Shares of Loxo Oncology Inc (NASDAQ:LOXO) have earned a consensus rating of “Buy” from the eighteen research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $188.73.
A number of equities research analysts have recently weighed in on the company. Guggenheim assumed coverage on Loxo Oncology in a research report on Monday, September 17th. They issued a “neutral” rating on the stock. Zacks Investment Research lowered Loxo Oncology from a “buy” rating to a “hold” rating in a research report on Thursday, August 16th. Leerink Swann assumed coverage on Loxo Oncology in a research report on Monday, September 24th. They issued an “outperform” rating and a $205.00 price objective on the stock. Cowen reiterated a “buy” rating on shares of Loxo Oncology in a research report on Monday, October 22nd. Finally, William Blair reiterated a “buy” rating on shares of Loxo Oncology in a research report on Monday, October 22nd.
LOXO traded down $7.06 on Monday, hitting $166.77. 281,936 shares of the company were exchanged, compared to its average volume of 319,382. Loxo Oncology has a 12 month low of $71.45 and a 12 month high of $208.95. The firm has a market cap of $5.37 billion, a price-to-earnings ratio of -31.41 and a beta of 2.26.
In other news, insider Naarden Jacob Van sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 4th. The stock was sold at an average price of $165.13, for a total value of $1,651,300.00. Following the completion of the transaction, the insider now owns 19,200 shares in the company, valued at approximately $3,170,496. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 completion of 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. In the last 90 days, insiders sold 102,500 shares of company stock valued at $16,798,550. 17.10% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in LOXO. Russell Investments Group Ltd. lifted its stake in shares of Loxo Oncology by 92.5% in the 1st quarter. Russell Investments Group Ltd. now owns 16,212 shares of the biopharmaceutical company’s stock valued at $1,870,000 after purchasing an additional 7,788 shares during the period. UBS Group AG lifted its stake in shares of Loxo Oncology by 120.4% in the 1st quarter. UBS Group AG now owns 28,026 shares of the biopharmaceutical company’s stock valued at $3,233,000 after purchasing an additional 15,308 shares during the period. Millennium Management LLC lifted its stake in shares of Loxo Oncology by 90.4% in the 1st quarter. Millennium Management LLC now owns 15,398 shares of the biopharmaceutical company’s stock valued at $1,776,000 after purchasing an additional 7,312 shares during the period. Xact Kapitalforvaltning AB lifted its stake in shares of Loxo Oncology by 28.4% in the 1st quarter. Xact Kapitalforvaltning AB now owns 3,165 shares of the biopharmaceutical company’s stock valued at $365,000 after purchasing an additional 700 shares during the period. Finally, Suntrust Banks Inc. purchased a new position in shares of Loxo Oncology in the 1st quarter valued at approximately $277,000. Institutional investors own 97.77% 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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