Loxo Oncology Receives a Buy from William Blair

William Blair analyst Raju Prasad maintained a Buy rating on Loxo Oncology (NASDAQ: LOXO) today. The company’s shares closed yesterday at $139.50, close to its 52-week high of $143.62.

According to TipRanks.com, Prasad is a 4-star analyst with an average return of 24.1% and a 66.7% success rate. Prasad covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Audentes Therapeutics, and Spark Therapeutics.

Currently, the analyst consensus on Loxo Oncology is Strong Buy and the average price target is $149.33, representing a 7.0% upside.

In a report issued on May 8, Cowen & Co. also maintained a Buy rating on the stock.

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Based on Loxo Oncology’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $3.56 million. In comparison, last year the company had a GAAP net loss of $24.53 million.

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Loxo Oncology, Inc. is a biopharmaceutical company, which develops small molecule therapeutics for the treatment of cancer. Its pipeline focuses on cancers that are uniquely dependent on single gene abnormalities, such that a single drug has the potential to treat the cancer with dramatic effect.