In a report released today, Raju Prasad from William Blair downgraded Loxo Oncology (LOXO) to Hold. The company’s shares opened today at $233.31, close to its 52-week high of $233.90.
According to TipRanks.com, Prasad is a 4-star analyst with an average return of 5.8% and a 50.8% success rate. Prasad covers the Healthcare sector, focusing on stocks such as Rocket Pharmaceuticals Inc, Global Blood Therapeutics, and Logicbio Therapeutics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Loxo Oncology with a $228.75 average price target, representing a -2.0% downside. In a report issued on January 7, Raymond James also downgraded the stock to Hold.
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The company has a one-year high of $233.90 and a one-year low of $85.21. Currently, Loxo Oncology has an average volume of 867.5K.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LOXO in relation to earlier this year.
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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.
