Loxo Oncology (LOXO) Rating Lowered to Buy at BidaskClub

BidaskClub lowered shares of Loxo Oncology (NASDAQ:LOXO) from a strong-buy rating to a buy rating in a report published on Monday, February 4th.

LOXO has been the topic of a number of other research reports. William Blair downgraded Loxo Oncology from an outperform rating to a market perform rating in a research note on Thursday, January 17th. Leerink Swann downgraded Loxo Oncology from an outperform rating to a market perform rating in a research note on Monday, January 7th. Ifs Securities downgraded Loxo Oncology from an outperform rating to a market perform rating in a research note on Monday, January 7th. Citigroup downgraded Loxo Oncology from a buy rating to a neutral rating in a research note on Tuesday, January 8th. Finally, Oppenheimer started coverage on Loxo Oncology in a research note on Friday, December 21st. They issued a buy rating and a $185.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $198.58.

NASDAQ LOXO opened at $234.66 on Monday. Loxo Oncology has a one year low of $101.70 and a one year high of $234.93. The company has a market cap of $7.18 billion, a P/E ratio of -44.19 and a beta of 2.51.

In other news, CEO Joshua H. Bilenker sold 20,000 shares of Loxo Oncology stock in a transaction that occurred on Tuesday, December 11th. The shares were sold at an average price of $135.47, for a total value of $2,709,400.00. Following the completion of the sale, the chief executive officer now directly owns 174,407 shares in the company, valued at $23,626,916.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Avi Z. Naider purchased 725 shares of the company’s stock in a transaction dated Thursday, December 13th. The stock was acquired at an average price of $138.92 per share, with a total value of $100,717.00. Following the completion of the transaction, the director now owns 126,843 shares of the company’s stock, valued at approximately $17,621,029.56. The disclosure for this purchase can be found here. Insiders sold a total of 31,500 shares of company stock valued at $4,267,775 in the last 90 days. 17.10% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Exane Derivatives bought a new position in Loxo Oncology in the fourth quarter valued at approximately $43,000. Dorsey Wright & Associates increased its stake in Loxo Oncology by 20.0% in the fourth quarter. Dorsey Wright & Associates now owns 312 shares of the biopharmaceutical company’s stock valued at $44,000 after acquiring an additional 52 shares during the last quarter. Meeder Asset Management Inc. increased its stake in Loxo Oncology by 177.0% in the fourth quarter. Meeder Asset Management Inc. now owns 338 shares of the biopharmaceutical company’s stock valued at $48,000 after acquiring an additional 216 shares during the last quarter. Cornerstone Advisors Inc. increased its stake in Loxo Oncology by 46.0% in the fourth quarter. Cornerstone Advisors Inc. now owns 387 shares of the biopharmaceutical company’s stock valued at $54,000 after acquiring an additional 122 shares during the last quarter. Finally, Advisor Group Inc. increased its stake in Loxo Oncology by 78.4% in the fourth quarter. Advisor Group Inc. now owns 505 shares of the biopharmaceutical company’s stock valued at $71,000 after acquiring an additional 222 shares during the last quarter. Institutional investors own 96.49% of the company’s stock.

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.

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Analyst Recommendations for Loxo Oncology (NASDAQ:LOXO)

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