Loxo Oncology, Inc. (NASDAQ:LOXO) has earned an average rating of “Buy” from the eleven research firms that are presently covering the firm, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $92.00.

Several research analysts recently issued reports on the stock. BidaskClub upgraded shares of Loxo Oncology from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 12th. Citigroup reduced their price objective on shares of Loxo Oncology from $112.00 to $108.00 and set a “buy” rating for the company in a research note on Thursday, November 16th. Morgan Stanley restated an “overweight” rating and set a $103.00 price objective (up from $95.00) on shares of Loxo Oncology in a research note on Friday, October 6th. BTIG Research restated a “buy” rating and set a $102.00 price objective (up from $75.00) on shares of Loxo Oncology in a research note on Friday, September 29th. Finally, JMP Securities upgraded shares of Loxo Oncology from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $77.18 to $95.00 in a research note on Tuesday, November 14th.

Shares of Loxo Oncology (NASDAQ LOXO) traded down $0.15 during trading on Tuesday, hitting $85.41. 236,845 shares of the company traded hands, compared to its average volume of 302,174. The company has a market cap of $2,570.00, a price-to-earnings ratio of -14.70 and a beta of 2.54. Loxo Oncology has a 52 week low of $36.40 and a 52 week high of $95.92.

In related news, major shareholder Aisling Capital Iii Lp sold 500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $75.00, for a total value of $37,500,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Timothy M. Mayleben sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $80.49, for a total transaction of $804,900.00. The disclosure for this sale can be found here. Insiders sold 1,614,555 shares of company stock valued at $124,567,942 over the last quarter. Company insiders own 27.80% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Schwab Charles Investment Management Inc. raised its position in shares of Loxo Oncology by 10.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 81,716 shares of the biopharmaceutical company’s stock valued at $6,553,000 after buying an additional 7,824 shares during the last quarter. Rhumbline Advisers raised its position in shares of Loxo Oncology by 30.3% during the second quarter. Rhumbline Advisers now owns 22,626 shares of the biopharmaceutical company’s stock valued at $1,814,000 after buying an additional 5,260 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Loxo Oncology during the second quarter valued at approximately $228,000. Bank of New York Mellon Corp raised its position in shares of Loxo Oncology by 14.7% during the second quarter. Bank of New York Mellon Corp now owns 117,540 shares of the biopharmaceutical company’s stock valued at $9,426,000 after buying an additional 15,098 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Loxo Oncology by 36.2% during the second quarter. Legal & General Group Plc now owns 5,014 shares of the biopharmaceutical company’s stock valued at $405,000 after buying an additional 1,332 shares during the last quarter. 99.98% of the stock is currently owned by institutional investors and hedge funds.

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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)

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