Jefferies Group Lowers Ignyta (NASDAQ:RXDX) to Hold

Ignyta (NASDAQ:RXDX) was downgraded by analysts at Jefferies Group from a “buy” rating to a “hold” rating in a report released on Friday, December 22nd, MarketBeat Ratings reports. They presently have a $27.00 price objective on the biopharmaceutical company’s stock. Jefferies Group’s target price suggests a potential upside of 0.19% from the stock’s previous close.

Several other research firms also recently issued reports on RXDX. Ladenburg Thalmann Financial Services upped their price objective on shares of Ignyta from $20.25 to $31.00 in a research note on Wednesday, October 18th. Cantor Fitzgerald set a $23.00 price objective on shares of Ignyta and gave the company a “buy” rating in a research note on Tuesday, November 14th. Zacks Investment Research upgraded shares of Ignyta from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Tuesday, November 14th. SunTrust Banks began coverage on shares of Ignyta in a research note on Monday, November 20th. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. restated a “buy” rating and issued a $20.00 price objective (up previously from $18.00) on shares of Ignyta in a research note on Thursday, October 12th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $26.33.

Shares of Ignyta (RXDX) traded down $0.05 during mid-day trading on Friday, hitting $26.95. 1,200,000 shares of the company were exchanged, compared to its average volume of 3,680,000. The company has a current ratio of 6.07, a quick ratio of 6.07 and a debt-to-equity ratio of 0.34. Ignyta has a 12-month low of $4.60 and a 12-month high of $27.10. The firm has a market capitalization of $1,790.00, a P/E ratio of -9.94 and a beta of 206.07.

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

Large investors have recently made changes to their positions in the company. Cutter & CO Brokerage Inc. purchased a new stake in shares of Ignyta in the second quarter valued at about $122,000. Numeric Investors LLC purchased a new stake in shares of Ignyta in the second quarter valued at about $126,000. Legal & General Group Plc raised its holdings in shares of Ignyta by 71.9% in the second quarter. Legal & General Group Plc now owns 12,681 shares of the biopharmaceutical company’s stock valued at $131,000 after buying an additional 5,306 shares during the last quarter. Virtu KCG Holdings LLC purchased a new stake in shares of Ignyta in the second quarter valued at about $132,000. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of Ignyta in the first quarter valued at about $133,000. 71.51% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Ignyta (NASDAQ:RXDX)

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