Ifs Securities upgraded shares of Loxo Oncology (NASDAQ:LOXO) from a market perform rating to an outperform rating in a research note issued to investors on Monday, The Fly reports.
LOXO has been the subject of several other research reports. Stifel Nicolaus cut their target price on Loxo Oncology from $225.00 to $217.00 and set a buy rating for the company in a research report on Friday, August 10th. Goldman Sachs Group initiated coverage on Loxo Oncology in a research report on Monday, September 17th. They set a neutral rating and a $165.00 target price for the company. Cowen reiterated a buy rating on shares of Loxo Oncology in a research report on Sunday. BidaskClub upgraded Loxo Oncology from a buy rating to a strong-buy rating in a research report on Saturday, September 29th. Finally, Cann reiterated a buy rating and set a $202.00 target price on shares of Loxo Oncology in a research report on Monday, August 27th. Three research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and a consensus price target of $187.83.
NASDAQ:LOXO opened at $163.50 on Monday. Loxo Oncology has a 12-month low of $71.45 and a 12-month high of $208.95. The stock has a market cap of $5.21 billion, a P/E ratio of -30.79 and a beta of 2.26.
In other Loxo Oncology news, CEO Joshua H. Bilenker sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 4th. The stock was sold at an average price of $164.94, for a total transaction of $3,298,800.00. Following the completion of the transaction, the chief executive officer now owns 145,407 shares in the company, valued at approximately $23,983,430.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lori Anne Kunkel sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $170.37, for a total value of $851,850.00. Following the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $851,850. The disclosure for this sale can be found here. Insiders have sold a total of 102,500 shares of company stock valued at $16,798,550 in the last 90 days. 17.10% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Quantbot Technologies LP boosted its holdings in shares of Loxo Oncology by 770.1% in 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 period. Fortaleza Asset Management Inc. purchased a new position in shares of Loxo Oncology in the 2nd quarter worth approximately $110,000. First Mercantile Trust Co. purchased a new position in shares of Loxo Oncology in the 2nd quarter worth approximately $122,000. Douglass Winthrop Advisors LLC purchased a new position in shares of Loxo Oncology in the 2nd quarter worth approximately $204,000. Finally, Zeke Capital Advisors LLC purchased a new position in shares of Loxo Oncology in the 2nd quarter worth approximately $208,000. Hedge funds and other institutional investors own 97.44% of the company’s stock.
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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