Loxo Oncology (LOXO) Receiving Somewhat Positive News Coverage, Study Shows

News headlines about Loxo Oncology (NASDAQ:LOXO) have been trending somewhat positive on Wednesday, according to Accern Sentiment. Accern identifies positive and negative news coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Loxo Oncology earned a news impact score of 0.14 on Accern’s scale. Accern also gave media stories about the biopharmaceutical company an impact score of 46.0398408444722 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.

Here are some of the news articles that may have effected Accern’s rankings:

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Shares of LOXO stock opened at $121.95 on Wednesday. The firm has a market capitalization of $3,779.20, a PE ratio of -23.27 and a beta of 2.37. Loxo Oncology has a twelve month low of $40.52 and a twelve month high of $135.74.

Loxo Oncology (NASDAQ:LOXO) last released its quarterly earnings results on Thursday, March 1st. The biopharmaceutical company reported ($0.69) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.22) by $0.53. The firm had revenue of $21.30 million for the quarter. equities analysts forecast that Loxo Oncology will post 3.81 EPS for the current fiscal year.

A number of research firms have issued reports on LOXO. Zacks Investment Research upgraded Loxo Oncology from a “hold” rating to a “buy” rating and set a $148.00 target price on the stock in a research report on Friday, March 9th. Citigroup reiterated a “buy” rating and issued a $151.00 target price (up previously from $108.00) on shares of Loxo Oncology in a research report on Monday, March 5th. CIBC began coverage on Loxo Oncology in a research report on Thursday, February 22nd. They issued an “outperform” rating and a $132.00 target price on the stock. BidaskClub upgraded Loxo Oncology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 24th. Finally, Cann reiterated a “buy” rating and issued a $122.00 target price on shares of Loxo Oncology in a research report on Thursday, March 1st. Eleven investment analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Loxo Oncology currently has an average rating of “Buy” and a consensus price target of $124.44.

In related news, insider Naarden Jacob Van sold 3,082 shares of Loxo Oncology stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $88.21, for a total value of $271,863.22. Following the transaction, the insider now directly owns 1,541 shares of the company’s stock, valued at $135,931.61. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jennifer Burstein sold 1,500 shares of Loxo Oncology stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $87.50, for a total value of $131,250.00. Following the completion of the transaction, the vice president now directly owns 1,500 shares in the company, valued at $131,250. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,146 shares of company stock worth $7,731,608. Company insiders own 27.80% of the company’s stock.

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About Loxo Oncology

Loxo Oncology, Inc is a biopharmaceutical company. The Company is focused on development of medicines for patients with genetically defined cancers. The Company’s pipeline focuses on cancers that are dependent on single gene abnormalities, such that a single drug has the potential to treat the cancer with dramatic effect.

Insider Buying and Selling by Quarter for Loxo Oncology (NASDAQ:LOXO)

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