Loxo Oncology, Inc. (LOXO) Upgraded by Ifs Securities to Strong-Buy
Loxo Oncology, Inc. (NASDAQ:LOXO) was upgraded by research analysts at Ifs Securities from an “outperform” rating to a “strong-buy” rating in a research note issued to investors on Tuesday.
Other research analysts have also recently issued reports about the company. BidaskClub cut Loxo Oncology from a “hold” rating to a “sell” rating in a report on Friday, August 4th. JMP Securities cut Loxo Oncology from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $83.12 to $17.14 in a report on Tuesday, August 29th. They noted that the move was a valuation call. Cowen and Company restated a “buy” rating on shares of Loxo Oncology in a report on Thursday, September 28th. BTIG Research restated a “buy” rating and set a $102.00 target price (up from $75.00) on shares of Loxo Oncology in a report on Friday, September 29th. Finally, Stifel Nicolaus restated a “buy” rating and set a $71.00 target price on shares of Loxo Oncology in a report on Thursday, August 3rd. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $80.02.
Loxo Oncology (NASDAQ:LOXO) traded up $2.05 during trading hours on Tuesday, reaching $83.23. The company’s stock had a trading volume of 209,400 shares, compared to its average volume of 352,100. Loxo Oncology has a 52 week low of $25.25 and a 52 week high of $95.92.
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In related news, Director Keith T. Flaherty sold 7,250 shares of the company’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $72.26, for a total value of $523,885.00. Following the transaction, the director now directly owns 20,432 shares in the company, valued at $1,476,416.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Naarden Jacob Van sold 1,541 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $89.20, for a total value of $137,457.20. Following the completion of the transaction, the insider now owns 1,541 shares in the company, valued at $137,457.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,814 shares of company stock worth $6,548,261. Insiders own 27.80% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP acquired a new position in Loxo Oncology in the third quarter valued at approximately $122,000. Ameritas Investment Partners Inc. lifted its holdings in Loxo Oncology by 31.3% in the second quarter. Ameritas Investment Partners Inc. now owns 1,758 shares of the biopharmaceutical company’s stock valued at $141,000 after acquiring an additional 419 shares during the last quarter. Legal & General Group Plc lifted its holdings 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 valued at $154,000 after acquiring an additional 284 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in Loxo Oncology by 4,388.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,244 shares of the biopharmaceutical company’s stock valued at $180,000 after acquiring an additional 2,194 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in Loxo Oncology in the third quarter valued at approximately $212,000. Hedge funds and other institutional investors own 99.31% 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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