Cantor Fitzgerald Analysts Give Ignyta, Inc. (NASDAQ:RXDX) a $15.00 Price Target

Cantor Fitzgerald set a $15.00 price objective on Ignyta, Inc. (NASDAQ:RXDX) in a research note published on Tuesday, October 17th. The firm currently has a buy rating on the biopharmaceutical company’s stock.

“Entrectinib has received Priority Medicines (PRIME) designation from the European Medicines Agency (EMA), for NTRK fusion-positive solid tumors, primarily based on STARTRK-2 results.”,” Cantor Fitzgerald’s analyst wrote.

RXDX has been the subject of several other research reports. Zacks Investment Research lowered shares of Ignyta from a hold rating to a sell rating in a report on Tuesday, July 4th. JPMorgan Chase & Co. reaffirmed a buy rating and set a $20.00 price objective (up previously from $18.00) on shares of Ignyta in a report on Thursday, October 12th. BidaskClub lowered shares of Ignyta from a strong-buy rating to a buy rating in a report on Wednesday, July 19th. Finally, Jefferies Group LLC reaffirmed a buy rating and set a $27.00 price objective on shares of Ignyta in a report on Thursday, June 22nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $21.80.

Shares of Ignyta (NASDAQ:RXDX) traded up 0.4941% during mid-day trading on Tuesday, hitting $15.3756. The company had a trading volume of 396,706 shares. Ignyta has a 12 month low of $4.15 and a 12 month high of $18.30. The firm has a 50-day moving average price of $13.00 and a 200 day moving average price of $9.93. The firm’s market capitalization is $864.92 million.

Ignyta (NASDAQ:RXDX) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.63) by $0.07. On average, equities research analysts forecast that Ignyta will post ($2.57) earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tang Capital Management LLC boosted its position in shares of Ignyta by 19.9% during the second quarter. Tang Capital Management LLC now owns 4,763,602 shares of the biopharmaceutical company’s stock worth $49,303,000 after purchasing an additional 790,802 shares in the last quarter. RA Capital Management LLC boosted its position in shares of Ignyta by 291.8% during the second quarter. RA Capital Management LLC now owns 4,016,990 shares of the biopharmaceutical company’s stock worth $41,576,000 after purchasing an additional 2,991,699 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Ignyta by 29.7% during the second quarter. Victory Capital Management Inc. now owns 3,638,632 shares of the biopharmaceutical company’s stock worth $37,660,000 after purchasing an additional 833,798 shares in the last quarter. Broadfin Capital LLC boosted its position in shares of Ignyta by 11.5% during the second quarter. Broadfin Capital LLC now owns 2,941,247 shares of the biopharmaceutical company’s stock worth $30,442,000 after purchasing an additional 303,901 shares in the last quarter. Finally, Frazier Management LLC boosted its position in shares of Ignyta by 123.2% during the second quarter. Frazier Management LLC now owns 2,173,593 shares of the biopharmaceutical company’s stock worth $22,497,000 after purchasing an additional 1,199,900 shares in the last quarter. 80.82% of the stock is currently owned by 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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