Ignyta Inc (NASDAQ:RXDX) has received an average recommendation of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $25.25.
Several research firms recently weighed in on RXDX. Cantor Fitzgerald restated a “hold” rating and set a $27.00 price target on shares of Ignyta in a report on Friday, February 9th. ValuEngine upgraded shares of Ignyta from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research cut shares of Ignyta from a “buy” rating to a “hold” rating in a research note on Wednesday, January 17th. Jefferies Group cut shares of Ignyta from a “buy” rating to a “hold” rating and set a $27.00 target price on the stock. in a research note on Thursday, December 28th. Finally, SunTrust Banks cut shares of Ignyta from a “buy” rating to a “hold” rating and boosted their target price for the company from $25.00 to $27.00 in a research note on Tuesday, December 26th.
NASDAQ RXDX traded up $0.02 during mid-day trading on Thursday, reaching $26.98. 254,655 shares of the stock were exchanged, compared to its average volume of 3,043,335. Ignyta has a one year low of $5.80 and a one year high of $27.10. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.07 and a quick ratio of 6.07.
Several hedge funds have recently made changes to their positions in the stock. TD Asset Management Inc. increased its stake in Ignyta by 26.0% during the 3rd quarter. TD Asset Management Inc. now owns 16,600 shares of the biopharmaceutical company’s stock valued at $205,000 after purchasing an additional 3,425 shares in the last quarter. QS Investors LLC purchased a new position in shares of Ignyta in the fourth quarter worth approximately $117,000. IFP Advisors Inc boosted its holdings in shares of Ignyta by 62.4% in the fourth quarter. IFP Advisors Inc now owns 12,743 shares of the biopharmaceutical company’s stock worth $340,000 after buying an additional 4,898 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Ignyta by 16.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 43,112 shares of the biopharmaceutical company’s stock worth $1,151,000 after buying an additional 6,122 shares during the last quarter. Finally, American International Group Inc. boosted its holdings in shares of Ignyta by 18.4% in the fourth quarter. American International Group Inc. now owns 39,667 shares of the biopharmaceutical company’s stock worth $1,059,000 after buying an additional 6,163 shares during the last quarter. Institutional investors own 72.28% of the company’s stock.
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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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