Loxo Oncology Inc. (NASDAQ:LOXO) dropped 3.6% during mid-day trading on Thursday . The company traded as low as $24.77 and last traded at $25.62, with a volume of 59,149 shares. The stock had previously closed at $26.57.

LOXO has been the subject of a number of research reports. Zacks Investment Research lowered shares of Loxo Oncology from a “hold” rating to a “sell” rating in a report on Friday, March 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $36.00 target price on shares of Loxo Oncology in a report on Monday, April 18th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $30.00 price objective on shares of Loxo Oncology in a report on Tuesday, April 19th. Finally, Cowen and Company reissued a “buy” rating on shares of Loxo Oncology in a report on Wednesday. Five research analysts have rated the stock with a buy rating, Loxo Oncology currently has a consensus rating of “Buy” and an average price target of $29.60.

The stock’s market capitalization is $508.47 million. The stock’s 50 day moving average price is $24.82 and its 200 day moving average price is $23.22.

Loxo Oncology (NASDAQ:LOXO) last released its earnings results on Wednesday, May 4th. The biopharmaceutical company reported ($0.59) EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.10. On average, equities research analysts expect that Loxo Oncology Inc. will post ($2.28) EPS for the current fiscal year.

In other Loxo Oncology news, major shareholder Aisling Capital Iii Lp bought 232,558 shares of Loxo Oncology stock in a transaction on Tuesday, May 17th. The stock was bought at an average price of $21.50 per share, with a total value of $4,999,997.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Other large investors have added to or reduced their stakes in the company. Aisling Capital LLC increased its stake 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 worth $108,006,000 after buying an additional 343,869 shares during the period. GSA Capital Partners LLP acquired a new stake in Loxo Oncology during the fourth quarter worth approximately $1,055,000. Finally, AWM Investment Company Inc. increased its stake 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 worth $2,987,000 after buying an additional 30,000 shares during the period.

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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