Citigroup Cuts Loxo Oncology (NASDAQ:LOXO) Price Target to $108.00

Loxo Oncology (NASDAQ:LOXO) had its price objective reduced by analysts at Citigroup from $112.00 to $108.00 in a report issued on Thursday, November 16th. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Citigroup’s price objective would suggest a potential upside of 40.72% from the stock’s current price.

LOXO has been the subject of several other reports. BidaskClub raised shares of Loxo Oncology from a “sell” rating to a “hold” rating in a research note on Saturday, August 12th. Zacks Investment Research raised shares of Loxo Oncology from a “hold” rating to a “buy” rating and set a $82.00 target price for the company in a research note on Wednesday, August 9th. Stifel Nicolaus reissued a “buy” rating and set a $94.00 price objective (up from $71.00) on shares of Loxo Oncology in a research note on Thursday, August 10th. BTIG Research reissued a “buy” rating and set a $75.00 price objective on shares of Loxo Oncology in a research note on Thursday, August 3rd. Finally, Ifs Securities reissued an “outperform” rating on shares of Loxo Oncology in a research note on Tuesday, August 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $90.57.

Shares of Loxo Oncology (NASDAQ:LOXO) traded down $0.12 on Thursday, hitting $76.75. 435,386 shares of the stock were exchanged, compared to its average volume of 370,900. Loxo Oncology has a fifty-two week low of $25.25 and a fifty-two week high of $95.92.

In related news, Director Avi Z. Naider sold 5,000 shares of Loxo Oncology stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $90.00, for a total transaction of $450,000.00. Following the transaction, the director now owns 154,118 shares in the company, valued at approximately $13,870,620. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Naarden Jacob Van sold 1,541 shares of Loxo Oncology stock in a transaction on Monday, September 18th. The shares were sold at an average price of $89.20, for a total transaction of $137,457.20. Following the transaction, the insider now owns 1,541 shares in the company, valued at approximately $137,457.20. The disclosure for this sale can be found here. Insiders have sold a total of 1,123,596 shares of company stock worth $84,872,356 in the last 90 days. Company insiders own 27.80% of the company’s stock.

A number of hedge funds have recently modified their holdings of LOXO. Teachers Advisors LLC lifted its holdings in Loxo Oncology by 27.2% in the 1st quarter. Teachers Advisors LLC now owns 28,162 shares of the biopharmaceutical company’s stock worth $1,185,000 after buying an additional 6,023 shares in the last quarter. TIAA CREF Investment Management LLC lifted its holdings in Loxo Oncology by 9.7% in the 1st quarter. TIAA CREF Investment Management LLC now owns 40,772 shares of the biopharmaceutical company’s stock worth $1,716,000 after buying an additional 3,614 shares in the last quarter. Legal & General Group Plc lifted its holdings 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 buying an additional 284 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Loxo Oncology by 42.8% in the 1st quarter. Vanguard Group Inc. now owns 733,248 shares of the biopharmaceutical company’s stock worth $30,856,000 after buying an additional 219,837 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Loxo Oncology by 48.0% in the 1st quarter. Geode Capital Management LLC now owns 136,276 shares of the biopharmaceutical company’s stock worth $5,734,000 after buying an additional 44,193 shares in the last quarter.

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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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