Shares of Ignyta, Inc. (NASDAQ:RXDX) have been assigned an average rating of “Buy” from the six research firms that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $19.50.
RXDX has been the topic of a number of research analyst reports. Cantor Fitzgerald reiterated a “buy” rating and issued a $15.00 price target on shares of Ignyta in a report on Wednesday, September 27th. Zacks Investment Research upgraded shares of Ignyta from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. Jefferies Group LLC reiterated a “buy” rating and issued a $27.00 price target on shares of Ignyta in a report on Thursday, June 22nd. ValuEngine upgraded shares of Ignyta from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Finally, BidaskClub lowered shares of Ignyta from a “buy” rating to a “hold” rating in a report on Friday, July 28th.
Ignyta (NASDAQ RXDX) traded down 2.14% on Thursday, reaching $13.75. The company had a trading volume of 382,137 shares. The stock’s market capitalization is $773.48 million. Ignyta has a 52-week low of $4.15 and a 52-week high of $14.70. The stock has a 50 day moving average price of $11.70 and a 200 day moving average price of $9.44.
Ignyta (NASDAQ:RXDX) last announced its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.63) by $0.07. Analysts expect that Ignyta will post ($2.57) EPS for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Cutter & CO Brokerage Inc. acquired a new position in shares of Ignyta in the 2nd quarter valued at $122,000. Numeric Investors LLC purchased a new position in shares of Ignyta in the 2nd quarter valued at $126,000. Legal & General Group Plc raised its stake in shares of Ignyta by 71.9% in the 2nd quarter. Legal & General Group Plc now owns 12,681 shares of the biopharmaceutical company’s stock valued at $131,000 after acquiring an additional 5,306 shares during the period. Virtu KCG Holdings LLC purchased a new position in shares of Ignyta in the 2nd quarter valued at $132,000. Finally, Goldman Sachs Group Inc. purchased a new position in shares of Ignyta in the 1st quarter valued at $133,000. Institutional investors own 80.82% of the company’s stock.
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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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