Loxo Oncology (LOXO) Earns Buy Rating from William Blair

Loxo Oncology (NASDAQ:LOXO)‘s stock had its “buy” rating reaffirmed by stock analysts at William Blair in a research note issued to investors on Monday.

Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of Loxo Oncology from a “buy” rating to a “hold” rating in a research note on Thursday, August 16th. Guggenheim began coverage on shares of Loxo Oncology in a research note on Monday, September 17th. They set a “neutral” rating on the stock. Leerink Swann initiated coverage on shares of Loxo Oncology in a research note on Monday, September 24th. They set an “outperform” rating and a $205.00 target price on the stock. BidaskClub raised shares of Loxo Oncology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 7th. Finally, Cowen reissued a “buy” rating on shares of Loxo Oncology in a research report on Thursday, August 9th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. Loxo Oncology has a consensus rating of “Buy” and a consensus price target of $187.83.

Shares of LOXO opened at $159.60 on Monday. Loxo Oncology has a 52-week low of $71.45 and a 52-week high of $208.95. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of -30.06 and a beta of 2.26.

Loxo Oncology (NASDAQ:LOXO) last announced its earnings results on Thursday, August 9th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.15. The business had revenue of $42.60 million for the quarter, compared to analyst estimates of $32.36 million. During the same period last year, the firm earned ($0.94) EPS. Sell-side analysts forecast that Loxo Oncology will post -2.54 earnings per share for the current year.

In related news, VP Jennifer Burstein sold 2,500 shares of the business’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $159.24, for a total value of $398,100.00. Following the sale, the vice president now directly owns 1,250 shares in the company, valued at approximately $199,050. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Joshua H. Bilenker sold 15,000 shares of the business’s stock in a transaction dated Tuesday, July 10th. The shares were sold at an average price of $183.48, for a total transaction of $2,752,200.00. Following the completion of the sale, the chief executive officer now owns 142,907 shares in the company, valued at $26,220,576.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,520,582 shares of company stock worth $271,318,297. Corporate insiders own 17.10% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of LOXO. Quantbot Technologies LP raised its holdings in Loxo Oncology by 770.1% in the 1st quarter. Quantbot Technologies LP now owns 931 shares of the biopharmaceutical company’s stock valued at $107,000 after buying an additional 824 shares during the period. Fortaleza Asset Management Inc. purchased a new stake in Loxo Oncology in the 2nd quarter valued at about $110,000. First Mercantile Trust Co. purchased a new stake in Loxo Oncology in the 2nd quarter valued at about $122,000. Douglass Winthrop Advisors LLC purchased a new stake in Loxo Oncology in the 2nd quarter valued at about $204,000. Finally, Zeke Capital Advisors LLC purchased a new stake in Loxo Oncology in the 2nd quarter valued at about $208,000. Hedge funds and other institutional investors own 97.44% of the company’s stock.

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.

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Analyst Recommendations for Loxo Oncology (NASDAQ:LOXO)

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