Loxo Oncology (NASDAQ:LOXO) posted its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.89) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.65) by ($0.24), Briefing.com reports. The firm had revenue of $42.47 million for the quarter, compared to the consensus estimate of $38.55 million. During the same period last year, the business posted ($2.45) EPS.

Shares of LOXO traded down $7.06 during midday trading on Friday, hitting $166.77. The stock had a trading volume of 281,936 shares, compared to its average volume of 319,382. Loxo Oncology has a fifty-two week low of $71.45 and a fifty-two week high of $208.95. The stock has a market cap of $5.37 billion, a price-to-earnings ratio of -31.41 and a beta of 2.26.

In other news, CEO Joshua H. Bilenker sold 20,000 shares of the stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $159.41, for a total value of $3,188,200.00. Following the completion of the sale, the chief executive officer now directly owns 145,407 shares of the company’s stock, valued at $23,179,329.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jennifer Burstein sold 2,500 shares of the stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $159.24, for a total transaction of $398,100.00. Following the completion of the sale, the vice president now directly owns 1,250 shares of the company’s stock, valued at $199,050. The disclosure for this sale can be found here. Over the last quarter, insiders sold 102,500 shares of company stock valued at $16,798,550. Corporate insiders own 17.10% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fortaleza Asset Management Inc. purchased a new stake in shares of Loxo Oncology in the second quarter worth approximately $110,000. First Mercantile Trust Co. purchased a new stake in shares of Loxo Oncology in the second quarter worth approximately $122,000. Douglass Winthrop Advisors LLC purchased a new stake in shares of Loxo Oncology in the second quarter worth approximately $204,000. Zeke Capital Advisors LLC purchased a new stake in shares of Loxo Oncology in the second quarter worth approximately $208,000. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of Loxo Oncology in the second quarter worth approximately $209,000. 97.77% of the stock is owned by institutional investors and hedge funds.

Several research analysts have commented on LOXO shares. Cowen reiterated a “buy” rating on shares of Loxo Oncology in a report on Sunday, October 7th. Piper Jaffray Companies set a $200.00 target price on shares of Loxo Oncology and gave the stock a “buy” rating in a report on Wednesday, September 26th. Stifel Nicolaus decreased their target price on shares of Loxo Oncology from $225.00 to $217.00 and set a “buy” rating for the company in a report on Friday, August 10th. Zacks Investment Research upgraded shares of Loxo Oncology from a “hold” rating to a “buy” rating and set a $189.00 target price for the company in a report on Saturday, August 4th. Finally, BidaskClub cut shares of Loxo Oncology from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Loxo Oncology currently has a consensus rating of “Buy” and a consensus price target of $188.75.

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Loxo Oncology Company Profile

Loxo Oncology, Inc, a biopharmaceutical company, develops and sells medicines for patients with genetically defined cancers in the United States. Its lead product candidate comprises larotrectinib, an oral selective inhibitor of tropomyosin receptor kinase (TRK), which is in adult Phase 1 trial, a pediatric Phase 1/2 trial, and an adult/adolescent Phase 2 trial for the treatment of patients with tumor types, such as lung, head and neck, melanoma, colorectal, sarcoma, and breast cancer.

Further Reading: Institutional Investors

Earnings History for Loxo Oncology (NASDAQ:LOXO)

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