Loxo Oncology’s Quiet Period Set To Expire on September 10th (NASDAQ:LOXO)
Loxo Oncology’s (NASDAQ:LOXO) quiet period is set to expire on Wednesday, September 10th. Loxo Oncology had issued 5,261,538 shares in its IPO on August 1st, AnalystRatings.NET reports. The total size of the offering was $68,399,994 based on an initial share price of $13.00. During the company’s quiet period, underwriters and any insiders involved in the IPO are prevented from issuing any earnings forecasts or research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
LOXO has been the subject of a number of recent research reports. Analysts at Leerink Swann initiated coverage on shares of Loxo Oncology in a research note on Tuesday. They set an “outperform” rating and a $20.00 price target on the stock. Separately, analysts at Oppenheimer initiated coverage on shares of Loxo Oncology in a research note on Tuesday. They set an “outperform” rating and a $20.00 price target on the stock. Finally, 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. Five analysts have rated the stock with a buy rating, Loxo Oncology presently has an average rating of “Buy” and an average price target of $20.75.
Shares of Loxo Oncology (NASDAQ:LOXO) traded up 3.38% on Friday, hitting $15.30. The stock had a trading volume of 12,746 shares. Loxo Oncology has a 52-week low of $12.687 and a 52-week high of $14.88. The stock’s 50-day moving average is $13.20 and its 200-day moving average is $13.20. The company’s market cap is $243.9 million.
Loxo Oncology, Inc (NASDAQ:LOXO) develops targeted small molecule therapeutics for the treatment of cancer in genetically defined patient populations.
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