Shares of Loxo Oncology, Inc. (NASDAQ:LOXO) have received a consensus recommendation of “Buy” from the eight research firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $74.60.

A number of equities research analysts have recently issued reports on LOXO shares. Morgan Stanley reaffirmed an “overweight” rating and issued a $91.00 price objective on shares of Loxo Oncology in a research note on Monday, June 19th. Zacks Investment Research downgraded shares of Loxo Oncology from a “buy” rating to a “hold” rating in a report on Wednesday, April 12th. BidaskClub downgraded shares of Loxo Oncology from a “buy” rating to a “hold” rating in a report on Sunday. Stifel Nicolaus lifted their price target on shares of Loxo Oncology from $52.00 to $71.00 and gave the company a “buy” rating in a report on Monday, June 5th. Finally, BTIG Research reaffirmed a “buy” rating and set a $75.00 price target on shares of Loxo Oncology in a report on Tuesday, June 6th.

ILLEGAL ACTIVITY WARNING: “Loxo Oncology, Inc. (LOXO) Receives Average Rating of “Buy” from Brokerages” was originally published by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US and international copyright and trademark laws. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2017/07/18/loxo-oncology-inc-loxo-receives-average-rating-of-buy-from-brokerages.html.

In other news, Director Keith T. Flaherty sold 7,250 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $45.09, for a total transaction of $326,902.50. Following the transaction, the director now owns 27,141 shares in the company, valued at approximately $1,223,787.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 27.80% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of the company. Aisling Capital LLC increased its stake in shares of Loxo Oncology by 4.0% in the first quarter. Aisling Capital LLC now owns 4,188,920 shares of the biopharmaceutical company’s stock worth $176,270,000 after buying an additional 160,000 shares during the period. FMR LLC raised its position in Loxo Oncology by 20.6% in the first quarter. FMR LLC now owns 3,922,013 shares of the biopharmaceutical company’s stock worth $165,039,000 after buying an additional 670,306 shares during the last quarter. Wellington Management Group LLP raised its position in Loxo Oncology by 34.4% in the first quarter. Wellington Management Group LLP now owns 2,437,872 shares of the biopharmaceutical company’s stock worth $102,587,000 after buying an additional 623,730 shares during the last quarter. Vanguard Group Inc. raised its position in Loxo Oncology by 42.8% in the first quarter. Vanguard Group Inc. now owns 733,248 shares of the biopharmaceutical company’s stock worth $30,856,000 after buying an additional 219,837 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in Loxo Oncology by 6,330.9% in the first quarter. Alliancebernstein L.P. now owns 623,802 shares of the biopharmaceutical company’s stock worth $26,250,000 after buying an additional 614,102 shares during the last quarter.

Loxo Oncology (NASDAQ:LOXO) traded down 0.23% on Tuesday, reaching $72.97. The company’s stock had a trading volume of 213,876 shares. The firm’s market cap is $1.91 billion. The firm’s 50 day moving average is $62.14 and its 200-day moving average is $46.38. Loxo Oncology has a 12 month low of $17.14 and a 12 month high of $83.12.

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

About Loxo Oncology

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)

Receive News & Ratings for Loxo Oncology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Loxo Oncology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.