Zacks Investment Research Lowers Loxo Oncology, Inc. (LOXO) to Hold

Loxo Oncology, Inc. (NASDAQ:LOXO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday.

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. “

A number of other analysts have also weighed in on LOXO. Citigroup Inc. upgraded Loxo Oncology from a “neutral” rating to a “buy” rating and set a $86.00 target price for the company in a report on Monday, June 5th. Stifel Nicolaus upped their target price on Loxo Oncology from $52.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, June 5th. Cowen and Company restated an “outperform” rating on shares of Loxo Oncology in a report on Monday, June 5th. BTIG Research restated a “buy” rating and set a $75.00 target price on shares of Loxo Oncology in a report on Tuesday, June 6th. Finally, Morgan Stanley restated an “overweight” rating and set a $91.00 target price on shares of Loxo Oncology in a report on Monday, June 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $79.67.

Loxo Oncology (NASDAQ LOXO) opened at 73.26 on Friday. The company’s 50-day moving average price is $75.16 and its 200-day moving average price is $54.80. Loxo Oncology has a 52-week low of $17.14 and a 52-week high of $83.12. The company’s market cap is $2.19 billion.

Loxo Oncology (NASDAQ:LOXO) last posted its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.99) by $0.15. During the same period in the prior year, the firm posted ($0.77) earnings per share. Equities research analysts expect that Loxo Oncology will post ($4.34) EPS for the current fiscal year.

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In other news, Director Keith T. Flaherty sold 7,250 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $45.09, for a total transaction of $326,902.50. Following the transaction, the director now directly owns 27,141 shares of the company’s stock, valued at $1,223,787.69. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 44.40% of the company’s stock.

Institutional investors have recently modified their holdings of the company. FMR LLC increased its position in shares of Loxo Oncology by 12.1% in the second quarter. FMR LLC now owns 4,394,827 shares of the biopharmaceutical company’s stock worth $352,420,000 after buying an additional 472,814 shares during the last quarter. Aisling Capital LLC increased its position in shares of Loxo Oncology by 4.0% in the first quarter. Aisling Capital LLC now owns 4,188,920 shares of the biopharmaceutical company’s stock worth $176,270,000 after buying an additional 160,000 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Loxo Oncology by 34.4% in the first quarter. Wellington Management Group LLP now owns 2,437,872 shares of the biopharmaceutical company’s stock worth $102,587,000 after buying an additional 623,730 shares during the last quarter. BlackRock Inc. increased its position in shares of Loxo Oncology by 20.6% in the second quarter. BlackRock Inc. now owns 1,602,885 shares of the biopharmaceutical company’s stock worth $128,534,000 after buying an additional 273,291 shares during the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Loxo Oncology by 50.2% in the second quarter. Alliancebernstein L.P. now owns 936,790 shares of the biopharmaceutical company’s stock worth $75,121,000 after buying an additional 312,988 shares during the last quarter.

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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