Loxo Oncology, Inc. (NASDAQ:LOXO) posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($1.14) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.99) by $0.15, Bloomberg Earnings reports. During the same quarter in the prior year, the business earned ($0.77) EPS.
Loxo Oncology (NASDAQ:LOXO) opened at 72.10 on Friday. The company has a 50-day moving average price of $74.05 and a 200-day moving average price of $56.04. The stock’s market cap is $2.15 billion. Loxo Oncology has a 52 week low of $17.14 and a 52 week high of $83.12.
In other Loxo Oncology news, CEO Joshua H. Bilenker sold 15,000 shares of Loxo Oncology stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $73.56, for a total transaction of $1,103,400.00. Following the transaction, the chief executive officer now directly owns 196,207 shares of the company’s stock, valued at approximately $14,432,986.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Keith T. Flaherty sold 7,250 shares of Loxo Oncology stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $45.09, for a total value of $326,902.50. Following the transaction, the director now directly owns 27,141 shares in the company, valued at $1,223,787.69. The disclosure for this sale can be found here. Insiders have sold a total of 36,073 shares of company stock worth $2,448,979 over the last ninety days. Company insiders own 44.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of LOXO. Ameritas Investment Partners Inc. raised its position 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 buying an additional 419 shares during the period. Legal & General Group Plc raised its position 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 buying an additional 284 shares during the period. BNP Paribas Arbitrage SA raised its position 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 buying an additional 2,194 shares during the period. SG Americas Securities LLC acquired a new position in Loxo Oncology during the second quarter valued at $228,000. Finally, Marshall Wace LLP acquired a new position in Loxo Oncology during the second quarter valued at $233,000.
Several analysts have issued reports on LOXO shares. Morgan Stanley reiterated an “overweight” rating and set a $91.00 target price on shares of Loxo Oncology in a research note on Monday, June 19th. Zacks Investment Research upgraded Loxo Oncology from a “sell” rating to a “hold” rating in a research note on Thursday, June 8th. Ifs Securities restated an “outperform” rating on shares of Loxo Oncology in a research note on Tuesday, August 8th. Stifel Nicolaus raised their price objective on Loxo Oncology from $52.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, June 5th. Finally, Citigroup Inc. upgraded Loxo Oncology from a “neutral” rating to a “buy” rating and set a $86.00 price objective on the stock in a research note on Monday, June 5th. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Loxo Oncology presently has an average rating of “Buy” and an average price target of $79.67.
Loxo Oncology Company Profile
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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