Ignyta, Inc. (RXDX) Announces Earnings Results
Ignyta, Inc. (NASDAQ:RXDX) released its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.07, Bloomberg Earnings reports.
Shares of Ignyta (RXDX) traded down 6.74% during trading on Friday, hitting $9.00. The stock had a trading volume of 707,126 shares. The stock has a 50-day moving average of $9.70 and a 200 day moving average of $8.54. The firm’s market cap is $506.28 million. Ignyta has a 12-month low of $4.15 and a 12-month high of $11.45.
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Several equities analysts have weighed in on the company. Zacks Investment Research downgraded Ignyta from a “hold” rating to a “sell” rating in a research report on Wednesday, May 24th. Cantor Fitzgerald set a $15.00 target price on Ignyta and gave the company a “buy” rating in a research report on Monday, May 15th. BidaskClub downgraded Ignyta from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $27.00 target price on shares of Ignyta in a research report on Thursday, June 22nd. Finally, ValuEngine raised Ignyta from a “sell” rating to a “hold” rating in a research report on Thursday, June 15th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.33.
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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