Ignyta, Inc. (NASDAQ:RXDX) has been assigned an average rating of “Hold” from the six brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $20.67.
A number of research firms have recently commented on RXDX. BidaskClub downgraded Ignyta from a “buy” rating to a “hold” rating in a report on Friday. Zacks Investment Research downgraded Ignyta from a “buy” rating to a “hold” rating in a report on Saturday, April 1st. Cantor Fitzgerald set a $15.00 price objective on Ignyta and gave the company a “buy” rating in a report on Monday, July 10th. ValuEngine upgraded Ignyta from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. Finally, Jefferies Group LLC restated a “buy” rating and set a $27.00 price target on shares of Ignyta in a research note on Thursday, June 22nd.
Shares of Ignyta (NASDAQ:RXDX) traded up 3.24% on Wednesday, reaching $9.55. 491,950 shares of the company’s stock were exchanged. The stock’s market cap is $399.53 million. The company’s 50 day moving average is $9.71 and its 200-day moving average is $8.08. Ignyta has a one year low of $4.15 and a one year high of $11.45.
Ignyta (NASDAQ:RXDX) last released its quarterly earnings data on Monday, May 1st. The biopharmaceutical company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.69) by $0.27. On average, analysts anticipate that Ignyta will post ($2.71) EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Trexquant Investment LP bought a new stake in shares of Ignyta during the first quarter worth about $219,000. Renaissance Technologies LLC increased its stake in shares of Ignyta by 2.4% in the fourth quarter. Renaissance Technologies LLC now owns 92,100 shares of the biopharmaceutical company’s stock worth $488,000 after buying an additional 2,200 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Ignyta by 1.4% in the first quarter. JPMorgan Chase & Co. now owns 935,542 shares of the biopharmaceutical company’s stock worth $8,046,000 after buying an additional 12,904 shares in the last quarter. State Street Corp increased its stake in Ignyta by 7.8% in the fourth quarter. State Street Corp now owns 426,861 shares of the biopharmaceutical company’s stock valued at $2,264,000 after buying an additional 30,833 shares during the period. Finally, Victory Capital Management Inc. increased its stake in Ignyta by 16.2% in the first quarter. Victory Capital Management Inc. now owns 2,804,834 shares of the biopharmaceutical company’s stock valued at $24,122,000 after buying an additional 390,741 shares during the period. Institutional investors own 47.92% of the company’s stock.
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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