Ignyta, Inc. (RXDX) Given Average Rating of “Buy” by Brokerages

Shares of Ignyta, Inc. (NASDAQ:RXDX) have been assigned a consensus rating of “Buy” from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $23.25.

A number of brokerages have commented on RXDX. Ladenburg Thalmann Financial Services boosted their target price on shares of Ignyta from $20.25 to $31.00 in a report on Wednesday, October 18th. Zacks Investment Research downgraded shares of Ignyta from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Cantor Fitzgerald set a $15.00 target price on shares of Ignyta and gave the stock a “buy” rating in a report on Tuesday, October 17th. J P Morgan Chase & Co reiterated a “buy” rating and issued a $20.00 target price (up from $18.00) on shares of Ignyta in a report on Thursday, October 12th. Finally, BidaskClub downgraded shares of Ignyta from a “buy” rating to a “hold” rating in a report on Friday, July 28th.

Ignyta (NASDAQ RXDX) opened at $15.73 on Monday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.31 and a current ratio of 7.30. Ignyta has a 52 week low of $4.15 and a 52 week high of $18.30.

Ignyta (NASDAQ:RXDX) last released its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.07. research analysts expect that Ignyta will post -2.51 earnings per share for the current fiscal year.

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Institutional investors have recently made changes to their positions in the business. Cutter & CO Brokerage Inc. bought a new position in Ignyta in the second quarter worth about $122,000. Numeric Investors LLC bought a new position in Ignyta in the second quarter worth about $126,000. Legal & General Group Plc grew its stake in shares of Ignyta by 71.9% during the second quarter. Legal & General Group Plc now owns 12,681 shares of the biopharmaceutical company’s stock worth $131,000 after acquiring an additional 5,306 shares during the last quarter. Virtu KCG Holdings LLC purchased a new stake in shares of Ignyta during the second quarter worth about $132,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Ignyta during the first quarter worth about $133,000. Institutional investors and hedge funds own 67.35% 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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