Loxo Oncology Inc. (LOXO) Raised to “Hold” at Zacks Investment Research
Loxo Oncology Inc. (NASDAQ:LOXO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
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. “
Separately, Cowen and Company restated a “buy” rating on shares of Loxo Oncology in a report on Wednesday, July 13th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $29.60.
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Shares of Loxo Oncology (NASDAQ:LOXO) traded down 3.26% during mid-day trading on Wednesday, hitting $22.26. 67,604 shares of the stock were exchanged. Loxo Oncology has a 12 month low of $16.36 and a 12 month high of $35.00. The firm’s market cap is $482.24 million. The stock’s 50 day moving average is $26.35 and its 200 day moving average is $25.43.
Loxo Oncology (NASDAQ:LOXO) last released its quarterly earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by $0.14. Analysts expect that Loxo Oncology will post ($2.91) EPS for the current fiscal year.
In other Loxo Oncology news, Director Keith T. Flaherty sold 14,500 shares of the stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $30.00, for a total value of $435,000.00. Following the sale, the director now owns 45,982 shares in the company, valued at $1,379,460. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director David P. Bonita sold 447,857 shares of the stock in a transaction on Wednesday, August 10th. The stock was sold at an average price of $26.96, for a total value of $12,074,224.72. The disclosure for this sale can be found here. 44.40% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in LOXO. RS Investment Management Co. LLC raised its stake in Loxo Oncology by 7.0% in the second quarter. RS Investment Management Co. LLC now owns 1,505,004 shares of the biopharmaceutical company’s stock worth $34,886,000 after buying an additional 98,038 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in Loxo Oncology by 40.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 700,000 shares of the biopharmaceutical company’s stock worth $19,138,000 after buying an additional 200,000 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in Loxo Oncology by 160.3% in the second quarter. UBS Asset Management Americas Inc. now owns 209,098 shares of the biopharmaceutical company’s stock worth $4,847,000 after buying an additional 128,754 shares during the last quarter. GSA Capital Partners LLP increased its position in Loxo Oncology by 13.7% in the second quarter. GSA Capital Partners LLP now owns 14,440 shares of the biopharmaceutical company’s stock worth $335,000 after buying an additional 1,740 shares during the last quarter. Finally, State Street Corp increased its position in Loxo Oncology by 7.4% in the first quarter. State Street Corp now owns 133,074 shares of the biopharmaceutical company’s stock worth $3,638,000 after buying an additional 9,142 shares during the last quarter. Institutional investors and hedge funds own 95.46% of the company’s stock.
Loxo Oncology Company Profile
Loxo Oncology, Inc is a United States-based biopharmaceutical company. The Company is engaged in developing selective medicines for patients with genetically defined cancers. Its pipeline focuses on cancers that are dependent on single gene abnormalities, such that a single drug has the potential to treat the cancer.
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