Shares of Loxo Oncology, Inc. (NASDAQ:LOXO) have earned an average recommendation of “Buy” from the nine analysts that are covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $79.20.

LOXO has been the topic of several recent research reports. Zacks Investment Research upgraded Loxo Oncology from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Wednesday, May 3rd. Citigroup Inc. upgraded Loxo Oncology from a “neutral” rating to a “buy” rating and set a $86.00 price target on the stock in a report on Monday, June 5th. Stifel Nicolaus increased their price target on Loxo Oncology from $52.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, June 5th. Cowen and Company reiterated an “outperform” rating on shares of Loxo Oncology in a report on Monday, June 5th. Finally, BTIG Research reiterated a “buy” rating and issued a $75.00 price target on shares of Loxo Oncology in a report on Tuesday, June 6th.

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Shares of Loxo Oncology (NASDAQ LOXO) traded up 1.13% during mid-day trading on Friday, reaching $73.26. The company had a trading volume of 217,440 shares. Loxo Oncology has a 52-week low of $17.14 and a 52-week high of $83.12. The firm’s 50-day moving average price is $75.16 and its 200 day moving average price is $54.80. The company’s market cap is $2.19 billion.

Loxo Oncology (NASDAQ:LOXO) last released its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($1.14) EPS for the quarter, missing the consensus estimate of ($0.99) by $0.15. During the same period last year, the business earned ($0.77) earnings per share. Equities analysts expect that Loxo Oncology will post ($4.34) EPS for the current year.

In related news, Director Keith T. Flaherty sold 7,250 shares of Loxo Oncology stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $45.09, for a total transaction of $326,902.50. Following the sale, the director now directly owns 27,141 shares in the company, valued at $1,223,787.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 44.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of the company. Legal & General Group Plc raised its stake in shares of Loxo Oncology by 8.4% in the first quarter. Legal & General Group Plc now owns 3,682 shares of the biopharmaceutical company’s stock worth $154,000 after buying an additional 284 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Loxo Oncology by 4,388.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,244 shares of the biopharmaceutical company’s stock worth $180,000 after buying an additional 2,194 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Loxo Oncology during the second quarter worth approximately $228,000. Marshall Wace LLP acquired a new stake in shares of Loxo Oncology during the second quarter worth approximately $233,000. Finally, Jasper Ridge Partners L.P. acquired a new stake in shares of Loxo Oncology during the second quarter worth approximately $277,000.

Loxo Oncology Company Profile

Loxo Oncology, Inc is a biopharmaceutical company. The Company is focused on development of medicines for patients with genetically defined cancers. The Company’s pipeline focuses on cancers that are dependent on single gene abnormalities, such that a single drug has the potential to treat the cancer with dramatic effect.

Analyst Recommendations for Loxo Oncology (NASDAQ:LOXO)

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