Oppenheimer analyst Leah R. Cann maintained a Buy rating on Loxo Oncology (NASDAQ: LOXO) yesterday and set a price target of $202. The company’s shares closed yesterday at $166.75.
Cann wrote:
“These updated data for LIBRETTO presented at the World Lung meeting remain very positive for LOXO-292 and support our outlook for Loxo Oncology. These data had a cut-off of and included 3.5 months of additional follow-up from the last reported results of LIBRETTO. The results presented today included 38 evaluable patients compared to 30 at the last data cut-off. Duration of response, with 92% of patients in response, was slightly better than 90% at the last cut-off. The ORR of 68% was lower than the 77% at last cut-off, but was not a comparable set of patients, and was very high for this subset.”
According to TipRanks.com, Cann is a 5-star analyst with an average return of 21.5% and a 53.9% success rate. Cann covers the Healthcare sector, focusing on stocks such as Constellation Pharmaceuticals Inc, Miragen Therapeutics Inc, and CytomX Therapeutics Inc.
Loxo Oncology has an analyst consensus of Strong Buy, with a price target consensus of $197.25, which is a 18.3% 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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The company has a one-year high of $208.95 and a one-year low of $71.45. Currently, Loxo Oncology has an average volume of 340.8K.
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.
