Ignyta, Inc. (RXDX) Receives $23.80 Average PT from Analysts

Ignyta, Inc. (NASDAQ:RXDX) has earned an average rating of “Buy” from the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $23.80.

RXDX has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued a “buy” rating and set a $15.00 price objective on shares of Ignyta in a report on Wednesday, September 27th. J P Morgan Chase & Co reissued a “buy” rating and set a $20.00 price objective (up from $18.00) on shares of Ignyta in a report on Thursday, October 12th. SunTrust Banks initiated coverage on shares of Ignyta in a report on Monday, November 20th. They set a “buy” rating on the stock. Zacks Investment Research lowered shares of Ignyta from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Finally, Ladenburg Thalmann Financial Services boosted their price objective on shares of Ignyta from $20.25 to $31.00 in a report on Wednesday, October 18th.

A number of large investors have recently bought and sold shares of the business. AXA boosted its holdings in Ignyta by 42.0% in the third quarter. AXA now owns 446,298 shares of the biopharmaceutical company’s stock valued at $5,512,000 after purchasing an additional 132,111 shares during the last quarter. Crestline Management LP boosted its holdings in Ignyta by 44.3% in the third quarter. Crestline Management LP now owns 133,584 shares of the biopharmaceutical company’s stock valued at $1,650,000 after purchasing an additional 41,023 shares during the last quarter. Granite Point Capital Management L.P. purchased a new stake in Ignyta in the third quarter valued at $618,000. Allianz Asset Management GmbH purchased a new stake in Ignyta in the third quarter valued at $1,175,000. Finally, OxFORD Asset Management LLP purchased a new stake in Ignyta in the third quarter valued at $1,480,000. 72.88% of the stock is currently owned by institutional investors.

Shares of Ignyta (RXDX) traded down $0.90 on Friday, hitting $15.85. 936,735 shares of the stock were exchanged, compared to its average volume of 817,685. The company has a debt-to-equity ratio of 0.34, a quick ratio of 6.07 and a current ratio of 6.07. Ignyta has a 12-month low of $4.60 and a 12-month high of $18.30.

Ignyta (NASDAQ:RXDX) last announced its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.03. sell-side analysts anticipate that Ignyta will post -2.27 EPS for the current fiscal year.

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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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