Shares of Ignyta Inc (NASDAQ:RXDX) have been assigned an average rating of “Hold” from the eight analysts that are currently covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $25.25.
Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald reiterated a “hold” rating and issued a $27.00 price objective on shares of Ignyta in a research note on Friday, February 9th. ValuEngine upgraded Ignyta from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research lowered Ignyta from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. Jefferies Group lowered Ignyta from a “buy” rating to a “hold” rating and set a $27.00 price target on the stock. in a research report on Thursday, December 28th. Finally, SunTrust Banks lowered Ignyta from a “buy” rating to a “hold” rating and increased their price target for the stock from $25.00 to $27.00 in a research report on Tuesday, December 26th.
Ignyta (NASDAQ:RXDX) traded up $0.02 during mid-day trading on Friday, hitting $26.98. The stock had a trading volume of 254,655 shares, 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 cap of $1,790.00, a price-to-earnings ratio of -9.96 and a beta of 184.87. The company has a debt-to-equity ratio of 0.34, a quick ratio of 6.07 and a current ratio of 6.07.
Institutional investors and hedge funds have recently made changes to their positions in the business. QS Investors LLC bought a new position in Ignyta in the 4th quarter valued at $117,000. Trexquant Investment LP bought a new position in Ignyta in the 3rd quarter valued at $152,000. LMR Partners LLP bought a new position in Ignyta in the 3rd quarter valued at $169,000. TD Asset Management Inc. boosted its position in Ignyta by 26.0% in the 3rd quarter. TD Asset Management Inc. now owns 16,600 shares of the biopharmaceutical company’s stock valued at $205,000 after buying an additional 3,425 shares during the last quarter. Finally, Amalgamated Bank bought a new position in Ignyta in the 4th quarter valued at $213,000. Hedge funds and other institutional investors own 72.28% 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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