Shares of Ignyta, Inc. (NASDAQ:RXDX) have received an average recommendation of “Buy” from the seven ratings firms that are presently covering the stock. One equities research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $18.25.
RXDX has been the subject of several analyst reports. Zacks Investment Research raised Ignyta from a “hold” rating to a “buy” rating and set a $6.25 price objective for the company in a report on Friday, November 11th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Ignyta in a report on Wednesday, November 30th.
Ignyta (NASDAQ:RXDX) opened at 7.75 on Wednesday. Ignyta has a 12-month low of $4.15 and a 12-month high of $9.69. The company has a 50-day moving average price of $5.47 and a 200 day moving average price of $5.76. The company’s market cap is $322.80 million.
Several institutional investors have recently bought and sold shares of RXDX. Dimensional Fund Advisors LP boosted its position in Ignyta by 97.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 57,168 shares of the biopharmaceutical company’s stock worth $303,000 after buying an additional 28,162 shares during the period. State Street Corp boosted its position in Ignyta by 7.8% in the fourth quarter. State Street Corp now owns 426,861 shares of the biopharmaceutical company’s stock worth $2,264,000 after buying an additional 30,833 shares during the period. Endurant Capital Management LP boosted its position in Ignyta by 158.4% in the third quarter. Endurant Capital Management LP now owns 52,200 shares of the biopharmaceutical company’s stock worth $328,000 after buying an additional 32,000 shares during the period. Baker BROS. Advisors LP purchased a new position in shares of Ignyta during the third quarter worth about $3,592,000. Finally, Great Point Partners LLC purchased a new position in shares of Ignyta during the third quarter worth about $21,859,000. 61.87% of the stock is owned by institutional investors.
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Ignyta Company Profile
Ignyta, Inc is an oncology biotechnology company. The Company focuses on an integrated therapeutic (Rx) and companion diagnostic (Dx) strategy for treating cancer patients. Its Rx is focused on discovering, in licensing or acquiring, then developing and commercializing molecularly targeted therapies that, sequentially or in combination, are foundational for eradicating residual disease.
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