Shares of Ignyta Inc. (NASDAQ:RXDX) have been given a consensus rating of “Buy” by the seven research firms that are currently covering the firm. One investment analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $18.25.
RXDX has been the topic of several research reports. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Ignyta in a report on Wednesday, June 8th. JPMorgan Chase & Co. initiated coverage on shares of Ignyta in a report on Thursday, June 23rd. They set an “overweight” rating and a $15.00 price target on the stock. Zacks Investment Research lowered shares of Ignyta from a “hold” rating to a “sell” rating in a report on Saturday, August 13th. Jefferies Group reaffirmed a “buy” rating and set a $20.00 price target on shares of Ignyta in a report on Monday, June 6th. Finally, Piper Jaffray Cos. decreased their price target on shares of Ignyta from $32.00 to $20.00 and set an “overweight” rating on the stock in a report on Wednesday, August 10th.
Shares of Ignyta (NASDAQ:RXDX) opened at 6.29 on Wednesday. Ignyta has a 12-month low of $4.63 and a 12-month high of $15.20. The firm has a 50-day moving average of $5.94 and a 200 day moving average of $6.21. The firm’s market capitalization is $261.98 million.
Ignyta (NASDAQ:RXDX) last announced its quarterly earnings results on Tuesday, August 9th. The biopharmaceutical company reported ($0.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by $0.05. On average, equities research analysts expect that Ignyta will post ($2.83) earnings per share for the current year.
In other news, Director James A. Bristol purchased 5,000 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were purchased at an average price of $5.65 per share, for a total transaction of $28,250.00. Following the transaction, the director now owns 21,667 shares of the company’s stock, valued at $122,418.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 15.10% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of RXDX. Alliancebernstein L.P. increased its position in shares of Ignyta by 48.2% in the second quarter. Alliancebernstein L.P. now owns 20,300 shares of the biopharmaceutical company’s stock worth $110,000 after buying an additional 6,600 shares during the period. Rhumbline Advisers increased its position in shares of Ignyta by 11.6% in the second quarter. Rhumbline Advisers now owns 27,635 shares of the biopharmaceutical company’s stock worth $150,000 after buying an additional 2,875 shares during the period. Nationwide Fund Advisors increased its position in shares of Ignyta by 18.4% in the second quarter. Nationwide Fund Advisors now owns 32,394 shares of the biopharmaceutical company’s stock worth $176,000 after buying an additional 5,044 shares during the period. UBS Oconnor LLC purchased a new position in shares of Ignyta during the second quarter worth about $185,000. Finally, Teachers Advisors Inc. increased its position in shares of Ignyta by 48.6% in the second quarter. Teachers Advisors Inc. now owns 49,287 shares of the biopharmaceutical company’s stock worth $267,000 after buying an additional 16,123 shares during the period. Hedge funds and other institutional investors 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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