Ifs Securities Upgrades Loxo Oncology, Inc. (LOXO) to Strong-Buy

Loxo Oncology, Inc. (NASDAQ:LOXO) was upgraded by analysts at Ifs Securities from an “outperform” rating to a “strong-buy” rating in a research report issued on Tuesday.

A number of other analysts have also recently issued reports on the company. Citigroup Inc. reissued a “buy” rating and set a $112.00 target price (up from $86.00) on shares of Loxo Oncology in a research note on Friday, October 20th. Morgan Stanley reissued an “overweight” rating and set a $103.00 target price (up from $95.00) on shares of Loxo Oncology in a research note on Friday, October 6th. BTIG Research reissued a “buy” rating and set a $102.00 target price (up from $75.00) on shares of Loxo Oncology in a research note on Friday, September 29th. Cowen and Company reissued a “buy” rating on shares of Loxo Oncology in a research note on Thursday, September 28th. Finally, JMP Securities cut Loxo Oncology from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $83.12 to $17.14 in a research note on Tuesday, August 29th. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Loxo Oncology currently has a consensus rating of “Buy” and a consensus target price of $90.57.

Loxo Oncology (NASDAQ:LOXO) traded down $3.80 during midday trading on Tuesday, reaching $76.04. The company had a trading volume of 1,079,700 shares, compared to its average volume of 367,317. Loxo Oncology has a twelve month low of $25.25 and a twelve month high of $95.92.

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In other news, insider Naarden Jacob Van sold 1,541 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $89.20, for a total transaction of $137,457.20. Following the completion of the transaction, the insider now directly owns 1,541 shares of the company’s stock, valued at approximately $137,457.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Keith T. Flaherty sold 7,250 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The stock was sold at an average price of $72.26, for a total transaction of $523,885.00. Following the transaction, the director now directly owns 20,432 shares of the company’s stock, valued at $1,476,416.32. The disclosure for this sale can be found here. Insiders have sold a total of 76,814 shares of company stock valued at $6,548,261 over the last ninety days. Company insiders own 44.40% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of LOXO. Lord Abbett & CO. LLC grew its stake in shares of Loxo Oncology by 372.0% during the 2nd quarter. Lord Abbett & CO. LLC now owns 739,540 shares of the biopharmaceutical company’s stock worth $59,304,000 after acquiring an additional 582,862 shares in the last quarter. FMR LLC grew its stake in shares of Loxo Oncology by 12.1% during the 2nd quarter. FMR LLC now owns 4,394,827 shares of the biopharmaceutical company’s stock worth $352,420,000 after acquiring an additional 472,814 shares in the last quarter. Marshall Wace North America L.P. bought a new position in shares of Loxo Oncology during the 2nd quarter worth approximately $33,347,000. State Street Corp grew its stake in shares of Loxo Oncology by 155.2% during the 1st quarter. State Street Corp now owns 547,017 shares of the biopharmaceutical company’s stock worth $23,019,000 after acquiring an additional 332,696 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Loxo Oncology by 50.2% during the 2nd quarter. Alliancebernstein L.P. now owns 936,790 shares of the biopharmaceutical company’s stock worth $75,121,000 after acquiring an additional 312,988 shares in the last quarter. 99.31% of the stock is owned by institutional investors.

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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