Ignyta (RXDX) Downgraded to “Hold” at Jefferies Group

Jefferies Group downgraded shares of Ignyta (NASDAQ:RXDX) from a buy rating to a hold rating in a report released on Friday, MarketBeat.com reports. The firm currently has $27.00 target price on the biopharmaceutical company’s stock.

Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research raised Ignyta from a hold rating to a buy rating and set a $18.00 target price for the company in a research report on Tuesday, November 14th. Ladenburg Thalmann Financial Services upped their target price on Ignyta from $20.25 to $31.00 in a research report on Wednesday, October 18th. Cantor Fitzgerald reaffirmed a buy rating and set a $15.00 target price on shares of Ignyta in a research report on Wednesday, September 6th. SunTrust Banks assumed coverage on Ignyta in a research report on Monday, November 20th. They set a buy rating for the company. Finally, JPMorgan Chase & Co. reaffirmed a buy rating and set a $20.00 target price (up previously from $18.00) on shares of Ignyta in a research report on Thursday, October 12th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $23.80.

Ignyta (NASDAQ:RXDX) opened at $26.85 on Friday. Ignyta has a twelve month low of $4.60 and a twelve month high of $26.85. The company has a market capitalization of $3,080.00, a P/E ratio of -9.91 and a beta of 206.06. 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 (NASDAQ:RXDX) last released its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.51) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.03. analysts expect that Ignyta will post -2.27 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. AXA boosted its position in shares of Ignyta by 42.0% in the third quarter. AXA now owns 446,298 shares of the biopharmaceutical company’s stock valued at $5,512,000 after acquiring an additional 132,111 shares during the period. Crestline Management LP boosted its position in shares of Ignyta by 44.3% in the third quarter. Crestline Management LP now owns 133,584 shares of the biopharmaceutical company’s stock valued at $1,650,000 after acquiring an additional 41,023 shares during the period. Granite Point Capital Management L.P. bought a new stake in shares of Ignyta in the third quarter valued at approximately $618,000. Allianz Asset Management GmbH bought a new stake in shares of Ignyta in the third quarter valued at approximately $1,175,000. Finally, OxFORD Asset Management LLP bought a new stake in shares of Ignyta in the third quarter valued at approximately $1,480,000. 72.86% of the stock is owned by institutional investors.

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About Ignyta

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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