Loxo Oncology (LOXO) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Loxo Oncology (NASDAQ:LOXO) from a hold rating to a buy rating in a research note released on Friday morning. The brokerage currently has $148.00 price objective on the biopharmaceutical company’s stock.

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. “

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LOXO has been the topic of a number of other research reports. BidaskClub raised Loxo Oncology from a hold rating to a buy rating in a research report on Tuesday, January 23rd. Ifs Securities raised Loxo Oncology from an outperform rating to a strong-buy rating in a research report on Tuesday, November 14th. Citigroup reissued a buy rating and set a $151.00 price target (up previously from $108.00) on shares of Loxo Oncology in a research report on Monday, March 5th. JMP Securities raised Loxo Oncology from a market perform rating to an outperform rating and increased their price target for the stock from $77.18 to $95.00 in a research report on Tuesday, November 14th. Finally, Cann started coverage on Loxo Oncology in a research report on Wednesday, February 21st. They set an outperform rating and a $132.00 price target on the stock. Eleven equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $124.44.

Loxo Oncology (LOXO) opened at $128.98 on Friday. Loxo Oncology has a 12-month low of $40.33 and a 12-month high of $135.74.

Loxo Oncology (NASDAQ:LOXO) last posted its quarterly earnings results on Thursday, March 1st. The biopharmaceutical company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.53. The firm had revenue of $21.30 million for the quarter. sell-side analysts predict that Loxo Oncology will post 3.81 EPS for the current year.

In related news, major shareholder Aisling Capital Iii Lp sold 250,000 shares of the company’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $80.50, for a total transaction of $20,125,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jennifer Burstein sold 1,500 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $87.50, for a total value of $131,250.00. Following the sale, the vice president now owns 1,500 shares of the company’s stock, valued at $131,250. The disclosure for this sale can be found here. Insiders have sold a total of 334,146 shares of company stock valued at $27,668,728 over the last 90 days. 27.80% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Great West Life Assurance Co. Can lifted its stake in shares of Loxo Oncology by 195.8% during the 3rd quarter. Great West Life Assurance Co. Can now owns 2,958 shares of the biopharmaceutical company’s stock worth $275,000 after purchasing an additional 1,958 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Loxo Oncology by 38.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,597 shares of the biopharmaceutical company’s stock worth $1,251,000 after purchasing an additional 4,357 shares during the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Loxo Oncology during the 3rd quarter worth $847,000. Wells Fargo & Company MN lifted its stake in shares of Loxo Oncology by 12.0% during the 3rd quarter. Wells Fargo & Company MN now owns 18,028 shares of the biopharmaceutical company’s stock worth $1,661,000 after purchasing an additional 1,933 shares during the last quarter. Finally, Sivik Global Healthcare LLC lifted its stake in shares of Loxo Oncology by 22.0% during the 3rd quarter. Sivik Global Healthcare LLC now owns 25,000 shares of the biopharmaceutical company’s stock worth $2,303,000 after purchasing an additional 4,500 shares during the last quarter.

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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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