Oppenheimer Maintains Their Buy Rating on Loxo Oncology


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 closed yesterday at $181.06.

Cann observed:

“We cover Loxo Oncology, a clinical-stage biotechnology company, with an Outperform rating and are increasing our price target to account for an increased average forward price-to-sales multiple of the biotechnology sector.”

According to TipRanks.com, Cann is a 5-star analyst with an average return of 26.9% and a 59.8% success rate. Cann covers the Healthcare sector, focusing on stocks such as Miragen Therapeutics Inc, CytomX Therapeutics Inc, and Crispr Therapeutics AG.

Loxo Oncology has an analyst consensus of Strong Buy, with a price target consensus of $216.29.

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The company has a one-year high of $208.95 and a one-year low of $69. Currently, Loxo Oncology has an average volume of 552.2K.

Based on the recent corporate insider activity of 64 insiders, corporate insider sentiment is negative on the stock. Last month, 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.

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