Loxo Oncology (LOXO) Receives New Coverage from Analysts at Cann

Cann began coverage on shares of Loxo Oncology (NASDAQ:LOXO) in a research note released on Wednesday morning. The firm issued an outperform rating and a $132.00 target price on the biopharmaceutical company’s stock.

LOXO has been the subject of a number of other reports. BidaskClub upgraded Loxo Oncology from a hold rating to a buy rating in a research note on Tuesday, January 23rd. Ifs Securities upgraded Loxo Oncology from an outperform rating to a strong-buy rating in a research note on Tuesday, November 14th. JMP Securities upgraded Loxo Oncology from a market perform rating to an outperform rating and raised their price target for the company from $77.18 to $95.00 in a research note on Tuesday, November 14th. Zacks Investment Research downgraded Loxo Oncology from a hold rating to a sell rating in a research note on Friday, December 1st. Finally, Citigroup decreased their price target on Loxo Oncology from $112.00 to $108.00 and set a buy rating for the company in a research note on Thursday, November 16th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Loxo Oncology currently has a consensus rating of Buy and a consensus target price of $102.29.

Loxo Oncology (LOXO) opened at $107.68 on Wednesday. Loxo Oncology has a one year low of $40.01 and a one year high of $112.91.

In other news, CEO Joshua H. Bilenker sold 15,000 shares of Loxo Oncology stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $74.45, for a total transaction of $1,116,750.00. Following the completion of the transaction, the chief executive officer now directly owns 182,707 shares in the company, valued at approximately $13,602,536.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Naarden Jacob Van sold 3,082 shares of Loxo Oncology stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $74.50, for a total value of $229,609.00. Following the transaction, the insider now owns 1,541 shares of the company’s stock, valued at $114,804.50. The disclosure for this sale can be found here. Insiders have sold a total of 603,928 shares of company stock valued at $49,767,281 over the last quarter. 44.40% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of LOXO. Sands Capital Management LLC bought a new position in shares of Loxo Oncology during the 4th quarter worth approximately $191,266,000. OppenheimerFunds Inc. boosted its stake in shares of Loxo Oncology by 62.8% during the 4th quarter. OppenheimerFunds Inc. now owns 1,061,111 shares of the biopharmaceutical company’s stock worth $89,324,000 after acquiring an additional 409,209 shares during the period. Vanguard Group Inc. boosted its stake in shares of Loxo Oncology by 24.7% during the 2nd quarter. Vanguard Group Inc. now owns 914,719 shares of the biopharmaceutical company’s stock worth $73,351,000 after acquiring an additional 181,471 shares during the period. Driehaus Capital Management LLC lifted its holdings in Loxo Oncology by 40.3% during the 4th quarter. Driehaus Capital Management LLC now owns 574,495 shares of the biopharmaceutical company’s stock worth $48,361,000 after purchasing an additional 164,959 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Loxo Oncology by 27.3% during the 4th quarter. Franklin Resources Inc. now owns 494,101 shares of the biopharmaceutical company’s stock worth $41,594,000 after purchasing an additional 106,001 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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