Zacks Investment Research lowered shares of Ignyta, Inc. (NASDAQ:RXDX) from a buy rating to a hold rating in a research report sent to investors on Wednesday, October 18th.
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. “
Several other equities analysts have also commented on the stock. Cantor Fitzgerald set a $15.00 price target on shares of Ignyta and gave the company a buy rating in a research note on Tuesday, October 17th. J P Morgan Chase & Co reiterated a buy rating and issued a $20.00 price target (up from $18.00) on shares of Ignyta in a research note on Thursday, October 12th. BidaskClub downgraded Ignyta from a buy rating to a hold rating in a report on Friday, July 28th. Finally, Jefferies Group LLC reissued a buy rating and issued a $27.00 price objective on shares of Ignyta in a report on Thursday, June 22nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Ignyta presently has an average rating of Buy and an average target price of $21.80.
Ignyta (NASDAQ:RXDX) traded up $0.05 during midday trading on Wednesday, reaching $15.70. 879,479 shares of the company’s stock were exchanged, compared to its average volume of 2,163,264. The company has a debt-to-equity ratio of 0.26, a quick ratio of 7.31 and a current ratio of 7.30. Ignyta has a 52 week low of $4.15 and a 52 week high of $18.30.
Ignyta (NASDAQ:RXDX) last released its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.56) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.63) by $0.07. analysts predict that Ignyta will post -2.51 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the business. Wells Fargo & Company MN lifted its holdings in Ignyta by 2.3% in the second quarter. Wells Fargo & Company MN now owns 22,385 shares of the biopharmaceutical company’s stock valued at $231,000 after acquiring an additional 500 shares during the period. American International Group Inc. increased its holdings in shares of Ignyta by 7.1% during the 1st quarter. American International Group Inc. now owns 18,148 shares of the biopharmaceutical company’s stock valued at $156,000 after acquiring an additional 1,197 shares during the last quarter. TIAA CREF Investment Management LLC increased its holdings in shares of Ignyta by 2.9% during the 1st quarter. TIAA CREF Investment Management LLC now owns 128,339 shares of the biopharmaceutical company’s stock valued at $1,104,000 after acquiring an additional 3,611 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Ignyta by 6.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 61,114 shares of the biopharmaceutical company’s stock worth $526,000 after acquiring an additional 3,946 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of 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. 67.35% of the stock is owned by institutional investors.
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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