Loxo Oncology, Inc. (LOXO) Upgraded at JMP Securities

Loxo Oncology, Inc. (NASDAQ:LOXO) was upgraded by investment analysts at JMP Securities from a “market perform” rating to an “outperform” rating in a report released on Tuesday. The brokerage currently has a $95.00 price target on the biopharmaceutical company’s stock, up from their previous price target of $77.18. JMP Securities’ price target would indicate a potential upside of 14.14% from the stock’s current price.

Other analysts have also issued research reports about the stock. Citigroup Inc. reiterated a “buy” rating and set a $112.00 target price (up previously from $86.00) on shares of Loxo Oncology in a research note on Friday, October 20th. Stifel Nicolaus restated a “buy” rating and set a $71.00 price target on shares of Loxo Oncology in a research report on Thursday, August 3rd. BTIG Research restated a “buy” rating and set a $75.00 price target on shares of Loxo Oncology in a research report on Thursday, August 3rd. Zacks Investment Research upgraded shares of Loxo Oncology from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a research report on Wednesday, August 9th. Finally, Cowen and Company restated a “buy” rating on shares of Loxo Oncology in a research report on Thursday, September 28th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $91.14.

Loxo Oncology (NASDAQ:LOXO) traded up $2.05 during mid-day trading on Tuesday, reaching $83.23. 209,400 shares of the company’s stock traded hands, compared to its average volume of 352,100. Loxo Oncology has a 12-month low of $25.25 and a 12-month high of $95.92.

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In related news, Director Keith T. Flaherty sold 7,250 shares of the stock in a transaction dated Monday, August 21st. The shares were sold at an average price of $72.26, for a total value of $523,885.00. Following the completion of the transaction, the director now owns 20,432 shares in the company, valued at approximately $1,476,416.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lori Anne Kunkel sold 5,000 shares of the stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $84.91, for a total transaction of $424,550.00. Following the completion of the transaction, the director now owns 15,040 shares of the company’s stock, valued at approximately $1,277,046.40. The disclosure for this sale can be found here. Insiders have sold 76,814 shares of company stock valued at $6,548,261 in the last 90 days. Insiders own 27.80% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE grew its position in Loxo Oncology by 162.6% in the 1st quarter. Bank of America Corp DE now owns 8,176 shares of the biopharmaceutical company’s stock valued at $344,000 after buying an additional 5,063 shares in the last quarter. Prudential Financial Inc. bought a new position in Loxo Oncology in the 2nd quarter valued at about $5,415,000. Federated Investors Inc. PA grew its position in Loxo Oncology by 21,561.6% in the 2nd quarter. Federated Investors Inc. PA now owns 37,258 shares of the biopharmaceutical company’s stock valued at $2,988,000 after buying an additional 37,086 shares in the last quarter. JPMorgan Chase & Co. grew its position in Loxo Oncology by 4.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 54,800 shares of the biopharmaceutical company’s stock valued at $4,395,000 after buying an additional 2,400 shares in the last quarter. Finally, Nicholas Investment Partners LP bought a new position in Loxo Oncology in the 2nd quarter valued at about $5,036,000. Hedge funds and other institutional investors own 99.31% of the company’s stock.

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.

Analyst Recommendations for Loxo Oncology (NASDAQ:LOXO)

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