After Oppenheimer and Stifel Nicolaus gave Loxo Oncology (NASDAQ: LOXO) a Buy rating last month, the company received another Buy, this time from William Blair. Analyst Raju Prasad maintained a Buy rating on Loxo Oncology today. The company’s shares closed yesterday at $166.75.
According to TipRanks.com, Prasad is a 4-star analyst with an average return of 12.7% and a 55.3% 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 $197.80 average price target, implying a 18.6% upside from current levels. In a report issued on September 17, Stifel Nicolaus also reiterated a Buy rating on the stock with a $217 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 $30.4 million.
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock.
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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.
