Ignyta (RXDX) Lowered to “Hold” at Zacks Investment Research
Ignyta (NASDAQ:RXDX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “Ignyta, Inc. is a biotechnology company. It develops precision medicine with integrated Rx/Dx solutions for cancer patients. The company focuses on the development of RXDX-101, its proprietary oral tyrosine kinase inhibitor that targets solid tumor indications, and advancing its novel Spark discovery programs that leverage its proprietary cancer genomic and epigenomic knowledge bases. Ignyta, Inc. is based in San Diego, California. “
RXDX has been the topic of several other research reports. JPMorgan 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 reiterated a “buy” rating and set a $15.00 price objective on shares of Ignyta in a research note on Wednesday, September 27th. Jefferies Group lowered shares of Ignyta from a “buy” rating to a “hold” rating and set a $27.00 price objective on the stock. in a research note on Thursday, December 28th. SunTrust Banks started coverage on shares of Ignyta in a research note on Monday, November 20th. They set a “buy” rating on the stock. Finally, Ladenburg Thalmann Financial Services increased their price objective on shares of Ignyta from $20.25 to $31.00 in a research note on Wednesday, October 18th. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $26.33.
Ignyta (NASDAQ:RXDX) last issued its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.51) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.03. equities research analysts expect that Ignyta will post -2.27 earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the business. Numeric Investors LLC acquired a new stake in shares of Ignyta in the second quarter valued at approximately $126,000. Legal & General Group Plc increased its stake in shares of Ignyta by 71.9% in the second quarter. Legal & General Group Plc now owns 12,681 shares of the biopharmaceutical company’s stock valued at $131,000 after purchasing an additional 5,306 shares during the period. Virtu KCG Holdings LLC acquired a new stake in shares of Ignyta in the second quarter valued at approximately $132,000. Trexquant Investment LP acquired a new stake in shares of Ignyta in the third quarter valued at approximately $152,000. Finally, LMR Partners LLP acquired a new stake in shares of Ignyta in the third quarter valued at approximately $169,000. Institutional investors own 71.51% of the company’s stock.
COPYRIGHT VIOLATION WARNING: This article was posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark & copyright laws. The legal version of this article can be accessed at https://www.americanbankingnews.com/2018/01/17/ignyta-rxdx-lowered-to-hold-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Ignyta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ignyta and related companies with MarketBeat.com's FREE daily email newsletter.