Ignyta Inc (NASDAQ:RXDX) has been given a consensus rating of “Hold” by the eight analysts that are presently covering the firm, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $24.25.
A number of analysts have recently issued reports on RXDX shares. SunTrust Banks cut Ignyta from a “buy” rating to a “hold” rating and boosted their target price for the stock from $25.00 to $27.00 in a report on Tuesday, December 26th. Zacks Investment Research upgraded Ignyta from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a report on Tuesday, November 14th. Cantor Fitzgerald reiterated a “buy” rating and set a $15.00 target price on shares of Ignyta in a report on Wednesday, September 27th. Ladenburg Thalmann Financial Services boosted their target price on Ignyta from $20.25 to $31.00 in a report on Wednesday, October 18th. Finally, Jefferies Group cut Ignyta from a “buy” rating to a “hold” rating and set a $27.00 target price for the company. in a report on Friday, December 22nd.
Ignyta (NASDAQ:RXDX) traded up $0.10 on Friday, reaching $26.95. The company’s stock had a trading volume of 5,140,000 shares, compared to its average volume of 4,060,000. The company has a quick ratio of 6.07, a current ratio of 6.07 and a debt-to-equity ratio of 0.34. The stock has a market cap of $1,790.00, a PE ratio of -9.94 and a beta of 206.07. Ignyta has a 52 week low of $4.60 and a 52 week high of $27.10.
Ignyta (NASDAQ:RXDX) last posted its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.51) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.03. equities research analysts predict that Ignyta will post -2.27 EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in RXDX. RA Capital Management LLC lifted its position in Ignyta by 291.8% during the 2nd quarter. RA Capital Management LLC now owns 4,016,990 shares of the biopharmaceutical company’s stock worth $41,576,000 after acquiring an additional 2,991,699 shares in the last quarter. Frazier Management LLC lifted its position in Ignyta by 123.2% during the 2nd quarter. Frazier Management LLC now owns 2,173,593 shares of the biopharmaceutical company’s stock worth $22,497,000 after acquiring an additional 1,199,900 shares in the last quarter. Farallon Capital Management LLC acquired a new position in Ignyta during the 2nd quarter worth approximately $11,939,000. Wells Fargo & Company MN lifted its position in Ignyta by 4,314.7% during the 3rd quarter. Wells Fargo & Company MN now owns 988,227 shares of the biopharmaceutical company’s stock worth $12,206,000 after acquiring an additional 965,842 shares in the last quarter. Finally, Tang Capital Management LLC lifted its position in Ignyta by 19.9% during the 2nd quarter. Tang Capital Management LLC now owns 4,763,602 shares of the biopharmaceutical company’s stock worth $49,303,000 after acquiring an additional 790,802 shares in the last quarter. 71.51% of the stock is currently owned by hedge funds and other institutional investors.
Ignyta Company Profile
Ignyta, Inc is a biotechnology company. The Company is focused on precision medicine in oncology. The Company is pursuing an integrated therapeutic (Rx) and companion diagnostic (Dx) strategy for treating cancer patients. The Company’s pipeline includes various compounds, such as entrectinib, RXDX-105, taladegib and RXDX-106.
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