|Bid||233.01 x 800|
|Ask||233.50 x 800|
|Day's Range||233.25 - 233.56|
|52 Week Range||85.21 - 233.90|
|Beta (3Y Monthly)||2.46|
|PE Ratio (TTM)||N/A|
|Earnings Date||Feb 27, 2019 - Mar 4, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||221.44|
Pharma giant Eli Lilly put together its winning bid for Loxo Oncology in just 10 days ahead of the J.P. Morgan Healthcare Conference, according to documents filed Thursday with the SEC.
# Loxo Oncology Inc ### NASDAQ NMS:LOXO View full report here! ## Summary * Bearish sentiment is low and declining ## Bearish sentiment Short interest | Positive Short interest is extremely low for LOXO with fewer than 1% of shares on loan. This could indicate that investors who seek to profit from falling equity prices are not currently targeting LOXO. ## Money flow ETF/Index ownership | Neutral ETF activity is neutral. The net inflows of $2.08 billion over the last one-month into ETFs that hold LOXO are not among the highest of the last year and have been slowing. ## Economic sentiment PMI by IHS Markit | Neutral According to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Healthcare sector is rising. The rate of growth is strong relative to the trend shown over the past year, but is easing. ## Credit worthiness Credit default swap CDS data is not available for this security. Please send all inquiries related to the report to email@example.com. Charts and report PDFs will only be available for 30 days after publishing. This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Incyte stock launched Tuesday after an analyst suggested its portfolio of cancer treatments could net the biotech stock an acquisition offer. Biotech deals have been rampant this month.
NEW YORK, Jan. 15, 2019 -- The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Loxo Oncology, Inc. (“Loxo.
Eli Lilly and Co. (LLY) CEO David Ricks thinks two recent biotechnology acquisitions by big pharma could open the floodgates for more deals in 2019. Speaking at the recent J.P. Morgan Healthcare Conference in San Francisco, Ricks said the stars are aligned for heightened merger and acquisition activity in the field. Lilly welcomed the new year by announcing it was buying Stamford, Connecticut-based Loxo Oncology (LOXO) in an $8 billion deal.
NEW YORK , Jan. 13, 2019 /PRNewswire/ -- Juan Monteverde , founder and managing partner at Monteverde & Associates PC , a national securities firm headquartered at the Empire State Building in New York ...
M&A momentum is building in the pharma space, with more deals announced last week, including Eli Lilly And Co (NYSE: LLY )'s $8-billion move to acquire Loxo Oncology Inc (NASDAQ: LOXO ). The following ...
The biopharma delivered the goods with its drug pipeline, scored marketing approval for its lead drug candidate, and agreed to be acquired for $8 billion.
Eli Lilly and Co remains in the hunt for cancer drugs even after announcing an $8 billion purchase of Loxo Oncology this week, but it plans to remain on the sidelines when it comes to two of the hottest areas of drug development. Lilly Chief Executive Dave Ricks told Reuters that as the company looks for deals to enhance its pipeline of future treatments it will leave CAR-T therapies for cancer and gene therapy for rare diseases to others, for now. "The data is amazing, but practically, it's not reaching many people," Ricks said of CAR-T therapy, which involves extracting disease-fighting T-cells from a patient, re-engineering them to better recognize and attack cancer, and reinfusing them into the body.
Two new deals to start the year and positive trial presentations at the J.P. Morgan Health Care conference have breathed new life into some of last year's biggest stock losers.
