Loxo Oncology (LOXO) Downgraded by Zacks Investment Research

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Zacks Investment Research lowered shares of Loxo Oncology (NASDAQ:LOXO) from a buy rating to a hold rating in a research report released on Thursday 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 research firms have also recently issued reports on LOXO. BidaskClub upgraded shares of Loxo Oncology from a buy rating to a strong-buy rating in a research report on Saturday, July 7th. Citigroup lifted their price objective on shares of Loxo Oncology to $178.00 and gave the company a buy rating in a research report on Friday, May 18th. Stifel Nicolaus cut their target price on shares of Loxo Oncology from $225.00 to $217.00 and set a buy rating for the company in a report on Friday, August 10th. Morgan Stanley raised their target price on shares of Loxo Oncology from $170.00 to $200.00 and gave the company an overweight rating in a report on Monday, June 4th. Finally, JMP Securities raised their target price on shares of Loxo Oncology from $182.00 to $221.00 and gave the company a buy rating in a report on Monday, June 4th. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. Loxo Oncology has an average rating of Buy and a consensus target price of $188.40.

Loxo Oncology stock opened at $158.34 on Thursday. The company has a market cap of $4.85 billion, a PE ratio of -29.82 and a beta of 2.32. Loxo Oncology has a 1 year low of $70.83 and a 1 year high of $208.95.

Loxo Oncology (NASDAQ:LOXO) last released its quarterly earnings data on Thursday, August 9th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.15. The company had revenue of $42.60 million for the quarter, compared to the consensus estimate of $32.36 million. During the same quarter in the previous year, the business earned ($0.94) EPS. sell-side analysts expect that Loxo Oncology will post 0.91 EPS for the current year.

In related news, major shareholder Aisling Capital Iii Lp sold 1,400,000 shares of the firm’s stock in a transaction on Tuesday, July 10th. The shares were sold at an average price of $179.43, for a total value of $251,202,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jennifer Burstein sold 1,500 shares of the firm’s stock in a transaction on Monday, July 9th. The shares were sold at an average price of $187.25, for a total transaction of $280,875.00. Following the completion of the transaction, the vice president now directly owns 1,500 shares of the company’s stock, valued at $280,875. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,563,096 shares of company stock valued at $279,862,163. 17.10% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of LOXO. Quantbot Technologies LP boosted its stake in Loxo Oncology by 770.1% during the first quarter. Quantbot Technologies LP now owns 931 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 824 shares during the period. Fortaleza Asset Management Inc. purchased a new position in Loxo Oncology during the second quarter worth $110,000. IFP Advisors Inc boosted its stake in Loxo Oncology by 509.6% during the first quarter. IFP Advisors Inc now owns 1,012 shares of the biopharmaceutical company’s stock worth $117,000 after buying an additional 846 shares during the period. First Mercantile Trust Co. purchased a new position in Loxo Oncology during the second quarter worth $122,000. Finally, Douglass Winthrop Advisors LLC purchased a new position in Loxo Oncology during the second quarter worth $204,000.

About Loxo Oncology

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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