Loxo Oncology Inc. (NASDAQ:LOXO) shares shot up 3.7% during mid-day trading on Wednesday . The stock traded as high as $24.21 and last traded at $24.00, with a volume of 71,126 shares traded. The stock had previously closed at $23.14.

Several analysts have weighed in on the stock. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $30.00 price target on shares of Loxo Oncology in a research note on Tuesday, April 19th. Zacks Investment Research raised shares of Loxo Oncology from a “sell” rating to a “hold” rating in a research note on Thursday, May 5th. Stifel Nicolaus lowered their price target on shares of Loxo Oncology from $37.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, March 16th. Finally, Citigroup Inc. boosted their price target on shares of Loxo Oncology from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, March 16th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Loxo Oncology has a consensus rating of “Buy” and an average target price of $30.00.

The firm’s market capitalization is $472.99 million. The firm has a 50 day moving average of $25.03 and a 200-day moving average of $23.42.

Loxo Oncology (NASDAQ:LOXO) last announced its quarterly earnings data on Wednesday, May 4th. The biopharmaceutical company reported ($0.59) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.69) by $0.10. On average, analysts anticipate that Loxo Oncology Inc. will post ($2.32) EPS for the current fiscal year.

In other news, major shareholder Aisling Capital Iii Lp acquired 232,558 shares of the firm’s stock in a transaction dated Tuesday, May 17th. The shares were purchased at an average cost of $21.50 per share, for a total transaction of $4,999,997.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website.

Several hedge funds have recently made changes to their positions in the stock. Aisling Capital LLC increased its stake in shares of Loxo Oncology by 10.0% in the fourth quarter. Aisling Capital LLC now owns 3,796,362 shares of the biopharmaceutical company’s stock valued at $108,006,000 after buying an additional 343,869 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Loxo Oncology during the fourth quarter valued at approximately $1,055,000. AWM Investment Company Inc. increased its stake in shares of Loxo Oncology by 40.0% in the fourth quarter. AWM Investment Company Inc. now owns 105,000 shares of the biopharmaceutical company’s stock valued at $2,987,000 after buying an additional 30,000 shares during the last quarter. Finally, Casdin Capital LLC purchased a new stake in shares of Loxo Oncology during the fourth quarter valued at approximately $7,155,000.

Loxo Oncology, Inc is a United States-based biopharmaceutical company. The Company is engaged in developing selective medicines for patients with genetically defined cancers. Its pipeline focuses on cancers that are dependent on single gene abnormalities, such that a single drug has the potential to treat the cancer.

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