Loxo Oncology Inc (NASDAQ:LOXO) CEO Joshua H. Bilenker sold 57,000 shares of Loxo Oncology stock in a transaction dated Wednesday, June 20th. The stock was sold at an average price of $178.62, for a total value of $10,181,340.00. Following the completion of the transaction, the chief executive officer now directly owns 127,707 shares of the company’s stock, valued at $22,811,024.34. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Loxo Oncology traded up $4.94, reaching $183.55, during midday trading on Thursday, Marketbeat Ratings reports. The stock had a trading volume of 707,300 shares, compared to its average volume of 461,673. Loxo Oncology Inc has a 12 month low of $69.00 and a 12 month high of $208.95. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of -34.47 and a beta of 2.45.
Loxo Oncology (NASDAQ:LOXO) last released its quarterly earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. The company had revenue of $38.43 million for the quarter, compared to analyst estimates of $12.72 million. During the same quarter last year, the firm posted ($0.96) EPS. sell-side analysts predict that Loxo Oncology Inc will post 0.91 earnings per share for the current fiscal year.
A number of analysts recently commented on the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $135.00 target price on shares of Loxo Oncology in a research report on Friday, March 2nd. Morgan Stanley lowered Loxo Oncology from an “overweight” rating to an “equal weight” rating and set a $103.00 target price for the company. in a research report on Wednesday, March 21st. They noted that the move was a valuation call. Cann assumed coverage on Loxo Oncology in a research report on Wednesday, February 21st. They issued an “outperform” rating and a $132.00 target price for the company. Citigroup boosted their target price on Loxo Oncology to $235.00 and gave the company a “buy” rating in a research report on Monday, June 4th. Finally, ValuEngine raised Loxo Oncology from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. Loxo Oncology presently has an average rating of “Buy” and a consensus price target of $176.40.
A number of hedge funds have recently added to or reduced their stakes in LOXO. Schwab Charles Investment Management Inc. boosted its stake in Loxo Oncology by 2.2% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 108,015 shares of the biopharmaceutical company’s stock valued at $9,093,000 after purchasing an additional 2,274 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in Loxo Oncology during the 4th quarter valued at about $603,000. California Public Employees Retirement System acquired a new position in Loxo Oncology during the 4th quarter valued at about $4,249,000. State of Wisconsin Investment Board boosted its stake in Loxo Oncology by 60.0% during the 4th quarter. State of Wisconsin Investment Board now owns 22,400 shares of the biopharmaceutical company’s stock valued at $1,886,000 after purchasing an additional 8,400 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in Loxo Oncology by 2.0% during the 4th quarter. UBS Asset Management Americas Inc. now owns 211,234 shares of the biopharmaceutical company’s stock valued at $17,782,000 after purchasing an additional 4,193 shares during the last quarter.
About Loxo Oncology
Loxo Oncology, Inc, a biopharmaceutical company, develops and sells medicines for patients with genetically defined cancers in the United States. Its lead product candidate comprises larotrectinib, an oral selective inhibitor of tropomyosin receptor kinase (TRK), which is in adult Phase 1 trial, a pediatric Phase 1/2 trial, and an adult/adolescent Phase 2 trial for the treatment of patients with tumor types, such as lung, head and neck, melanoma, colorectal, sarcoma, and breast cancer.
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