Ignyta, Inc. (NASDAQ:RXDX) has received an average rating of “Buy” from the six research firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $20.67.
Several equities analysts have recently issued reports on RXDX shares. Zacks Investment Research cut Ignyta from a “hold” rating to a “sell” rating in a research note on Wednesday, May 24th. Jefferies Group LLC restated a “buy” rating and set a $27.00 target price on shares of Ignyta in a research note on Thursday. ValuEngine upgraded Ignyta from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Finally, Cantor Fitzgerald set a $15.00 target price on Ignyta and gave the stock a “buy” rating in a research note on Sunday, June 4th.
A number of large investors have recently modified their holdings of RXDX. RA Capital Management LLC purchased a new stake in shares of Ignyta during the first quarter worth $8,818,000. Victory Capital Management Inc. boosted its stake in shares of Ignyta by 16.2% in the first quarter. Victory Capital Management Inc. now owns 2,804,834 shares of the biopharmaceutical company’s stock worth $24,122,000 after buying an additional 390,741 shares in the last quarter. Broadfin Capital LLC boosted its stake in shares of Ignyta by 16.9% in the first quarter. Broadfin Capital LLC now owns 2,637,346 shares of the biopharmaceutical company’s stock worth $22,681,000 after buying an additional 380,800 shares in the last quarter. Nexthera Capital LP purchased a new stake in shares of Ignyta during the first quarter worth $2,881,000. Finally, EAM Investors LLC purchased a new stake in shares of Ignyta during the first quarter worth $1,307,000. Institutional investors own 47.79% of the company’s stock.
Ignyta (RXDX) traded down 2.045% during mid-day trading on Friday, hitting $10.775. 879,884 shares of the company’s stock traded hands. The stock’s market cap is $450.78 million. Ignyta has a one year low of $4.15 and a one year high of $11.45. The firm’s 50-day moving average price is $7.49 and its 200-day moving average price is $7.30.
Ignyta (NASDAQ:RXDX) last announced its quarterly earnings data on Monday, May 1st. The biopharmaceutical company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.69) by $0.27. On average, analysts forecast that Ignyta will post ($2.77) EPS for the current fiscal year.
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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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