Loxo Oncology Inc. (LOXO) Rating Increased to Hold at Zacks Investment Research
Loxo Oncology Inc. (NASDAQ:LOXO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
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. “
Separately, Cowen and Company restated a “buy” rating on shares of Loxo Oncology in a research note on Wednesday, July 13th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $29.60.
Loxo Oncology (NASDAQ:LOXO) opened at 22.97 on Wednesday. The stock’s market cap is $497.62 million. Loxo Oncology has a 52 week low of $16.36 and a 52 week high of $35.00. The company’s 50-day moving average is $26.60 and its 200 day moving average is $25.46.
Loxo Oncology (NASDAQ:LOXO) last posted its earnings results on Wednesday, August 3rd. The biopharmaceutical company reported ($0.77) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by $0.14. On average, analysts expect that Loxo Oncology will post ($2.83) earnings per share for the current fiscal year.
In other news, Director David P. Bonita sold 447,857 shares of the stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $26.96, for a total value of $12,074,224.72. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Keith T. Flaherty sold 14,500 shares of the stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $30.00, for a total transaction of $435,000.00. Following the completion of the transaction, the director now owns 45,982 shares in the company, valued at approximately $1,379,460. The disclosure for this sale can be found here. 44.40% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. State Street Corp boosted its position in shares of Loxo Oncology by 7.4% in the first quarter. State Street Corp now owns 133,074 shares of the biopharmaceutical company’s stock valued at $3,638,000 after buying an additional 9,142 shares during the period. UBS Asset Management Americas Inc. acquired a new position in shares of Loxo Oncology during the first quarter valued at $2,197,000. Geode Capital Management LLC boosted its position in shares of Loxo Oncology by 3.9% in the first quarter. Geode Capital Management LLC now owns 57,068 shares of the biopharmaceutical company’s stock valued at $1,560,000 after buying an additional 2,126 shares during the period. Wellington Management Group LLP acquired a new position in shares of Loxo Oncology during the first quarter valued at $13,518,000. Finally, Adage Capital Partners GP L.L.C. boosted its position in shares of Loxo Oncology by 40.0% in the first quarter. Adage Capital Partners GP L.L.C. now owns 700,000 shares of the biopharmaceutical company’s stock valued at $19,138,000 after buying an additional 200,000 shares during the period. Hedge funds and other institutional investors own 95.46% of the company’s stock.
About Loxo Oncology
Loxo Oncology, Inc is a United States-based biopharmaceutical company. The Company is engaged in developing selective medicines for patients with genetically defined cancers. Its pipeline focuses on cancers that are dependent on single gene abnormalities, such that a single drug has the potential to treat the cancer.
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