Loxo Oncology (LOXO) Rating Increased to Hold at BidaskClub

Loxo Oncology (NASDAQ:LOXO) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

A number of other equities research analysts have also recently issued reports on the stock. JMP Securities cut shares of Loxo Oncology from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $83.12 to $17.14 in a research report on Tuesday, August 29th. They noted that the move was a valuation call. Morgan Stanley reiterated an “overweight” rating and set a $103.00 target price (up previously from $95.00) on shares of Loxo Oncology in a research report on Friday, October 6th. William Blair initiated coverage on shares of Loxo Oncology in a research report on Tuesday, November 28th. They set an “outperform” rating for the company. Zacks Investment Research cut shares of Loxo Oncology from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Finally, Citigroup lowered their price objective on shares of Loxo Oncology from $112.00 to $108.00 and set a “buy” rating for the company in a research report on Thursday, November 16th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $90.57.

Shares of Loxo Oncology (LOXO) traded up $3.54 during trading on Friday, hitting $87.00. 793,453 shares of the company were exchanged, compared to its average volume of 377,947. The firm has a market cap of $2,500.00, a PE ratio of -14.97 and a beta of 2.54. Loxo Oncology has a 1-year low of $30.51 and a 1-year high of $95.92.

In other Loxo Oncology news, major shareholder Aisling Capital Iii Lp sold 500,000 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $75.00, for a total value of $37,500,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joshua H. Bilenker sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $86.49, for a total transaction of $648,675.00. Following the completion of the sale, the chief executive officer now owns 196,207 shares of the company’s stock, valued at approximately $16,969,943.43. The disclosure for this sale can be found here. Insiders sold a total of 1,614,555 shares of company stock valued at $124,567,942 in the last 90 days. Corporate insiders own 44.40% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC boosted its stake in shares of Loxo Oncology by 12.1% in the 2nd quarter. FMR LLC now owns 4,394,827 shares of the biopharmaceutical company’s stock valued at $352,420,000 after purchasing an additional 472,814 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Loxo Oncology by 20.6% in the 2nd quarter. BlackRock Inc. now owns 1,602,885 shares of the biopharmaceutical company’s stock valued at $128,534,000 after purchasing an additional 273,291 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Loxo Oncology by 50.2% in the 2nd quarter. Alliancebernstein L.P. now owns 936,790 shares of the biopharmaceutical company’s stock valued at $75,121,000 after purchasing an additional 312,988 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Loxo Oncology by 24.7% in the 2nd quarter. Vanguard Group Inc. now owns 914,719 shares of the biopharmaceutical company’s stock valued at $73,351,000 after purchasing an additional 181,471 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in shares of Loxo Oncology by 372.0% in the 2nd quarter. Lord Abbett & CO. LLC now owns 739,540 shares of the biopharmaceutical company’s stock valued at $59,304,000 after purchasing an additional 582,862 shares during the last quarter. 99.98% of the stock is currently owned by institutional investors.

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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.

Analyst Recommendations for Loxo Oncology (NASDAQ:LOXO)

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