William Blair analyst Raju Prasad maintained a Buy rating on Loxo Oncology (LOXO) today. The company’s shares opened today at $173.73.
Prasad commented:
“We continue to view larotrectinib as having a best-in-class efficacy and tolerability profile ahead of its November 26 PDUFA date. Regarding our initial launch estimates, we conservatively estimate that approximately 107 patients will be on therapy after the first five quarters of commercialization (for additional details see our note, Larotrectinib ESMO Durability , and Launch).”
According to TipRanks.com, Prasad is a 3-star analyst with an average return of 3.6% and a 37.7% success rate. Prasad covers the Healthcare sector, focusing on stocks such as Rocket Pharmaceuticals Inc, Global Blood Therapeutics, and Audentes Therapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Loxo Oncology with a $201.30 average price target, which is a 15.9% upside from current levels. In a report issued on October 24, Citigroup also maintained a Buy rating on the stock with a $233 price target.
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Based on Loxo Oncology’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $11.73 million. In comparison, last year the company had a GAAP net loss of $73.32 million.
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Loxo Oncology, Inc. is a biopharmaceutical company, which engages in the development of small molecule therapeutics for the treatment of cancer. It focuses on genetic alterations, targeted therapies, and genetic testing. The company was founded by Joshua H. Bilenker in May 2013 and is headquartered in Stamford, CT.
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