Loxo Oncology (LOXO) Raised to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Loxo Oncology (NASDAQ:LOXO) from a sell rating to a hold rating in a research report released on Friday.

According to Zacks, “Loxo Oncology, Inc. is a biopharmaceutical company. It develops targeted small molecule therapeutics for the treatment of cancer in genetically defined patient populations. Loxo Oncology, Inc. is headquartered in Stamford, Connecticut. “

Several other equities research analysts also recently commented on LOXO. Cowen reaffirmed a buy rating on shares of Loxo Oncology in a research note on Thursday, August 9th. Stifel Nicolaus lowered their target price on shares of Loxo Oncology from $225.00 to $217.00 and set a buy rating for the company in a research note on Friday, August 10th. Cann reaffirmed a buy rating and issued a $202.00 target price on shares of Loxo Oncology in a research note on Monday, August 27th. Goldman Sachs Group started coverage on shares of Loxo Oncology in a research note on Monday, September 17th. They issued a neutral rating and a $165.00 target price for the company. Finally, Guggenheim started coverage on shares of Loxo Oncology in a research note on Monday, September 17th. They issued a neutral rating for the company. Three analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $190.31.

Shares of NASDAQ LOXO opened at $155.27 on Friday. Loxo Oncology has a fifty-two week low of $71.45 and a fifty-two week high of $208.95. The company has a market capitalization of $4.79 billion, a P/E ratio of -29.24 and a beta of 2.26.

Loxo Oncology (NASDAQ:LOXO) last announced its quarterly earnings data on Thursday, November 8th. The biopharmaceutical company reported ($0.89) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.65) by ($0.24). Loxo Oncology had a negative net margin of 43.49% and a negative return on equity of 16.42%. The business had revenue of $42.47 million during the quarter, compared to analyst estimates of $38.55 million. During the same quarter in the prior year, the company earned ($2.45) earnings per share. Equities analysts predict that Loxo Oncology will post -2.34 EPS for the current fiscal year.

In other news, CEO Joshua H. Bilenker sold 20,000 shares of the stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $166.20, for a total transaction of $3,324,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jennifer Burstein sold 2,500 shares of the stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $166.96, for a total transaction of $417,400.00. Following the sale, the vice president now directly owns 1,250 shares of the company’s stock, valued at approximately $208,700. The disclosure for this sale can be found here. Insiders have sold 70,000 shares of company stock valued at $11,618,850 in the last three months. 17.10% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Neuberger Berman Group LLC increased its position in shares of Loxo Oncology by 200.0% during the third quarter. Neuberger Berman Group LLC now owns 7,500 shares of the biopharmaceutical company’s stock worth $1,281,000 after acquiring an additional 5,000 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Loxo Oncology by 7.5% during the third quarter. AQR Capital Management LLC now owns 25,668 shares of the biopharmaceutical company’s stock worth $4,385,000 after acquiring an additional 1,790 shares in the last quarter. Advisors Asset Management Inc. bought a new stake in shares of Loxo Oncology during the third quarter worth $321,000. MetLife Investment Advisors LLC increased its position in shares of Loxo Oncology by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 18,794 shares of the biopharmaceutical company’s stock worth $3,211,000 after acquiring an additional 6,681 shares in the last quarter. Finally, Putnam Investments LLC increased its position in shares of Loxo Oncology by 11.5% during the third quarter. Putnam Investments LLC now owns 14,469 shares of the biopharmaceutical company’s stock worth $2,472,000 after acquiring an additional 1,497 shares in the last quarter. 95.58% of the stock is owned by institutional investors.

Loxo Oncology Company Profile

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.

Further Reading: Coverage Ratio

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