Loxo Oncology Inc. (LOXO) Shares Up 7.7%
Loxo Oncology Inc. (NASDAQ:LOXO) shares shot up 7.7% on Wednesday . The company traded as high as $28.24 and last traded at $27.01, with a volume of 230,897 shares changing hands. The stock had previously closed at $25.07.
A number of brokerages have recently weighed in on LOXO. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $30.00 price target on shares of Loxo Oncology in a research report on Tuesday, April 19th. Stifel Nicolaus reiterated a “buy” rating and set a $36.00 price objective on shares of Loxo Oncology in a research report on Monday, April 18th. Cowen and Company reiterated a “buy” rating on shares of Loxo Oncology in a research report on Wednesday. Finally, Zacks Investment Research upgraded Loxo Oncology from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Saturday, July 9th. Five analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus price target of $29.60.
The company’s market cap is $500.39 million. The company has a 50-day moving average of $24.84 and a 200-day moving average of $23.24.
Loxo Oncology (NASDAQ:LOXO) last announced its earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.59) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.69) by $0.10. On average, equities research analysts predict that Loxo Oncology Inc. will post ($2.28) earnings per share for the current fiscal year.
In related news, major shareholder Aisling Capital Iii Lp bought 232,558 shares of the business’s stock in a transaction dated Tuesday, May 17th. The shares were bought at an average cost of $21.50 per share, with a total value of $4,999,997.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Several large investors recently made changes to their positions in the company. GSA Capital Partners LLP bought a new stake in shares of Loxo Oncology during the fourth quarter worth about $1,055,000. AWM Investment Company Inc. raised its position in 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, Aisling Capital LLC raised its position in 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.
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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