Oppenheimer Equities Analysts Lower Earnings Estimates for Loxo Oncology (LOXO)

Loxo Oncology (NASDAQ:LOXO) – Equities research analysts at Oppenheimer dropped their FY2022 earnings estimates for Loxo Oncology in a research report issued on Tuesday, May 8th, Zacks Investment Research reports. Oppenheimer analyst L. Cann now anticipates that the biopharmaceutical company will post earnings per share of $24.35 for the year, down from their previous estimate of $24.41. Oppenheimer has a “Outperform” rating and a $132.00 price target on the stock.

Several other equities research analysts have also weighed in on the company. Citigroup increased their target price on Loxo Oncology to $178.00 and gave the stock a “buy” rating in a research report on Friday. JMP Securities set a $182.00 target price on Loxo Oncology and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus increased their target price on Loxo Oncology from $145.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday. BTIG Research reaffirmed a “buy” rating and issued a $156.00 target price on shares of Loxo Oncology in a research report on Thursday. Finally, Zacks Investment Research lowered Loxo Oncology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 8th. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and three have given a strong buy rating to the company. Loxo Oncology currently has an average rating of “Buy” and an average price target of $155.89.



Loxo Oncology traded down $1.08, hitting $166.45, during trading hours on Friday, according to MarketBeat. The company had a trading volume of 11,863 shares, compared to its average volume of 408,836. Loxo Oncology has a fifty-two week low of $138.92 and a fifty-two week high of $143.55. The firm has a market capitalization of $4.20 billion, a PE ratio of -31.55 and a beta of 2.32.

Loxo Oncology (NASDAQ:LOXO) last issued its earnings results on Tuesday, May 8th. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.01. During the same period last year, the business earned ($0.96) earnings per share.

In other news, insider Naarden Jacob Van sold 3,082 shares of the firm’s stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $137.42, for a total transaction of $423,528.44. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Jennifer Burstein sold 1,700 shares of Loxo Oncology stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $131.33, for a total value of $223,261.00. Following the transaction, the vice president now directly owns 1,700 shares in the company, valued at $223,261. The disclosure for this sale can be found here. Insiders have sold 62,646 shares of company stock worth $8,331,001 over the last three months. Corporate insiders own 44.40% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund grew its holdings in Loxo Oncology by 1.6% during the first quarter. New York State Common Retirement Fund now owns 24,700 shares of the biopharmaceutical company’s stock worth $2,850,000 after acquiring an additional 400 shares during the period. Teachers Advisors LLC grew its holdings in Loxo Oncology by 1.3% during the fourth quarter. Teachers Advisors LLC now owns 41,592 shares of the biopharmaceutical company’s stock worth $3,501,000 after acquiring an additional 541 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in Loxo Oncology by 26.8% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 2,917 shares of the biopharmaceutical company’s stock worth $246,000 after acquiring an additional 617 shares during the period. Swiss National Bank grew its holdings in Loxo Oncology by 2.0% during the first quarter. Swiss National Bank now owns 36,400 shares of the biopharmaceutical company’s stock worth $4,199,000 after acquiring an additional 700 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its holdings in Loxo Oncology by 7.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 11,859 shares of the biopharmaceutical company’s stock worth $1,368,000 after acquiring an additional 809 shares during the period.

Loxo Oncology Company Profile

Loxo Oncology, Inc, a biopharmaceutical company, develops and sells medicines for patients with genetically defined cancers in the United States. Its lead product candidate comprises larotrectinib, an oral selective inhibitor of tropomyosin receptor kinase (TRK), which is in adult Phase 1 trial, a pediatric Phase 1/2 trial, and an adult/adolescent Phase 2 trial for the treatment of patients with tumor types, such as lung, head and neck, melanoma, colorectal, sarcoma, and breast cancer.

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Earnings History and Estimates for Loxo Oncology (NASDAQ:LOXO)

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