Ignyta Inc (RXDX) Receives Average Recommendation of “Hold” from Brokerages

Ignyta Inc (NASDAQ:RXDX) has received a consensus rating of “Hold” from the eight analysts that are presently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $25.25.

A number of research analysts have recently commented on the company. Zacks Investment Research upgraded Ignyta from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Wednesday, January 10th. Cantor Fitzgerald restated a “hold” rating and issued a $27.00 target price on shares of Ignyta in a research note on Friday, February 9th. ValuEngine upgraded Ignyta from a “sell” rating to a “hold” rating in a research note on Friday, February 2nd. SunTrust Banks cut Ignyta from a “buy” rating to a “hold” rating and raised their target price for the company from $25.00 to $27.00 in a research note on Tuesday, December 26th. Finally, Ladenburg Thalmann Financial Services cut Ignyta from a “buy” rating to a “neutral” rating in a research note on Tuesday, December 26th.

Ignyta (NASDAQ RXDX) opened at $26.95 on Wednesday. The company has a market capitalization of $1,790.00, a P/E ratio of -9.94 and a beta of 184.87. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.07 and a quick ratio of 6.07. Ignyta has a one year low of $5.80 and a one year high of $27.10.

A number of large investors have recently made changes to their positions in RXDX. Eagle Asset Management Inc. purchased a new position in Ignyta during the fourth quarter valued at $60,248,000. Alliancebernstein L.P. raised its stake in Ignyta by 1,414.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,746,002 shares of the biopharmaceutical company’s stock valued at $46,618,000 after buying an additional 1,630,702 shares during the last quarter. Carillon Tower Advisers Inc. purchased a new position in Ignyta during the fourth quarter valued at $41,780,000. Alpine Associates Management Inc. purchased a new position in Ignyta during the fourth quarter valued at $41,028,000. Finally, Sand Grove Capital Management LLP bought a new stake in shares of Ignyta in the 4th quarter worth $26,725,000. 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.

Analyst Recommendations for Ignyta (NASDAQ:RXDX)

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