Loxo Oncology, Inc. (NASDAQ:LOXO) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

Several other research analysts have also recently commented on the company. Zacks Investment Research cut Loxo Oncology from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. Stifel Nicolaus upped their price objective on Loxo Oncology from $52.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, June 5th. Citigroup Inc. raised Loxo Oncology from a “neutral” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Monday, June 5th. Morgan Stanley reaffirmed an “overweight” rating and set a $91.00 price objective on shares of Loxo Oncology in a research report on Monday, June 19th. Finally, BTIG Research reaffirmed a “buy” rating and set a $75.00 price objective on shares of Loxo Oncology in a research report on Tuesday, June 6th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $70.83.

Shares of Loxo Oncology (NASDAQ:LOXO) traded down 0.57% during midday trading on Friday, reaching $74.41. The company had a trading volume of 209,915 shares. The company’s 50 day moving average price is $62.14 and its 200-day moving average price is $46.38. Loxo Oncology has a 52 week low of $17.14 and a 52 week high of $83.12. The company’s market capitalization is $1.95 billion.

Loxo Oncology (NASDAQ:LOXO) last released its earnings results on Tuesday, May 9th. The biopharmaceutical company reported ($0.96) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.76) by $0.20. On average, equities research analysts predict that Loxo Oncology will post ($4.22) earnings per share for the current fiscal year.

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In other news, Director Keith T. Flaherty sold 7,250 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $45.09, for a total transaction of $326,902.50. Following the completion of the transaction, the director now directly owns 27,141 shares of the company’s stock, valued at approximately $1,223,787.69. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 44.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LOXO. Aisling Capital LLC boosted its position in Loxo Oncology by 4.0% in the first quarter. Aisling Capital LLC now owns 4,188,920 shares of the biopharmaceutical company’s stock valued at $176,270,000 after buying an additional 160,000 shares in the last quarter. American International Group Inc. boosted its position in Loxo Oncology by 27.1% in the first quarter. American International Group Inc. now owns 9,749 shares of the biopharmaceutical company’s stock valued at $410,000 after buying an additional 2,081 shares in the last quarter. Parametric Portfolio Associates LLC acquired a new position in Loxo Oncology during the first quarter valued at about $1,586,000. Swiss National Bank boosted its position in Loxo Oncology by 53.5% in the first quarter. Swiss National Bank now owns 28,700 shares of the biopharmaceutical company’s stock valued at $1,208,000 after buying an additional 10,000 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Loxo Oncology by 41.8% in the first quarter. Bank of New York Mellon Corp now owns 102,442 shares of the biopharmaceutical company’s stock valued at $4,310,000 after buying an additional 30,210 shares in the last quarter.

Loxo Oncology Company Profile

Loxo Oncology, Inc is a biopharmaceutical company. The Company is focused on development of medicines for patients with genetically defined cancers. The Company’s pipeline focuses on cancers that are dependent on single gene abnormalities, such that a single drug has the potential to treat the cancer with dramatic effect.

Analyst Recommendations for Loxo Oncology (NASDAQ:LOXO)

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