In a report released today, Leah R. Cann from Oppenheimer maintained a Buy rating on Loxo Oncology (NASDAQ: LOXO), with a price target of $202. The company’s shares opened today at $162.08.
Cann commented:
“In Q2 2018, loss per share was $0.39 compared to our estimated loss of $1.44. The lower than estimated loss was the result of net collaboration revenue recognition of $42.6 million. This was partially offset by operating expenses being 26.4% higher than estimated. Interest income of $2.97 million was 35.2% higher than our estimate. Loxo made meaningful clinical progress in the quarter and we now expect several key data updates in H2 2018. We also recognize potential upside to our current long- term outlook.”
According to TipRanks.com, Cann is a 5-star analyst with an average return of 20.7% and a 54.9% success rate. Cann covers the Healthcare sector, focusing on stocks such as Miragen Therapeutics Inc, CytomX Therapeutics Inc, and Crispr Therapeutics AG.
Currently, the analyst consensus on Loxo Oncology is a Strong Buy with an average price target of $216.29, a 33.4% upside from current levels. In a report released today, William Blair also maintained a Buy rating on the stock.
.
See today’s analyst top recommended stocks >>
The company has a one-year high of $208.95 and a one-year low of $70.84. Currently, Loxo Oncology has an average volume of 553.1K.
Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is negative on the stock. Most recently, in June 2018, Timothy Mayleben, a Director at LOXO sold 10,000 shares for a total of $1,795,400.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
