Zacks Investment Research downgraded shares of Ignyta (NASDAQ:RXDX) from a buy rating to a hold rating in a report released on Wednesday.
According to Zacks, “Ignyta, Inc. is a biotechnology company. It develops precision medicine with integrated Rx/Dx solutions for cancer patients. The company focuses on the development of RXDX-101, its proprietary oral tyrosine kinase inhibitor that targets solid tumor indications, and advancing its novel Spark discovery programs that leverage its proprietary cancer genomic and epigenomic knowledge bases. Ignyta, Inc. is based in San Diego, California. “
Several other equities research analysts have also commented on the company. Cantor Fitzgerald set a $23.00 price objective on Ignyta and gave the stock a buy rating in a research note on Thursday, December 28th. Jefferies Group lowered Ignyta from a buy rating to a hold rating and set a $27.00 price objective for the company. in a research note on Thursday, December 28th. SunTrust Banks lowered Ignyta from a buy rating to a hold rating and upped their price objective for the stock from $25.00 to $27.00 in a research note on Tuesday, December 26th. Ladenburg Thalmann Financial Services lowered Ignyta from a buy rating to a neutral rating in a research note on Tuesday, December 26th. Finally, JPMorgan Chase & Co. restated 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. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $26.33.
Ignyta (RXDX) traded down $0.07 during trading hours on Wednesday, hitting $26.85. The stock had a trading volume of 6,175,618 shares, compared to its average volume of 4,279,217. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.07 and a quick ratio of 6.07. The stock has a market cap of $1,790.00, a price-to-earnings ratio of -9.91 and a beta of 206.07. Ignyta has a 52-week low of $4.60 and a 52-week high of $27.10.
Ignyta (NASDAQ:RXDX) last posted its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.03. research analysts anticipate that Ignyta will post -2.27 earnings per share for the current year.
A number of hedge funds have recently modified their holdings of RXDX. Numeric Investors LLC purchased a new stake in Ignyta in the 2nd quarter worth $126,000. Legal & General Group Plc increased its stake in Ignyta by 71.9% in the 2nd quarter. Legal & General Group Plc now owns 12,681 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 5,306 shares in the last quarter. Virtu KCG Holdings LLC purchased a new stake in Ignyta in the 2nd quarter worth $132,000. Trexquant Investment LP purchased a new stake in Ignyta in the 3rd quarter worth $152,000. Finally, LMR Partners LLP purchased a new stake in Ignyta in the 3rd quarter worth $169,000. Institutional investors and hedge funds own 71.51% of the company’s stock.
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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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