Loxo Oncology Inc (NASDAQ:LOXO) has earned a consensus recommendation of “Buy” from the thirteen ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, ten have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $124.44.
A number of research analysts have recently weighed in on the company. Morgan Stanley lowered Loxo Oncology from an “overweight” rating to an “equal weight” rating and set a $103.00 price objective for the company. in a research report on Wednesday. They noted that the move was a valuation call. Zacks Investment Research upgraded Loxo Oncology from a “hold” rating to a “buy” rating and set a $148.00 price objective for the company in a research report on Friday, March 9th. Citigroup restated a “buy” rating and set a $151.00 price objective (up previously from $108.00) on shares of Loxo Oncology in a research report on Monday, March 5th. Stifel Nicolaus restated a “buy” rating and set a $135.00 price objective on shares of Loxo Oncology in a research report on Friday, March 2nd. Finally, Cann restated a “buy” rating and set a $122.00 price objective on shares of Loxo Oncology in a research report on Thursday, March 1st.
Loxo Oncology stock traded down $4.93 during trading hours on Friday, reaching $111.25. The company’s stock had a trading volume of 528,284 shares, compared to its average volume of 480,129. The company has a market capitalization of $3,341.28, a PE ratio of -21.23 and a beta of 2.37. Loxo Oncology has a twelve month low of $40.52 and a twelve month high of $135.74.
In related news, CEO Joshua H. Bilenker sold 15,000 shares of Loxo Oncology stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $131.54, for a total value of $1,973,100.00. Following the completion of the transaction, the chief executive officer now owns 190,207 shares in the company, valued at $25,019,828.78. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Jennifer Burstein sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $87.50, for a total value of $131,250.00. Following the transaction, the vice president now owns 1,500 shares of the company’s stock, valued at approximately $131,250. The disclosure for this sale can be found here. In the last quarter, insiders sold 74,146 shares of company stock valued at $7,731,608. 44.40% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the business. Quantbot Technologies LP purchased a new position in shares of Loxo Oncology during the third quarter valued at approximately $122,000. QS Investors LLC bought a new position in Loxo Oncology in the fourth quarter worth approximately $118,000. Cambridge Investment Research Advisors Inc. bought a new position in Loxo Oncology in the third quarter worth approximately $212,000. Xact Kapitalforvaltning AB bought a new position in Loxo Oncology in the fourth quarter worth approximately $208,000. Finally, Amalgamated Bank bought a new position in Loxo Oncology in the third quarter worth approximately $268,000.
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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.
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