Loxo Oncology, Inc. (LOXO) Downgraded to “Hold” at Zacks Investment Research
Loxo Oncology, Inc. (NASDAQ:LOXO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.
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. “
LOXO has been the topic of a number of other reports. Morgan Stanley restated an “overweight” rating and issued a $91.00 target price on shares of Loxo Oncology in a research note on Monday, June 19th. Stifel Nicolaus boosted their target price on Loxo Oncology from $52.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, June 5th. Citigroup Inc. upgraded Loxo Oncology from a “neutral” rating to a “buy” rating and set a $86.00 target price on the stock in a research note on Monday, June 5th. BTIG Research restated a “buy” rating and issued a $75.00 target price on shares of Loxo Oncology in a research note on Tuesday, June 6th. Finally, Cowen and Company restated an “outperform” rating on shares of Loxo Oncology in a research note on Monday, June 5th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Loxo Oncology currently has a consensus rating of “Buy” and a consensus target price of $79.67.
Loxo Oncology (NASDAQ:LOXO) traded up 1.13% during mid-day trading on Friday, hitting $73.26. 217,440 shares of the company were exchanged. The stock’s 50 day moving average is $75.16 and its 200-day moving average is $54.80. Loxo Oncology has a 12-month low of $17.14 and a 12-month high of $83.12. The company’s market cap is $2.19 billion.
Loxo Oncology (NASDAQ:LOXO) last announced its earnings results on Tuesday, August 8th. 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. During the same quarter in the prior year, the firm earned ($0.77) earnings per share. Equities research analysts predict that Loxo Oncology will post ($4.34) EPS for the current year.
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In related news, Director Keith T. Flaherty sold 7,250 shares of the business’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 in the company, valued at $1,223,787.69. The transaction was disclosed in a document filed with the SEC, which is available through this link. 44.40% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Legal & General Group Plc raised its stake in Loxo Oncology by 8.4% in the first quarter. Legal & General Group Plc now owns 3,682 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 284 shares during the period. Wells Fargo & Company MN raised its stake in Loxo Oncology by 3.8% in the second quarter. Wells Fargo & Company MN now owns 16,095 shares of the biopharmaceutical company’s stock worth $1,291,000 after buying an additional 592 shares during the period. Teachers Advisors LLC raised its stake in Loxo Oncology by 4.3% in the fourth quarter. Teachers Advisors LLC now owns 22,139 shares of the biopharmaceutical company’s stock worth $711,000 after buying an additional 905 shares during the period. Alps Advisors Inc. raised its stake in Loxo Oncology by 7.4% in the second quarter. Alps Advisors Inc. now owns 23,601 shares of the biopharmaceutical company’s stock worth $1,893,000 after buying an additional 1,623 shares during the period. Finally, ProShare Advisors LLC raised its stake in Loxo Oncology by 13.2% in the second quarter. ProShare Advisors LLC now owns 15,192 shares of the biopharmaceutical company’s stock worth $1,218,000 after buying an additional 1,767 shares during the period.
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.
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