Loxo Oncology (NASDAQ:LOXO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.

According to Zacks, “Loxo Oncology, Inc. is a biopharmaceutical company. It develops targeted small molecule therapeutics for the treatment of cancer in genetically defined patient populations. Loxo Oncology, Inc. is headquartered in Stamford, Connecticut. “

Other equities research analysts have also issued research reports about the stock. Cann reissued a “buy” rating and set a $202.00 price objective on shares of Loxo Oncology in a research note on Monday, September 17th. Ifs Securities raised shares of Loxo Oncology from a “market perform” rating to an “outperform” rating in a research note on Monday, October 8th. BidaskClub raised shares of Loxo Oncology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 7th. Stifel Nicolaus dropped their price objective on shares of Loxo Oncology from $225.00 to $217.00 and set a “buy” rating on the stock in a research note on Friday, August 10th. Finally, Goldman Sachs Group initiated coverage on shares of Loxo Oncology in a research note on Monday, September 17th. They set a “neutral” rating and a $165.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $188.92.

Shares of NASDAQ LOXO opened at $167.52 on Wednesday. Loxo Oncology has a 1 year low of $71.45 and a 1 year high of $208.95. The stock has a market cap of $5.13 billion, a P/E ratio of -31.55 and a beta of 2.25.

Loxo Oncology (NASDAQ:LOXO) last announced its quarterly earnings results on Thursday, August 9th. The biopharmaceutical company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.15. The company had revenue of $42.60 million for the quarter, compared to analysts’ expectations of $32.36 million. During the same quarter in the prior year, the firm earned ($0.94) EPS. As a group, research analysts forecast that Loxo Oncology will post -2.47 EPS for the current fiscal year.

In other news, VP Jennifer Burstein sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $159.24, for a total value of $398,100.00. Following the transaction, the vice president now owns 1,250 shares in the company, valued at $199,050. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Joshua H. Bilenker sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The stock was sold at an average price of $159.41, for a total transaction of $3,188,200.00. Following the completion of the transaction, the chief executive officer now owns 145,407 shares in the company, valued at approximately $23,179,329.87. The disclosure for this sale can be found here. Insiders have sold 102,500 shares of company stock worth $16,798,550 in the last three months. 17.10% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Fortaleza Asset Management Inc. bought a new position in shares of Loxo Oncology in the second quarter worth approximately $110,000. First Mercantile Trust Co. bought a new position in shares of Loxo Oncology in the second quarter worth approximately $122,000. Douglass Winthrop Advisors LLC bought a new position in shares of Loxo Oncology in the second quarter worth approximately $204,000. Zeke Capital Advisors LLC bought a new position in shares of Loxo Oncology in the second quarter worth approximately $208,000. Finally, Commonwealth Equity Services LLC bought a new position in shares of Loxo Oncology in the second quarter worth approximately $209,000. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Loxo Oncology Company Profile

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.

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Analyst Recommendations for Loxo Oncology (NASDAQ:LOXO)

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