Ignyta, Inc. (NASDAQ:RXDX) had its target price upped by analysts at Ladenburg Thalmann Financial Services from $20.25 to $31.00 in a report issued on Wednesday. Ladenburg Thalmann Financial Services’ target price would suggest a potential upside of 90.77% from the stock’s current price.

RXDX has been the subject of a number of other research reports. Zacks Investment Research cut Ignyta from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. J P Morgan Chase & Co reiterated a “buy” rating and set a $20.00 price objective (up previously from $18.00) on shares of Ignyta in a research note on Thursday, October 12th. Cantor Fitzgerald set a $15.00 price objective on Ignyta and gave the company a “buy” rating in a research note on Tuesday. BidaskClub cut Ignyta from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $27.00 price objective on shares of Ignyta in a research note on Thursday, June 22nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Ignyta has an average rating of “Buy” and a consensus price target of $21.80.

Ignyta (RXDX) traded up 13.24% during midday trading on Wednesday, reaching $16.25. The company had a trading volume of 11,940,362 shares. The stock’s market capitalization is $914.11 million. The company has a 50-day moving average of $12.04 and a 200-day moving average of $9.52. Ignyta has a 12-month low of $4.15 and a 12-month high of $18.30.

Ignyta (NASDAQ:RXDX) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.07. On average, analysts predict that Ignyta will post ($2.57) EPS for the current fiscal year.

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A number of large investors have recently made changes to their positions in the business. Wells Fargo & Company MN raised its stake in Ignyta by 2.3% during the second quarter. Wells Fargo & Company MN now owns 22,385 shares of the biopharmaceutical company’s stock valued at $231,000 after buying an additional 500 shares during the last quarter. American International Group Inc. raised its stake in Ignyta by 7.1% during the first quarter. American International Group Inc. now owns 18,148 shares of the biopharmaceutical company’s stock valued at $156,000 after buying an additional 1,197 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in Ignyta by 2.9% during the first quarter. TIAA CREF Investment Management LLC now owns 128,339 shares of the biopharmaceutical company’s stock valued at $1,104,000 after buying an additional 3,611 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Ignyta by 6.9% during the first quarter. Dimensional Fund Advisors LP now owns 61,114 shares of the biopharmaceutical company’s stock valued at $526,000 after buying an additional 3,946 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Ignyta by 71.9% during the second quarter. Legal & General Group Plc now owns 12,681 shares of the biopharmaceutical company’s stock valued at $131,000 after buying an additional 5,306 shares during the last quarter. Institutional investors and hedge funds own 80.82% 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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