Somewhat Positive Press Coverage Somewhat Unlikely to Impact Loxo Oncology (LOXO) Share Price
News stories about Loxo Oncology (NASDAQ:LOXO) have trended somewhat positive this week, Accern Sentiment reports. Accern rates the sentiment of news coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Loxo Oncology earned a coverage optimism score of 0.09 on Accern’s scale. Accern also gave news coverage about the biopharmaceutical company an impact score of 45.471369597738 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
These are some of the news articles that may have impacted Accern Sentiment Analysis’s scoring:
- Ignyta: Buy The Dip – Seeking Alpha (seekingalpha.com)
- Loxo Oncology, Inc. (LOXO) Given Consensus Recommendation of “Buy” by Brokerages (americanbankingnews.com)
- Stocks Under Scanner in the Biotech Space — GlycoMimetics, Genocea Biosciences, Inotek Pharma, and Loxo Oncology – Markets Insider (markets.businessinsider.com)
Loxo Oncology (LOXO) opened at 76.46 on Monday. Loxo Oncology has a 52-week low of $17.14 and a 52-week high of $84.46. The firm’s market capitalization is $2.28 billion. The stock’s 50 day moving average price is $74.80 and its 200 day moving average price is $59.69.
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 Zacks’ consensus estimate of ($0.99) by $0.15. During the same period last year, the firm earned ($0.77) earnings per share. Analysts expect that Loxo Oncology will post ($4.54) earnings per share for the current year.
LOXO has been the subject of several analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $91.00 price objective on shares of Loxo Oncology in a research report on Monday, June 19th. Zacks Investment Research raised Loxo Oncology from a “sell” rating to a “hold” rating in a research report on Thursday, June 8th. Ifs Securities reaffirmed an “outperform” rating on shares of Loxo Oncology in a research report on Tuesday, August 8th. Stifel Nicolaus upped their price objective on Loxo Oncology from $52.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, June 5th. Finally, Citigroup Inc. raised Loxo Oncology from a “neutral” rating to a “buy” rating and set a $86.00 price objective for the company in a research report on Monday, June 5th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Loxo Oncology has a consensus rating of “Buy” and a consensus price target of $70.73.
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In related news, Director Lori Anne Kunkel sold 10,000 shares of Loxo Oncology stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $75.17, for a total value of $751,700.00. Following the completion of the transaction, the director now directly owns 16,840 shares in the company, valued at $1,265,862.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jennifer Burstein sold 1,700 shares of Loxo Oncology stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $73.73, for a total value of $125,341.00. Following the completion of the transaction, the vice president now owns 1,700 shares of the company’s stock, valued at $125,341. The disclosure for this sale can be found here. Insiders sold 46,073 shares of company stock valued at $3,397,662 over the last quarter. Insiders own 27.80% of the company’s stock.
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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