William Blair analyst Raju Prasad maintained a Hold rating on Loxo Oncology (LOXO) today. The company’s shares closed yesterday at $234.66, close to its 52-week high of $234.93.
Prasad commented:
“We are dropping coverage of Loxo Oncology , Inc. following the completion of its acquisition by Company (LL Y $121.18). Our final rating on Loxo Oncology was Market Perform.”
According to TipRanks.com, Prasad is a 4-star analyst with an average return of 6.7% and a 49.3% success rate. Prasad covers the Healthcare sector, focusing on stocks such as Rocket Pharmaceuticals Inc, Global Blood Therapeutics, and Logicbio Therapeutics Inc.
Currently, the analyst consensus on Loxo Oncology is a Moderate Buy with an average price target of $228.33.
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Based on Loxo Oncology’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $27.06 million. In comparison, last year the company had a GAAP net loss of $20.63 million.
Based on the recent corporate insider activity of 48 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.