So far, 2019 is starting off with a bang in the pharmaceutical industry. Last week, we learned that Bristol-Myers Squibb (NYSE:BMY) is buying out beleaguered Celgene (NASDAQ:CELG) in a behemoth $74 billion takeover. Eli Lilly (NYSE:LLY) followed that up with a large deal of its own, announcing an $8 billion offer for Loxo Oncology (NASDAQ:LOXO). Whether the purchase helps Eli Lilly stock in the long term is another question altogether. While it may seem small compared to the blockbuster Celgene deal, $8 billion is still a major announcement. Don't forget Gilead Science's (NASDAQ:GILD) deal to buy the revolutionary Hep-C cure company Pharmasset for $11 billion in 2011. Within a couple years, GILD stock quintupled as the Pharmasset drugs lifted Gilead's profitability to the stratosphere. Needless to say, Loxo, if it delivers in similar fashion, could fundamentally reshape Eli Lilly's future for many years to come. That's especially as Eli Lilly has some patent expirations of its own to consider and really could use a big new product launch or two. InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 7 Stocks at Risk of the Global Smartphone Slowdown ### Loxo: A Steep Price Could Hamper Eli Lilly Stock It's no secret that biotech stocks got crushed in the 2018 correction. The SPDR Biotech ETF (NYSEARCA:XBI) dropped as much as 35% within three months. That meant that companies with strong balance sheets had the ability to go discount shopping. Bristol-Myers was first to take a big swing with the Celgene deal. However, Eli Lilly's move will also be a game-changer. Not only did Eli Lilly pay $8 billion for Loxo, they also paid a huge premium. LOXO stock previously traded as high as $188/share. Due to the biotech correction it was trading around $140 prior to Eli Lilly's offer. As such, you'd think something like $200/share (above Loxo's all-time high) would be enough to close the deal. Instead, Eli Lilly offered a whopping $235/share. Now, to be fair to Eli Lilly, Loxo did enjoy a positive development in that interim period; they managed to get FDA approval for their leading pipeline drug candidate. Though, that approval was widely expected. Regardless, Eli Lilly is paying heavily for a company that is just at the beginning of the commercialization process for their drug candidates. ### Loxo and Eli Lilly Stock Loxo has taken a different path from most companies in oncology. Instead of targeting its drugs for specific types of cancer, such as lung or prostate, Loxo targets genetic mutations. These genetic mutations appear to lead to cancers across a variety of different body parts. Loxo's first approved drug targets NTRK gene fusions. This is a rare condition which occurs in roughly 0.2% of the population. Loxo estimates that there are a few thousand eligible patients with NTRK fusions in the U.S. at this time. Thus, with a nearly $400,000/year price tag for the drug, it may take longer than expected for Loxo's product to become a huge commercial seller. The Chief Business Officer for Loxo, Jake Naarden, stated last year that: "We expect the initial launch to be challenging, though we remain optimistic about the longer-term trajectory. One of the truisms you often hear about new drug launches is that the first few quarters determine the commercial fate of the drug. Given the penetration of tumor genomic testing today, we do not believe that the first few quarters of this launch will inform very much." He makes an important point. Most oncology patients are not prescribed genomic testing today. Additionally, some genomic tests do not include the NTRK fusion. As a result, many potentially eligible patients may not know that Loxo has a beneficial therapy for their condition. This, however, highlights one big advantage to the Eli Lilly purchase. Eli Lilly has far more connections and influence within the medical community. It has the budget and reach to ensure that more cancer patients test their genomes and are aware of potential novel solutions. It's likely that Eli Lilly's purchase will bring Loxo's first drug far more attention and quicker clinical uptake. Loxo also brings its promising Loxo-292 therapy which is still in clinical trails. ### Eli Lilly Stock Takeaway One point in favor of the deal is that Eli Lilly has a strong balance sheet and can pay for Loxo with cash. Heading into the deal, Eli Lilly had $9 billion in cash against $13 billion in total debt. The Loxo purchase will consume almost all of the company's existing cash reserves, but still leave it in a reasonably sound fiscal position. After adjusting for one-time expenses, Eli Lilly will earn in the ballpark of $4.5 billion dollars for 2018. That means that it's net debt load is not especially problematic. On a debt/EBITDA basis, it comes in around 1.5x, which is quite conservative. From an earnings basis, the Loxo deal will consume just under two full years of Eli Lilly's ongoing net income. Given the limited size of Loxo's market, at least at first, Eli Lilly won't earn back its $8 billion purchase price in the near-term. But the potential is still great. Eli Lilly is buying a drug platform with a rather novel approach to treating cancer. If the company is able to commercialize other Loxo drugs that are earlier along in clinical trials, the deal could end up being a big win for Eli Lilly stock. At this point, Eli Lilly stock may be a bit overvalued. It's still trading at 20x forward earnings. That's quite aggressive for a pharma company, as patent expirations tend to keep PE ratios rather low. And Eli Lilly stock is up 35% over the past year which is a stark contrast to struggles elsewhere in the health care space. As for the Loxo deal in particular, it could pay off big, but for now, a wait and see approach seems most prudent. At the time of this writing, Ian Bezek owned GILD stock. You can reach him on Twitter at @irbezek. ### More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks You Can Set and Forget (Even In This Market) * 10 Virtual Assistants for the Future of Smart Homes * 7 5G Stocks to Buy as the Race for Spectrum Tightens Compare Brokers The post The Loxo Oncology Purchase Eventually Could Help Eli Lilly Stock appeared first on InvestorPlace.
