Shares of Ignyta Inc (NASDAQ:RXDX) have been given a consensus rating of “Hold” by the eight brokerages that are covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and one has issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $25.25.
RXDX has been the subject of a number of research reports. Cantor Fitzgerald set a $23.00 price target on Ignyta and gave the company a “buy” rating in a research note on Friday, December 22nd. SunTrust Banks initiated coverage on Ignyta in a research note on Monday, November 20th. They set a “buy” rating for the company. Zacks Investment Research raised Ignyta from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Tuesday, November 14th. 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. Finally, ValuEngine raised Ignyta from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd.
Several large investors have recently bought and sold shares of RXDX. Eagle Asset Management Inc. bought a new stake in shares of Ignyta in the 4th quarter valued at approximately $60,248,000. Gardner Lewis Asset Management L P bought a new stake in shares of Ignyta in the 4th quarter valued at approximately $49,431,000. Alliancebernstein L.P. lifted its stake in shares of Ignyta by 1,414.3% in the 4th quarter. Alliancebernstein L.P. now owns 1,746,002 shares of the biopharmaceutical company’s stock valued at $46,618,000 after purchasing an additional 1,630,702 shares during the last quarter. Carillon Tower Advisers Inc. bought a new stake in shares of Ignyta in the 4th quarter valued at approximately $41,780,000. Finally, Alpine Associates Management Inc. bought a new stake in shares of Ignyta in the 4th quarter valued at approximately $41,028,000. 72.28% of the stock is owned by institutional investors and hedge funds.
Shares of Ignyta (NASDAQ:RXDX) remained flat at $$26.95 during trading on Wednesday. 254,655 shares of the company were exchanged, compared to its average volume of 3,043,335. Ignyta has a 52-week low of $5.80 and a 52-week high of $27.10. The company has a market capitalization of $1,790.00, a P/E ratio of -9.94 and a beta of 184.87. The company has a quick ratio of 6.07, a current ratio of 6.07 and a debt-to-equity ratio of 0.34.
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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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