Loxo Oncology (LOXO) Reaches New 1-Year High and Low Following Analyst Upgrade

Loxo Oncology (NASDAQ:LOXO) hit a new 52-week high and low during trading on Thursday after Stifel Nicolaus raised their price target on the stock from $145.00 to $190.00. Stifel Nicolaus currently has a buy rating on the stock. Loxo Oncology traded as low as $171.99 and last traded at $165.59, with a volume of 121076 shares. The stock had previously closed at $160.60.

Several other equities research analysts have also commented on the stock. BTIG Research reissued a “buy” rating and issued a $156.00 price target on shares of Loxo Oncology in a report on Thursday. JMP Securities set a $152.00 price target on shares of Loxo Oncology and gave the stock a “buy” rating in a report on Wednesday, May 9th. Zacks Investment Research lowered shares of Loxo Oncology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 8th. ValuEngine raised shares of Loxo Oncology from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 2nd. Finally, Morgan Stanley raised shares of Loxo Oncology from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $130.00 to $170.00 in a report on Monday, April 16th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and three have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $152.89.

In other Loxo Oncology news, VP Jennifer Burstein sold 1,700 shares of Loxo Oncology stock in a transaction on Tuesday, March 13th. The shares were sold at an average price of $131.33, for a total transaction of $223,261.00. Following the sale, the vice president now owns 1,700 shares of the company’s stock, valued at approximately $223,261. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Joshua H. Bilenker sold 15,000 shares of Loxo Oncology stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $131.54, for a total transaction of $1,973,100.00. Following the sale, the chief executive officer now directly owns 190,207 shares in the company, valued at approximately $25,019,828.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,646 shares of company stock worth $8,331,001. 44.40% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in LOXO. Quantbot Technologies LP boosted its stake in Loxo Oncology by 770.1% during the 1st quarter. Quantbot Technologies LP now owns 931 shares of the biopharmaceutical company’s stock worth $107,000 after purchasing an additional 824 shares during the last quarter. IFP Advisors Inc boosted its stake in Loxo Oncology by 509.6% during the 1st quarter. IFP Advisors Inc now owns 1,012 shares of the biopharmaceutical company’s stock worth $117,000 after purchasing an additional 846 shares during the last quarter. QS Investors LLC acquired a new stake in Loxo Oncology during the 4th quarter worth $118,000. Xact Kapitalforvaltning AB acquired a new stake in Loxo Oncology during the 4th quarter worth $208,000. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Loxo Oncology by 26.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 2,917 shares of the biopharmaceutical company’s stock worth $246,000 after purchasing an additional 617 shares during the last quarter.

The company has a market capitalization of $4.23 billion, a PE ratio of -31.55 and a beta of 2.32.

Loxo Oncology (NASDAQ:LOXO) last announced its earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.01. During the same quarter last year, the firm posted ($0.96) EPS. equities analysts forecast that Loxo Oncology will post 0.55 EPS for the current year.

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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