Loxo Oncology, Inc. (LOXO) Issues Quarterly Earnings Results
Loxo Oncology, Inc. (NASDAQ:LOXO) issued its quarterly earnings results on Tuesday. The biopharmaceutical company reported ($1.14) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.99) by $0.15, Bloomberg Earnings reports. During the same quarter in the previous year, the business earned ($0.77) earnings per share.
Loxo Oncology (LOXO) opened at 73.11 on Wednesday. The firm’s market capitalization is $1.91 billion. Loxo Oncology has a 12 month low of $17.14 and a 12 month high of $83.12. The stock’s 50 day moving average price is $75.35 and its 200-day moving average price is $53.58.
In other Loxo Oncology news, Director Keith T. Flaherty sold 7,250 shares of Loxo Oncology stock in a transaction 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 completion of the transaction, the director now owns 27,141 shares in the company, valued at $1,223,787.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 27.80% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in LOXO. FMR LLC boosted its position in shares of 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 boosted its position in shares of 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. Alliancebernstein L.P. boosted its position in shares of 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. Marshall Wace North America L.P. bought a new position in shares of Loxo Oncology during the second quarter worth about $33,347,000. Finally, State Street Corp boosted its position in shares of Loxo Oncology by 155.2% in the first quarter. State Street Corp now owns 547,017 shares of the biopharmaceutical company’s stock worth $23,019,000 after buying an additional 332,696 shares during the last quarter.
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Several brokerages have issued reports on LOXO. Zacks Investment Research raised Loxo Oncology from a “hold” rating to a “buy” rating and set a $82.00 price target on the stock in a research note on Wednesday. BidaskClub lowered Loxo Oncology from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Stifel Nicolaus reissued a “buy” rating and issued a $71.00 price target on shares of Loxo Oncology in a research note on Thursday, August 3rd. BTIG Research reissued a “buy” rating and issued a $75.00 price target on shares of Loxo Oncology in a research note on Thursday, August 3rd. Finally, Morgan Stanley reissued an “overweight” rating and issued a $91.00 price target on shares of Loxo Oncology in a research note on Monday, June 19th. One equities research analyst has rated the stock with a sell rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $75.83.
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.
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