Ignyta (RXDX) Lifted to “Hold” at ValuEngine

Ignyta (NASDAQ:RXDX) was upgraded by investment analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.

Several other research firms have also commented on RXDX. SunTrust Banks lowered Ignyta from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $25.00 to $27.00 in a research note on Tuesday, December 26th. Zacks Investment Research upgraded Ignyta from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Tuesday, November 14th. Cantor Fitzgerald cut Ignyta from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $23.00 to $27.00 in a research note on Wednesday, December 27th. Ladenburg Thalmann Financial Services upped their price target on Ignyta from $20.25 to $31.00 in a research note on Wednesday, October 18th. Finally, Jefferies Group cut Ignyta from a “buy” rating to a “hold” rating and set a $27.00 price target on the stock. in a research note on Friday, December 22nd. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $26.33.

Shares of Ignyta (NASDAQ:RXDX) traded up $0.05 on Friday, reaching $26.95. The company’s stock had a trading volume of 2,130,000 shares, compared to its average volume of 4,550,000. Ignyta has a 12 month low of $5.32 and a 12 month high of $27.10. The company has a current ratio of 6.07, a quick ratio of 6.07 and a debt-to-equity ratio of 0.34. The firm has a market cap of $1,790.00, a PE ratio of -9.94 and a beta of 184.87.

Ignyta (NASDAQ:RXDX) last released its quarterly 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. equities research analysts predict that Ignyta will post -2.27 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Numeric Investors LLC acquired a new position in shares of Ignyta during the 2nd quarter worth approximately $126,000. Trexquant Investment LP purchased a new stake in Ignyta in the 3rd quarter worth approximately $152,000. Legal & General Group Plc grew its stake in Ignyta by 71.9% in the 2nd quarter. Legal & General Group Plc now owns 12,681 shares of the biopharmaceutical company’s stock worth $131,000 after acquiring an additional 5,306 shares during the period. IFP Advisors Inc grew its stake in Ignyta by 62.4% in the 4th quarter. IFP Advisors Inc now owns 12,743 shares of the biopharmaceutical company’s stock worth $340,000 after acquiring an additional 4,898 shares during the period. Finally, Virtu KCG Holdings LLC purchased a new stake in Ignyta in the 2nd quarter worth approximately $132,000. 72.27% of the stock is currently owned by hedge funds and other institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Ignyta (NASDAQ:RXDX)

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