Ignyta Inc (NASDAQ:RXDX) has received an average recommendation of “Hold” from the eight analysts that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $22.00.
Several analysts recently commented on RXDX shares. SunTrust Banks lowered Ignyta from a “buy” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research raised Ignyta from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Tuesday, November 14th. Cantor Fitzgerald reissued a “buy” rating and set a $15.00 price target on shares of Ignyta in a report on Wednesday, September 27th. Ladenburg Thalmann Financial Services boosted their price target on Ignyta from $20.25 to $31.00 in a report on Wednesday, October 18th. Finally, Jefferies Group lowered Ignyta from a “buy” rating to a “hold” rating and set a $27.00 price target for the company. in a report on Friday.
Shares of Ignyta (RXDX) opened at $26.85 on Tuesday. The company has a quick ratio of 6.07, a current ratio of 6.07 and a debt-to-equity ratio of 0.34. Ignyta has a fifty-two week low of $4.60 and a fifty-two week high of $26.85. The company has a market capitalization of $1,781.18, a price-to-earnings ratio of -9.94 and a beta of 2.09.
Large investors have recently added to or reduced their stakes in the business. Schwab Charles Investment Management Inc. grew its holdings in Ignyta by 28.5% during the second quarter. Schwab Charles Investment Management Inc. now owns 117,745 shares of the biopharmaceutical company’s stock valued at $1,219,000 after purchasing an additional 26,100 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Ignyta by 29.7% in the second quarter. Victory Capital Management Inc. now owns 3,638,632 shares of the biopharmaceutical company’s stock worth $37,660,000 after acquiring an additional 833,798 shares during the period. Citadel Advisors LLC boosted its stake in shares of Ignyta by 108.3% in the second quarter. Citadel Advisors LLC now owns 76,585 shares of the biopharmaceutical company’s stock worth $793,000 after acquiring an additional 39,819 shares during the period. Pier Capital LLC bought a new position in shares of Ignyta in the second quarter worth about $5,823,000. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Ignyta by 123.9% in the second quarter. TIAA CREF Investment Management LLC now owns 287,394 shares of the biopharmaceutical company’s stock worth $2,975,000 after acquiring an additional 159,055 shares during the period. 72.86% of the stock is owned by institutional investors and hedge funds.
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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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