Shares of Ignyta, Inc. (NASDAQ:RXDX) have earned a consensus recommendation of “Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $19.50.
RXDX has been the topic of a number of recent research reports. Zacks Investment Research cut shares of Ignyta from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Ignyta in a research note on Wednesday, September 6th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Ignyta in a research note on Thursday, June 22nd. BidaskClub cut shares of Ignyta from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, J P Morgan Chase & Co reaffirmed a “buy” rating and issued a $20.00 price objective (up from $18.00) on shares of Ignyta in a research note on Thursday, October 12th.
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Ignyta (RXDX) traded up 7.09% during midday trading on Thursday, reaching $14.35. The company’s stock had a trading volume of 1,446,001 shares. The stock’s market capitalization is $807.23 million. The firm has a 50-day moving average price of $12.04 and a 200 day moving average price of $9.52. Ignyta has a 52-week low of $4.15 and a 52-week high of $14.75.
Ignyta (NASDAQ:RXDX) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.07. Equities research analysts predict that Ignyta will post ($2.57) EPS for the current fiscal year.
Hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. boosted its stake in Ignyta by 29.7% in the second quarter. Victory Capital Management Inc. now owns 3,638,632 shares of the biopharmaceutical company’s stock valued at $37,660,000 after acquiring an additional 833,798 shares during the last quarter. Pier Capital LLC bought a new position in Ignyta in the second quarter valued at approximately $5,823,000. Citadel Advisors LLC boosted its stake in Ignyta by 108.3% in the second quarter. Citadel Advisors LLC now owns 76,585 shares of the biopharmaceutical company’s stock valued at $793,000 after acquiring an additional 39,819 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Ignyta by 1.4% during the first quarter. JPMorgan Chase & Co. now owns 935,542 shares of the biopharmaceutical company’s stock worth $8,046,000 after purchasing an additional 12,904 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Ignyta by 10.4% during the first quarter. Vanguard Group Inc. now owns 1,228,177 shares of the biopharmaceutical company’s stock worth $10,562,000 after purchasing an additional 115,212 shares in the last quarter. 80.82% of the stock is currently owned by hedge funds and other institutional investors.
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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