Zacks Investment Research cut shares of Loxo Oncology (NASDAQ:LOXO) from a hold rating to a sell rating in a research report report published on Tuesday morning.
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. “
Several other analysts also recently commented on LOXO. BidaskClub downgraded shares of Loxo Oncology from a strong-buy rating to a buy rating in a report on Thursday, June 28th. Cann restated an average rating and set a $202.00 target price (up from $122.00) on shares of Loxo Oncology in a report on Thursday, July 12th. Cowen restated a buy rating on shares of Loxo Oncology in a report on Thursday, August 9th. Stifel Nicolaus dropped their target price on shares of Loxo Oncology from $225.00 to $217.00 and set a buy rating on the stock in a report on Friday, August 10th. Finally, Goldman Sachs Group started coverage on shares of Loxo Oncology in a report on Monday, September 17th. They set a neutral rating and a $165.00 target price on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $188.75.
Loxo Oncology (NASDAQ:LOXO) last announced its earnings results on Thursday, August 9th. The biopharmaceutical company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.15. The company had revenue of $42.60 million for the quarter, compared to analyst estimates of $32.36 million. During the same quarter last year, the business posted ($0.94) earnings per share. Equities analysts anticipate that Loxo Oncology will post -2.47 earnings per share for the current fiscal year.
In other news, Director Lori Anne Kunkel sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $170.37, for a total transaction of $851,850.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $851,850. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jennifer Burstein sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $159.24, for a total transaction of $398,100.00. Following the transaction, the vice president now directly owns 1,250 shares of the company’s stock, valued at $199,050. The disclosure for this sale can be found here. Insiders have sold a total of 102,500 shares of company stock valued at $16,798,550 over the last ninety days. Company insiders own 17.10% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of LOXO. Russell Investments Group Ltd. grew its stake in shares of Loxo Oncology by 92.5% during the 1st quarter. Russell Investments Group Ltd. now owns 16,212 shares of the biopharmaceutical company’s stock worth $1,870,000 after acquiring an additional 7,788 shares in the last quarter. Sei Investments Co. grew its stake in shares of Loxo Oncology by 5,307.8% in the first quarter. Sei Investments Co. now owns 10,437 shares of the biopharmaceutical company’s stock valued at $1,205,000 after buying an additional 10,244 shares in the last quarter. UBS Group AG grew its stake in shares of Loxo Oncology by 120.4% in the first quarter. UBS Group AG now owns 28,026 shares of the biopharmaceutical company’s stock valued at $3,233,000 after buying an additional 15,308 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Loxo Oncology in the first quarter valued at $321,000. Finally, Millennium Management LLC grew its stake in shares of Loxo Oncology by 90.4% in the first quarter. Millennium Management LLC now owns 15,398 shares of the biopharmaceutical company’s stock valued at $1,776,000 after buying an additional 7,312 shares in the last quarter. 97.23% of the stock is owned by institutional investors.
Loxo Oncology Company Profile
Loxo Oncology, Inc, a biopharmaceutical company, develops and sells medicines for patients with genetically defined cancers in the United States. Its lead product candidate comprises larotrectinib, an oral selective inhibitor of tropomyosin receptor kinase (TRK), which is in adult Phase 1 trial, a pediatric Phase 1/2 trial, and an adult/adolescent Phase 2 trial for the treatment of patients with tumor types, such as lung, head and neck, melanoma, colorectal, sarcoma, and breast cancer.
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