Ignyta, Inc. (NASDAQ:RXDX) has earned a consensus recommendation of “Buy” from the seven brokerages that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $23.25.

A number of equities analysts have recently commented on RXDX shares. BidaskClub downgraded Ignyta from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Cantor Fitzgerald reissued a “buy” rating and set a $15.00 price objective on shares of Ignyta in a research report on Wednesday, September 27th. Zacks Investment Research raised Ignyta from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Thursday, October 12th. Ladenburg Thalmann Financial Services boosted their price objective on Ignyta from $20.25 to $31.00 in a research report on Wednesday, October 18th. Finally, J P Morgan Chase & Co reissued a “buy” rating and set a $20.00 price objective (up from $18.00) on shares of Ignyta in a research report on Thursday, October 12th.

WARNING: This article was first reported by TheOlympiaReport and is the property of of TheOlympiaReport. If you are viewing this article on another domain, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The legal version of this article can be accessed at https://theolympiareport.com/2017/11/09/brokerages-set-ignyta-inc-rxdx-pt-at-23-25.html.

Ignyta (RXDX) traded down $0.25 during midday trading on Monday, reaching $16.00. The company’s stock had a trading volume of 860,158 shares, compared to its average volume of 811,338. Ignyta has a 52 week low of $4.60 and a 52 week high of $18.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 7.30 and a quick ratio of 7.31.

Ignyta (NASDAQ:RXDX) last announced its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.51) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.54) by $0.03. sell-side analysts forecast that Ignyta will post -2.51 earnings per share for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. Wells Fargo & Company MN lifted its stake in Ignyta by 4,314.7% during the third quarter. Wells Fargo & Company MN now owns 988,227 shares of the biopharmaceutical company’s stock worth $12,206,000 after purchasing an additional 965,842 shares during the last quarter. Trexquant Investment LP purchased a new stake in Ignyta during the third quarter worth approximately $152,000. JPMorgan Chase & Co. lifted its stake in Ignyta by 55.4% during the third quarter. JPMorgan Chase & Co. now owns 1,372,070 shares of the biopharmaceutical company’s stock worth $16,808,000 after purchasing an additional 489,337 shares during the last quarter. TD Asset Management Inc. lifted its stake in Ignyta by 26.0% during the third quarter. TD Asset Management Inc. now owns 16,600 shares of the biopharmaceutical company’s stock worth $205,000 after purchasing an additional 3,425 shares during the last quarter. Finally, LMR Partners LLP purchased a new stake in Ignyta during the third quarter worth approximately $169,000. Hedge funds and other institutional investors own 67.35% of the company’s stock.

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.

Receive News & Ratings for Ignyta Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ignyta Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.