Ignyta (NASDAQ:RXDX)‘s stock had its “hold” rating reiterated by analysts at Cantor Fitzgerald in a note issued to investors on Friday. They presently have a $27.00 target price on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 0.19% from the stock’s current price.
The analysts wrote, “The merger was announced on December 22, 2017, and the transaction was completed on February 8, 2018.””
A number of other research analysts have also recently commented on the company. ValuEngine upgraded Ignyta from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. Zacks Investment Research cut Ignyta from a “buy” rating to a “hold” rating in a research note on Wednesday, January 17th. Jefferies Group cut Ignyta from a “buy” rating to a “hold” rating and set a $27.00 price target for the company. in a research note on Thursday, December 28th. SunTrust Banks downgraded Ignyta from a “buy” rating to a “hold” rating and increased their price objective for the company from $25.00 to $27.00 in a report on Tuesday, December 26th. Finally, Ladenburg Thalmann Financial Services downgraded Ignyta from a “buy” rating to a “neutral” rating in a report on Tuesday, December 26th. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Ignyta presently has a consensus rating of “Hold” and an average target price of $27.00.
A number of hedge funds and other institutional investors have recently bought and sold shares of RXDX. Numeric Investors LLC acquired a new stake in Ignyta in the second quarter valued at $126,000. Legal & General Group Plc increased its holdings in 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 Ignyta in the second quarter valued at $132,000. Trexquant Investment LP acquired a new stake in Ignyta in the third quarter valued at $152,000. Finally, LMR Partners LLP acquired a new stake in Ignyta in the third quarter valued at $169,000. Institutional investors and hedge funds own 72.28% of the company’s stock.
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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.
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