Ladenburg Thalmann Financial Services Downgrades Ignyta (NASDAQ:RXDX) to Neutral

Ladenburg Thalmann Financial Services downgraded shares of Ignyta (NASDAQ:RXDX) from a buy rating to a neutral rating in a research report report published on Tuesday, December 26th, Marketbeat reports.

Several other research analysts have also weighed in on the company. Cantor Fitzgerald reissued a buy rating and set a $15.00 price target on shares of Ignyta in a research report on Wednesday, September 6th. Zacks Investment Research raised Ignyta from a hold rating to a buy rating and set a $18.00 price target on the stock in a research report on Tuesday, November 14th. SunTrust Banks started coverage on Ignyta in a research report on Monday, November 20th. They set a buy rating on the stock. JPMorgan Chase & Co. reissued a buy rating and set a $20.00 price target (up from $18.00) on shares of Ignyta in a research report on Thursday, October 12th. Finally, Jefferies Group lowered Ignyta from a buy rating to a hold rating and set a $27.00 price target on the stock. in a research report on Friday, December 22nd. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $26.33.

Shares of Ignyta (RXDX) opened at $26.95 on Tuesday. The company has a market capitalization of $1,790.00, a price-to-earnings ratio of -9.94 and a beta of 206.07. Ignyta has a fifty-two week low of $4.60 and a fifty-two week high of $27.10. The company has a current ratio of 6.07, a quick ratio of 6.07 and a debt-to-equity ratio of 0.34.

Ignyta (NASDAQ:RXDX) last posted its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.03. sell-side analysts anticipate that Ignyta will post -2.27 EPS for the current year.

Hedge funds have recently modified their holdings of the business. Schwab Charles Investment Management Inc. increased its position in Ignyta by 28.5% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 117,745 shares of the biopharmaceutical company’s stock worth $1,219,000 after purchasing an additional 26,100 shares during the last quarter. Victory Capital Management Inc. increased its position in Ignyta by 29.7% in the 2nd quarter. Victory Capital Management Inc. now owns 3,638,632 shares of the biopharmaceutical company’s stock worth $37,660,000 after purchasing an additional 833,798 shares during the last quarter. Citadel Advisors LLC increased its position in Ignyta by 108.3% in the 2nd quarter. Citadel Advisors LLC now owns 76,585 shares of the biopharmaceutical company’s stock worth $793,000 after purchasing an additional 39,819 shares during the last quarter. Pier Capital LLC acquired a new position in Ignyta in the 2nd quarter worth about $5,823,000. Finally, TIAA CREF Investment Management LLC increased its position in Ignyta by 123.9% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 287,394 shares of the biopharmaceutical company’s stock worth $2,975,000 after purchasing an additional 159,055 shares during the last quarter. 71.51% of the stock is currently owned by institutional investors.

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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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