# Loxo Oncology Inc ### NASDAQ NMS:LOXO View full report here! ## Summary * ETFs holding this stock are seeing positive inflows * Bearish sentiment is low and declining ## Bearish sentiment Short interest | Positive Short interest is low for LOXO with fewer than 5% of shares on loan. Additionally, this was an improvement in sentiment as investors who seek to profit from falling equity prices reduced their short positions on January 9. ## Money flow ETF/Index ownership | Positive ETF activity is positive. Over the last month, growth of ETFs holding LOXO is favorable, with net inflows of $5.55 billion. This is among the highest net inflows seen over the last one-year and the rate of additional inflows appears to be increasing. ## Economic sentiment PMI by IHS Markit | Neutral According to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Healthcare sector is rising. The rate of growth is strong relative to the trend shown over the past year, but is easing. ## Credit worthiness Credit default swap CDS data is not available for this security. Please send all inquiries related to the report to firstname.lastname@example.org. Charts and report PDFs will only be available for 30 days after publishing. This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
These companies arguably stole the show at J.P. Morgan's high-profile healthcare conference this year.
Once biotechs were scrappy insurgents, nipping vainly at the heels of established big pharma. Now the industry’s behemoths are turning to the sector in growing numbers as they seek to replenish their drug ...
Eli Lilly’s bid for Loxo Oncology, which follows a flurry of biotech deals, shows how the pharmaceutical landscape is fast-evolving as U.S. drug companies compete to become leaders in oncology. Indianapolis-based Eli Lilly on Monday announced plans to purchase the Stamford, Conn., start-up Loxo for $8 billion with the goal of expanding its oncology portfolio. Loxo has pioneered an experimental therapy targeting single-gene abnormalities that can cause tumors throughout the body.
NEW YORK, Jan. 09, 2019 -- The following statement is being issued by Levi & Korsinsky, LLP: Levi & Korsinsky, LLP announces that investigations have commenced on.
It was a busy week for the biotech sector with most companies gaining on M&A activity. The annual J.P. Morgan Healthcare conference were also a key area of focus.
What to Expect from Eli Lilly’s Acquisition of Loxo Oncology (Continued from Prior Part) ## Robust oncology pipeline Eli Lilly and Company’s (LLY) acquisition of Loxo Oncology has added the FDA approved asset VITRAKVI and the early- and mid-stage oncology pipeline assets LOXO-305, LOXO-195, and LOXO-292. According to Eli Lilly’s press release, the deal is expected to strengthen Eli Lilly’s position in the precision medicine market by adding selective medicines that target genomically defined cancers. ## ## LOXO-195 According to LLY’s presentation, Loxo Oncology and Bayer are currently codeveloping the Phase 1/2 asset and TRK (tyrosine kinase) inhibitor LOXO-195 for patients who have acquired a resistance and aren’t responding to other TRK inhibitors. The asset is currently being studied in a Phase 1/2 trial, which started in July 2017. Additionally, according to Eli Lilly’s M&A (mergers and acquisitions) conference call, LOXO-195 was granted an orphan drug designation by the FDA in October 2018. The company is expected to announce data from its Phase 1 trial in the first half of 2019. According to Eli Lilly’s investor presentation, a new drug application for LOXO-195 is expected to be submitted in 2021, while a regulatory decision is expected in 2022. ## LOXO-292 According to Eli Lilly’s investor presentation, investigational asset and selective oral RET inhibitor LOXO-292 has been granted a breakthrough therapy designation by the FDA in three indications: RET fusion-positive non-small cell lung cancer, RET mutant medullary thyroid cancer, and RET fusion-positive thyroid cancer. According to Eli Lilly’s M&A conference call, data from the ongoing registrational Phase 2 trial for LOXO-292 is expected in the second half of 2019, while a regulatory filing in the United States is expected in late 2019. According to the call, a regulatory decision and a commercial launch of LOXO-292 are expected in 2020. ## LOXO-305 According to Eli Lilly’s investor presentation, Loxo Oncology has started a Phase 1/2 trial to evaluate non-covalent Bruton’s tyrosine kinase inhibitor LOXO-305 in B-cell leukemia and lymphoma indications. Browse this series on Market Realist: * Part 1 - Eli Lilly Is Set to Acquire Loxo Oncology * Part 2 - What Are Analysts Recommending for Eli Lilly and Loxo Oncology? * Part 3 - Loxo Oncology Is Expected to Boost Eli Lilly’s Revenue in 2019
NEW YORK , Jan. 8, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Loxo Oncology, Inc. ("LOXO" ...
Eli Lilly and Company (LLY) expects its Loxo Oncology (LOXO) acquisition to become revenue accretive starting in 2019. Analysts expect Loxo to report revenue of $178.30 million in 2018, a YoY (year-over-year) rise of 737.08%. The company is also expected to report revenue of $197.96 million in 2019, a YoY rise of 11.03%.