Ignyta, Inc. (RXDX) Receives $19.25 Consensus Target Price from Analysts
Ignyta, Inc. (NASDAQ:RXDX) has earned a consensus rating of “Buy” from the six ratings firms that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $20.67.
A number of research analysts have weighed in on the stock. Zacks Investment Research cut shares of Ignyta from a “buy” rating to a “hold” rating in a research report on Saturday, April 1st. Jefferies Group LLC reissued a “buy” rating and set a $27.00 target price on shares of Ignyta in a research note on Thursday. ValuEngine raised shares of Ignyta from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. Finally, Cantor Fitzgerald set a $15.00 target price on shares of Ignyta and gave the company a “buy” rating in a research note on Sunday, June 4th.
Shares of Ignyta (NASDAQ RXDX) traded down 2.045% during midday trading on Friday, reaching $10.775. 879,884 shares of the company’s stock traded hands. Ignyta has a one year low of $4.15 and a one year high of $11.45. The company’s market capitalization is $450.78 million. The company has a 50-day moving average of $7.49 and a 200-day moving average of $7.30.
Ignyta (NASDAQ:RXDX) last posted its quarterly earnings data on Monday, May 1st. The biopharmaceutical company reported ($0.96) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.69) by $0.27. Equities research analysts anticipate that Ignyta will post ($2.77) EPS for the current year.
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A number of hedge funds have recently added to or reduced their stakes in RXDX. TIAA CREF Investment Management LLC raised its stake in Ignyta by 2.9% in the first quarter. TIAA CREF Investment Management LLC now owns 128,339 shares of the biopharmaceutical company’s stock worth $1,104,000 after buying an additional 3,611 shares during the period. Teachers Advisors LLC raised 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. Neuberger Berman Group LLC acquired a new stake in Ignyta during the first quarter worth $366,000. American International Group Inc. raised 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. Finally, EAM Investors LLC acquired a new stake in Ignyta during the first quarter worth $1,307,000. 47.79% of the stock is owned by institutional investors.
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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