Piper Jaffray analyst Tyler Van Buren views the price of $235 per share paid by Eli Lilly (LLY) for Loxo Oncology (LOXO) as fair. The analyst says the price is near the $250-plus he previously thought was achievable in an acquisition scenario for Loxo. Other names in the precision medicine/oncology space that could be up today as a result of the buyout are Agios Pharmaceuticals (AGIO), ArQule (ARQL), Array BioPharma (ARRY), Blueprint Medicines (BPMC), Kura Oncology (KURA), Mirati Therapeutics (MRTX) and others, Van Buren tells investors in a research note. He raised his price target for Loxo Oncology to $235 from $200 and keeps an Overweight rating on the shares.
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