Loxo Oncology, Inc. LOXO was a big mover last session, as the company saw its shares rise nearly 6% on the day. The company revealed that the Food and Drug Administration has granted Breakthrough Therapy Designation to its selective inhibitor of tropomyosin receptor kinase, LOXO-101. The news led to far more shares changing hands than in a normal session resulting in solid volume. This continues the recent uptrend for the company since Jun 27, as the stock is now up nearly 14%.
The company has seen one positive revision in the past one month, while its Zacks Consensus Estimate moved higher over the same time frame, suggesting that more solid trading could be ahead for this stock. So make sure to keep an eye on this stock going forward to see if yesterday’s jump can turn into more strength down the road.
Loxo Oncology currently sports a Zacks Rank #1 (Strong Buy), while its Earnings ESP is negative.
LOXO ONCOLOGY Price
LOXO ONCOLOGY Price | LOXO ONCOLOGY Quote
Another favorably placed stock in the same industry is Achaogen, Inc. AKAO, sporting a Zacks Rank #1.
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