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Equities researchers at Oppenheimer initiated coverage on shares of Loxo Oncology (NASDAQ:LOXO) in a research report issued on Tuesday. The firm set an “outperform” rating and a $20.00 price target on the stock. Oppenheimer’s price objective suggests a potential upside of 53.73% from the stock’s previous close.

Loxo Oncology (NASDAQ:LOXO) opened at 13.01 on Tuesday. Loxo Oncology has a 1-year low of $12.687 and a 1-year high of $13.42. The stock’s 50-day moving average is $13.03 and its 200-day moving average is $13.03. The company’s market cap is $207.4 million.

A number of other firms have also recently commented on LOXO. Analysts at Cowen and Company initiated coverage on shares of Loxo Oncology in a research note on Tuesday. They set an “outperform” rating on the stock. Separately, analysts at Stifel Nicolaus initiated coverage on shares of Loxo Oncology in a research note on Tuesday. They set a “buy” rating and a $20.00 price target on the stock. Finally, analysts at JMP Securities initiated coverage on shares of Loxo Oncology in a research note on Tuesday, August 26th. They set an “outperform” rating and a $23.00 price target on the stock. Five equities research analysts have rated the stock with a buy rating, Loxo Oncology currently has an average rating of “Buy” and a consensus target price of $20.75.

Loxo Oncology, Inc (NASDAQ:LOXO) develops targeted small molecule therapeutics for the treatment of cancer in genetically defined patient populations.

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