Zacks Investment Research Downgrades Loxo Oncology (LOXO) to Sell

Loxo Oncology (NASDAQ:LOXO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

According to Zacks, “Loxo Oncology, Inc. is a biopharmaceutical company. It develops targeted small molecule therapeutics for the treatment of cancer in genetically defined patient populations. Loxo Oncology, Inc. is headquartered in Stamford, Connecticut. “

Other equities research analysts have also recently issued reports about the stock. William Blair reaffirmed a “buy” rating on shares of Loxo Oncology in a research report on Monday, October 8th. Piper Jaffray Companies set a $200.00 target price on shares of Loxo Oncology and gave the stock a “buy” rating in a research report on Sunday, October 7th. Cowen reaffirmed a “buy” rating on shares of Loxo Oncology in a research report on Sunday, October 7th. Cann reaffirmed a “buy” rating and issued a $202.00 target price on shares of Loxo Oncology in a research report on Monday, September 17th. Finally, Stifel Nicolaus dropped their target price on shares of Loxo Oncology from $225.00 to $217.00 and set a “buy” rating for the company in a research report on Friday, August 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $188.75.

Shares of LOXO opened at $166.77 on Friday. The firm has a market cap of $5.21 billion, a price-to-earnings ratio of -31.41 and a beta of 2.26. Loxo Oncology has a twelve month low of $71.45 and a twelve month high of $208.95.

Loxo Oncology (NASDAQ:LOXO) last posted its earnings results on Thursday, November 8th. The biopharmaceutical company reported ($0.89) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.65) by ($0.24). The firm had revenue of $42.47 million for the quarter, compared to analysts’ expectations of $38.55 million. During the same period last year, the company posted ($2.45) earnings per share. As a group, equities research analysts expect that Loxo Oncology will post -2.52 earnings per share for the current fiscal year.

In related news, VP Jennifer Burstein sold 2,500 shares of the 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 completion of the transaction, the vice president now directly owns 1,250 shares in the company, valued at approximately $199,050. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Joshua H. Bilenker sold 20,000 shares of the stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $159.41, for a total transaction of $3,188,200.00. Following the completion of the transaction, the chief executive officer now owns 145,407 shares of the company’s stock, valued at $23,179,329.87. The disclosure for this sale can be found here. Over the last quarter, insiders sold 102,500 shares of company stock valued at $16,798,550. 17.10% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of LOXO. Fortaleza Asset Management Inc. bought a new position in shares of Loxo Oncology in the 2nd quarter worth about $110,000. First Mercantile Trust Co. bought a new position in shares of Loxo Oncology in the 2nd quarter worth about $122,000. Douglass Winthrop Advisors LLC bought a new position in shares of Loxo Oncology in the 2nd quarter worth about $204,000. Zeke Capital Advisors LLC bought a new position in shares of Loxo Oncology in the 2nd quarter worth about $208,000. Finally, Commonwealth Equity Services LLC bought a new position in shares of Loxo Oncology in the 2nd quarter worth about $209,000. Institutional investors own 97.77% 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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