Loxo Oncology, Inc. (LOXO) Receives $92.00 Average PT from Brokerages

Shares of Loxo Oncology, Inc. (NASDAQ:LOXO) have been given a consensus recommendation of “Buy” by the eleven brokerages that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $92.00.

LOXO has been the subject of a number of recent analyst reports. Citigroup lowered their price target on shares of Loxo Oncology from $112.00 to $108.00 and set a “buy” rating for the company in a report on Thursday, November 16th. BTIG Research reiterated a “buy” rating and set a $102.00 price target (up from $75.00) on shares of Loxo Oncology in a report on Friday, September 29th. Cowen reiterated a “buy” rating on shares of Loxo Oncology in a report on Thursday, September 28th. Zacks Investment Research upgraded shares of Loxo Oncology from a “sell” rating to a “hold” rating in a report on Tuesday, January 9th. Finally, BidaskClub upgraded shares of Loxo Oncology from a “sell” rating to a “hold” rating in a report on Friday, December 22nd.

In other Loxo Oncology news, CEO Joshua H. Bilenker sold 7,500 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $86.49, for a total value of $648,675.00. Following the completion of the transaction, the chief executive officer now directly owns 196,207 shares in the company, valued at approximately $16,969,943.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Orbimed Advisors Llc sold 270,000 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $74.26, for a total transaction of $20,050,200.00. The disclosure for this sale can be found here. Insiders sold a total of 1,614,555 shares of company stock valued at $124,567,942 over the last 90 days. Company insiders own 44.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Quantbot Technologies LP bought a new position in Loxo Oncology in the 3rd quarter worth $122,000. Ameritas Investment Partners Inc. raised its holdings in Loxo Oncology by 31.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,758 shares of the biopharmaceutical company’s stock worth $141,000 after purchasing an additional 419 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Loxo Oncology by 4,388.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,244 shares of the biopharmaceutical company’s stock worth $180,000 after purchasing an additional 2,194 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in Loxo Oncology in the 3rd quarter worth $212,000. Finally, SG Americas Securities LLC bought a new position in Loxo Oncology in the 2nd quarter worth $228,000. Institutional investors and hedge funds own 99.98% of the company’s stock.

Loxo Oncology (NASDAQ LOXO) traded up $1.13 during trading hours on Tuesday, reaching $89.99. 440,691 shares of the company were exchanged, compared to its average volume of 393,898. Loxo Oncology has a 52 week low of $36.75 and a 52 week high of $95.92. The company has a market cap of $2,690.00, a price-to-earnings ratio of -15.49 and a beta of 2.54.

Loxo Oncology (NASDAQ:LOXO) last posted its quarterly earnings results on Thursday, November 2nd. The biopharmaceutical company reported ($1.12) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.38) by $0.26. analysts expect that Loxo Oncology will post -5.91 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: This story was published by TrueBlueTribune and is owned by of TrueBlueTribune. If you are reading this story on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright legislation. The correct version of this story can be accessed at https://www.truebluetribune.com/2018/01/15/loxo-oncology-inc-loxo-receives-92-00-average-pt-from-brokerages.html.

About Loxo Oncology

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)

Receive News & Ratings for Loxo Oncology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Loxo Oncology and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply