Morgan Stanley upgraded shares of Loxo Oncology (NASDAQ:LOXO) from an equal weight rating to an overweight rating in a report released on Monday, Marketbeat reports. Morgan Stanley currently has $170.00 price target on the biopharmaceutical company’s stock, up from their prior price target of $130.00.

Other equities research analysts have also recently issued reports about the company. William Blair reaffirmed a buy rating on shares of Loxo Oncology in a research report on Monday. Zacks Investment Research raised Loxo Oncology from a hold rating to a buy rating and set a $148.00 price objective on the stock in a research report on Friday, March 9th. CIBC began coverage on Loxo Oncology in a research report on Thursday, February 22nd. They set an outperform rating and a $132.00 price objective on the stock. BidaskClub raised Loxo Oncology from a buy rating to a strong-buy rating in a research report on Saturday, February 24th. Finally, ValuEngine raised Loxo Oncology from a hold rating to a buy rating in a research report on Monday, April 2nd. Twelve analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of Buy and an average target price of $131.89.

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Loxo Oncology stock opened at $133.45 on Monday. Loxo Oncology has a one year low of $42.11 and a one year high of $136.52.

Loxo Oncology (NASDAQ:LOXO) last released its quarterly earnings data on Thursday, March 1st. The biopharmaceutical company reported ($0.69) EPS for the quarter, beating the consensus estimate of ($1.22) by $0.53. The business had revenue of $21.30 million for the quarter. analysts anticipate that Loxo Oncology will post 0.3 earnings per share for the current year.

In other Loxo Oncology news, insider Naarden Jacob Van sold 3,082 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $88.21, for a total value of $271,863.22. Following the transaction, the insider now directly owns 1,541 shares of the company’s stock, valued at $135,931.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Joshua H. Bilenker sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $88.21, for a total value of $1,323,150.00. Following the completion of the transaction, the chief executive officer now directly owns 190,207 shares in the company, valued at $16,778,159.47. The disclosure for this sale can be found here. Insiders sold 72,646 shares of company stock worth $7,600,358 over the last three months. Insiders own 27.80% of the company’s stock.

A number of large investors have recently made changes to their positions in LOXO. QS Investors LLC purchased a new position in Loxo Oncology in the fourth quarter worth about $118,000. Xact Kapitalforvaltning AB purchased a new position in Loxo Oncology in the fourth quarter worth about $208,000. Cambridge Investment Research Advisors Inc. boosted its position in Loxo Oncology by 26.8% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 2,917 shares of the biopharmaceutical company’s stock worth $246,000 after purchasing an additional 617 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in Loxo Oncology by 195.8% in the third quarter. Great West Life Assurance Co. Can now owns 2,958 shares of the biopharmaceutical company’s stock worth $275,000 after purchasing an additional 1,958 shares during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Loxo Oncology during the 4th quarter valued at about $323,000.

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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.

Analyst Recommendations for Loxo Oncology (NASDAQ:LOXO)

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