Loxo Oncology (LOXO) Downgraded by BidaskClub to Buy

BidaskClub lowered shares of Loxo Oncology (NASDAQ:LOXO) from a strong-buy rating to a buy rating in a research note released on Tuesday.

A number of other research analysts also recently commented on the company. Cann reiterated a buy rating and set a $202.00 target price on shares of Loxo Oncology in a research report on Monday, August 27th. Zacks Investment Research downgraded Loxo Oncology from a buy rating to a hold rating in a research report on Thursday, August 16th. Stifel Nicolaus lowered their target price on Loxo Oncology from $225.00 to $217.00 and set a buy rating for the company in a research report on Friday, August 10th. Cowen reiterated a buy rating on shares of Loxo Oncology in a research report on Thursday, August 9th. Finally, Guggenheim initiated coverage on Loxo Oncology in a research report on Monday, September 17th. They set a neutral rating for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $188.92.

LOXO stock opened at $164.06 on Tuesday. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of -30.90 and a beta of 2.26. Loxo Oncology has a 1-year low of $71.45 and a 1-year high of $208.95.

Loxo Oncology (NASDAQ:LOXO) last posted its earnings results on Thursday, August 9th. The biopharmaceutical company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.15. The firm had revenue of $42.60 million for the quarter, compared to the consensus estimate of $32.36 million. During the same quarter in the prior year, the company posted ($0.94) earnings per share. On average, equities analysts anticipate that Loxo Oncology will post -2.54 earnings per share for the current fiscal year.

In related news, VP Jennifer Burstein sold 2,500 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $159.24, for a total value of $398,100.00. Following the completion of the sale, the vice president now directly owns 1,250 shares in the company, valued at $199,050. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Joshua H. Bilenker sold 20,000 shares of the firm’s stock in a transaction on Thursday, October 4th. The stock was sold at an average price of $164.94, for a total value of $3,298,800.00. Following the completion of the sale, the chief executive officer now owns 145,407 shares of the company’s stock, valued at $23,983,430.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 102,500 shares of company stock valued at $16,798,550. 17.10% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can lifted its position in Loxo Oncology by 39.2% in the third quarter. Bank of Montreal Can now owns 11,354 shares of the biopharmaceutical company’s stock worth $1,941,000 after buying an additional 3,198 shares during the last quarter. EFG Asset Management Americas Corp. lifted its position in Loxo Oncology by 64.6% in the third quarter. EFG Asset Management Americas Corp. now owns 13,412 shares of the biopharmaceutical company’s stock worth $2,291,000 after buying an additional 5,264 shares during the last quarter. Northern Trust Corp lifted its position in Loxo Oncology by 14.0% in the second quarter. Northern Trust Corp now owns 325,357 shares of the biopharmaceutical company’s stock worth $56,442,000 after buying an additional 39,846 shares during the last quarter. Moody Aldrich Partners LLC lifted its position in Loxo Oncology by 75.2% in the second quarter. Moody Aldrich Partners LLC now owns 24,858 shares of the biopharmaceutical company’s stock worth $4,312,000 after buying an additional 10,667 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Loxo Oncology by 10.6% in the second quarter. Bank of New York Mellon Corp now owns 135,562 shares of the biopharmaceutical company’s stock worth $23,518,000 after buying an additional 13,033 shares during the last quarter. Institutional investors own 97.44% of the company’s stock.

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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Analyst Recommendations for Loxo Oncology (NASDAQ:LOXO)

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