Cantor Fitzgerald Analysts Give Ignyta, Inc. (RXDX) a $23.00 Price Target

Cantor Fitzgerald set a $23.00 price target on Ignyta, Inc. (NASDAQ:RXDX) in a report published on Tuesday. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.

RXDX has been the topic of several other reports. J P Morgan Chase & Co reissued a buy rating and issued a $20.00 target price (up from $18.00) on shares of Ignyta in a research report on Thursday, October 12th. Zacks Investment Research downgraded shares of Ignyta from a buy rating to a hold rating in a research report on Wednesday, October 18th. Ladenburg Thalmann Financial Services lifted their target price on shares of Ignyta from $20.25 to $31.00 in a research report on Wednesday, October 18th. Finally, BidaskClub downgraded shares of Ignyta from a buy rating to a hold rating in a research report on Friday, July 28th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. Ignyta currently has an average rating of Buy and an average target price of $23.80.

Ignyta (NASDAQ RXDX) opened at $14.90 on Tuesday. 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 1 year low of $4.60 and a 1 year high of $18.30.

Ignyta (NASDAQ:RXDX) last announced its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.54) by $0.03. analysts forecast that Ignyta will post -2.31 EPS for the current fiscal year.

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Hedge funds have recently bought and sold shares of the stock. Cutter & CO Brokerage Inc. acquired a new stake in shares of Ignyta during the second quarter worth approximately $122,000. Numeric Investors LLC acquired a new stake in Ignyta in the second quarter valued at approximately $126,000. Trexquant Investment LP acquired a new stake in Ignyta in the third quarter valued at approximately $152,000. Legal & General Group Plc lifted its stake 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 acquiring an additional 5,306 shares during the last quarter. Finally, Virtu KCG Holdings LLC acquired a new stake in Ignyta in the second quarter valued at approximately $132,000. Institutional investors and hedge funds own 67.98% 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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