Shares of Ignyta Inc (NASDAQ:RXDX) have been given an average rating of “Hold” by the eight brokerages that are presently covering the company, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $25.25.
Several brokerages recently commented on RXDX. Cantor Fitzgerald reiterated a “hold” rating and set a $27.00 price target on shares of Ignyta in a research report on Friday, February 9th. ValuEngine upgraded Ignyta from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Zacks Investment Research cut Ignyta from a “buy” rating to a “hold” rating in a research report on Wednesday, January 17th. Jefferies Group cut Ignyta from a “buy” rating to a “hold” rating and set a $27.00 price target for the company. in a research report on Thursday, December 28th. Finally, SunTrust Banks cut Ignyta from a “buy” rating to a “hold” rating and boosted their price target for the stock from $25.00 to $27.00 in a research report on Tuesday, December 26th.
Shares of Ignyta (RXDX) traded down $0.02 on Wednesday, hitting $26.95. The company had a trading volume of 4,214,800 shares, compared to its average volume of 3,043,335. 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 52-week low of $5.80 and a 52-week high of $27.10. The stock has a market capitalization of $1,790.00, a PE ratio of -9.94 and a beta of 184.87.
Several institutional investors and hedge funds have recently modified their holdings of the stock. QS Investors LLC purchased a new stake in Ignyta in the 4th quarter valued at $117,000. Numeric Investors LLC purchased a new stake in Ignyta in the 2nd quarter valued at $126,000. Legal & General Group Plc grew its holdings in Ignyta by 71.9% in the 2nd quarter. Legal & General Group Plc now owns 12,681 shares of the biopharmaceutical company’s stock valued at $131,000 after buying an additional 5,306 shares in the last quarter. Virtu KCG Holdings LLC purchased a new stake in Ignyta in the 2nd quarter valued at $132,000. Finally, Trexquant Investment LP purchased a new stake in Ignyta in the 3rd quarter valued at $152,000. Hedge funds and other institutional investors own 72.28% of the company’s stock.
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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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