Ignyta Inc. (NASDAQ:RXDX) Given Consensus Rating of “Buy” by Brokerages
Ignyta Inc. (NASDAQ:RXDX) has earned an average rating of “Buy” from the seven brokerages that are presently covering the stock. One analyst has rated the stock with a sell rating and six have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $18.25.
Several analysts have recently commented on RXDX shares. Jefferies Group reaffirmed a “buy” rating and set a $20.00 price target on shares of Ignyta in a research report on Monday, June 6th. Credit Suisse Group AG reissued a “buy” rating on shares of Ignyta in a research report on Tuesday, July 12th. Zacks Investment Research lowered Ignyta from a “hold” rating to a “sell” rating in a research report on Saturday, August 13th. JPMorgan Chase & Co. initiated coverage on Ignyta in a research report on Thursday, June 23rd. They issued an “overweight” rating and a $15.00 target price on the stock. Finally, Cantor Fitzgerald reissued a “buy” rating and issued a $18.00 target price on shares of Ignyta in a research report on Friday, June 17th.
Shares of Ignyta (NASDAQ:RXDX) traded down 3.59% during mid-day trading on Wednesday, hitting $6.18. The stock had a trading volume of 65,640 shares. The firm’s market cap is $257.40 million. Ignyta has a 12 month low of $4.63 and a 12 month high of $15.20. The stock’s 50-day moving average is $5.89 and its 200 day moving average is $6.22.
Ignyta (NASDAQ:RXDX) last released its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.70) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.65) by $0.05. Equities research analysts predict that Ignyta will post ($2.83) earnings per share for the current fiscal year.
In other Ignyta news, Director James A. Bristol purchased 5,000 shares of the company’s stock in a transaction on Monday, August 15th. The stock was acquired at an average price of $5.65 per share, for a total transaction of $28,250.00. Following the completion of the purchase, the director now directly owns 21,667 shares in the company, valued at approximately $122,418.55. The purchase was disclosed in a filing with the SEC, which is available through this link. 15.10% of the stock is currently owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Alliancebernstein L.P. increased its position in Ignyta by 48.2% in the second quarter. Alliancebernstein L.P. now owns 20,300 shares of the biopharmaceutical company’s stock valued at $110,000 after buying an additional 6,600 shares during the period. Rhumbline Advisers increased its position in Ignyta by 11.6% in the second quarter. Rhumbline Advisers now owns 27,635 shares of the biopharmaceutical company’s stock valued at $150,000 after buying an additional 2,875 shares during the period. Nationwide Fund Advisors increased its position in Ignyta by 18.4% in the second quarter. Nationwide Fund Advisors now owns 32,394 shares of the biopharmaceutical company’s stock valued at $176,000 after buying an additional 5,044 shares during the period. UBS Oconnor LLC acquired a new position in Ignyta during the second quarter valued at approximately $185,000. Finally, Teachers Advisors Inc. increased its position in Ignyta by 48.6% in the second quarter. Teachers Advisors Inc. now owns 49,287 shares of the biopharmaceutical company’s stock valued at $267,000 after buying an additional 16,123 shares during the period. Institutional investors and hedge funds own 62.39% of the company’s stock.
Ignyta Company Profile
Ignyta, Inc is an oncology biotechnology company. The Company focuses on an integrated therapeutic (Rx) and companion diagnostic (Dx) strategy for treating cancer patients. Its Rx is focused on discovering, in licensing or acquiring, then developing and commercializing molecularly targeted therapies that, sequentially or in combination, are foundational for eradicating residual disease.
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