Cantor Fitzgerald set a $23.00 price objective on Ignyta, Inc. (NASDAQ:RXDX) in a research report report published on Tuesday morning. The firm currently has a buy rating on the biopharmaceutical company’s stock.

RXDX has been the topic of a number of other reports. J P Morgan Chase & Co restated a buy rating and issued a $20.00 target price (up from $18.00) on shares of Ignyta in a research note on Thursday, October 12th. BidaskClub lowered Ignyta from a strong-buy rating to a buy rating in a research report on Wednesday, July 19th. Zacks Investment Research lowered Ignyta from a buy rating to a hold rating in a research report on Wednesday, October 18th. Finally, Ladenburg Thalmann Financial Services increased their price objective on Ignyta from $20.25 to $31.00 in a research report on Wednesday, October 18th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $23.80.

Shares of Ignyta (NASDAQ:RXDX) traded up $0.05 during midday trading on Tuesday, reaching $14.90. The company’s stock had a trading volume of 956,274 shares, compared to its average volume of 815,599. The company has a debt-to-equity ratio of 0.34, a quick ratio of 6.07 and a current ratio of 6.07. Ignyta has a fifty-two week low of $4.60 and a fifty-two week high of $18.30.

Ignyta (NASDAQ:RXDX) last announced its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.03. research analysts forecast that Ignyta will post -2.31 EPS for the current fiscal year.

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Several institutional investors have recently made changes to their positions in the company. Tang Capital Management LLC increased its position in shares of Ignyta by 19.9% during the 2nd quarter. Tang Capital Management LLC now owns 4,763,602 shares of the biopharmaceutical company’s stock valued at $49,303,000 after purchasing an additional 790,802 shares during the last quarter. RA Capital Management LLC increased its position in shares of Ignyta by 291.8% during the 2nd quarter. RA Capital Management LLC now owns 4,016,990 shares of the biopharmaceutical company’s stock valued at $41,576,000 after purchasing an additional 2,991,699 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Ignyta by 29.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,638,632 shares of the biopharmaceutical company’s stock valued at $37,660,000 after purchasing an additional 833,798 shares during the last quarter. Broadfin Capital LLC increased its position in shares of Ignyta by 11.5% during the 2nd quarter. Broadfin Capital LLC now owns 2,941,247 shares of the biopharmaceutical company’s stock valued at $30,442,000 after purchasing an additional 303,901 shares during the last quarter. Finally, Frazier Management LLC increased its position in shares of Ignyta by 123.2% during the 2nd quarter. Frazier Management LLC now owns 2,173,593 shares of the biopharmaceutical company’s stock valued at $22,497,000 after purchasing an additional 1,199,900 shares during the last quarter. Hedge funds and other institutional investors own 67.98% 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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