Ignyta, Inc. (RXDX) Receives $19.25 Consensus Target Price from Analysts

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.

COPYRIGHT VIOLATION NOTICE: This piece of content was posted by sleekmoney and is the sole property of of sleekmoney. If you are viewing this piece of content on another website, it was copied illegally and reposted in violation of U.S. and international trademark & copyright law. The correct version of this piece of content can be accessed at https://sleekmoney.com/ignyta-inc-rxdx-receives-19-25-consensus-target-price-from-analysts/1941429.html.

About Ignyta

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.

This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/ignyta-inc-rxdx-receives-19-25-consensus-target-price-from-analysts/1941429.html

Receive News & Ratings for Ignyta Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ignyta Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *