Ignyta, Inc. (NASDAQ:RXDX) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a report released on Thursday.

A number of other analysts also recently issued reports on RXDX. Zacks Investment Research downgraded shares of Ignyta from a “buy” rating to a “hold” rating in a report on Saturday, April 1st. Cantor Fitzgerald set a $15.00 price target on shares of Ignyta and gave the company a “buy” rating in a report on Sunday, June 4th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $16.00.

Analyst Recommendations for Ignyta (NASDAQ:RXDX)

Ignyta (NASDAQ:RXDX) opened at 9.85 on Thursday. Ignyta has a 1-year low of $4.15 and a 1-year high of $10.10. The company’s market cap is $412.08 million. The company has a 50-day moving average price of $7.41 and a 200-day moving average price of $7.23.

Ignyta (NASDAQ:RXDX) last announced its quarterly earnings results on Monday, May 1st. The biopharmaceutical company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by $0.27. On average, analysts expect that Ignyta will post ($2.71) EPS for the current fiscal year.

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Several hedge funds have recently bought and sold shares of RXDX. Wells Fargo & Company MN increased its stake in Ignyta by 4.8% in the first quarter. Wells Fargo & Company MN now owns 21,885 shares of the biopharmaceutical company’s stock worth $188,000 after buying an additional 1,000 shares during the period. American International Group Inc. increased its stake in Ignyta by 7.1% in the first quarter. American International Group Inc. now owns 18,148 shares of the biopharmaceutical company’s stock worth $156,000 after buying an additional 1,197 shares during the period. TFS Capital LLC increased its stake in Ignyta by 5.5% in the first quarter. TFS Capital LLC now owns 32,486 shares of the biopharmaceutical company’s stock worth $279,000 after buying an additional 1,680 shares during the period. Renaissance Technologies LLC increased its stake in Ignyta by 2.4% in the fourth quarter. Renaissance Technologies LLC now owns 92,100 shares of the biopharmaceutical company’s stock worth $488,000 after buying an additional 2,200 shares during the period. Finally, Teachers Advisors LLC increased its stake in Ignyta by 5.0% in the first quarter. Teachers Advisors LLC now owns 57,244 shares of the biopharmaceutical company’s stock worth $492,000 after buying an additional 2,748 shares during the period. Hedge funds and other institutional investors own 47.79% of the company’s stock.

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.

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