shares of the biopharmaceutical company’s stock worth $141,000 after purchasing an additional 419 shares during the last quarter. Legal & General Group Plc grew its position in Loxo Oncology by 8.4% in the 1st quarter. Legal & General Group Plc now owns 3,682 shares of the biopharmaceutical company’s stock worth $154,000 after purchasing an additional 284 shares during the last quarter. BNP Paribas Arbitrage SA grew its position in Loxo Oncology by 4,388.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,244 shares of the biopharmaceutical company’s stock worth $180,000 after purchasing an additional 2,194 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new position in Loxo Oncology in the 3rd quarter worth about $212,000. Hedge funds and other institutional investors own 99.31% of the company’s stock.

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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