Ignyta (NASDAQ:RXDX) was downgraded by Cantor Fitzgerald from an “overweight” rating to a “neutral” rating in a research note issued to investors on Wednesday. They presently have a $27.00 target price on the biopharmaceutical company’s stock, up from their prior target price of $23.00. Cantor Fitzgerald’s price objective indicates a potential upside of 1.12% from the stock’s current price.

Several other research analysts also recently weighed in on RXDX. SunTrust Banks downgraded Ignyta from a “buy” rating to a “hold” rating and upped their price target for the stock from $25.00 to $27.00 in a research note on Tuesday. Zacks Investment Research upgraded Ignyta from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research note on Tuesday, November 14th. Ladenburg Thalmann Financial Services upped their price target on Ignyta from $20.25 to $31.00 in a research note on Wednesday, October 18th. Jefferies Group downgraded Ignyta from a “buy” rating to a “hold” rating and set a $27.00 price target for the company. in a research note on Friday, December 22nd. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and set a $20.00 target price (up from $18.00) on shares of Ignyta in a research report on Thursday, October 12th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $25.00.

Shares of Ignyta (NASDAQ:RXDX) opened at $26.70 on Wednesday. Ignyta has a 52-week low of $4.60 and a 52-week high of $26.85. The company has a market cap of $1,770.00, a PE ratio of -9.85 and a beta of 206.06. The company has a debt-to-equity ratio of 0.34, a quick ratio of 6.07 and a current ratio of 6.07.

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

A number of institutional investors and hedge funds have recently modified their holdings of RXDX. Numeric Investors LLC bought a new stake in Ignyta in the second quarter worth $126,000. Legal & General Group Plc lifted its position in Ignyta by 71.9% in the second quarter. Legal & General Group Plc now owns 12,681 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 5,306 shares during the last quarter. Virtu KCG Holdings LLC bought a new stake in Ignyta in the second quarter worth $132,000. Goldman Sachs Group Inc. bought a new stake in Ignyta in the first quarter worth $133,000. Finally, TD Asset Management Inc. bought a new stake in Ignyta in the second quarter worth $136,000. Institutional investors own 72.86% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Cantor Fitzgerald Lowers Ignyta (RXDX) to Neutral” was first published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are reading this piece on another domain, it was illegally copied and reposted in violation of US and international trademark & copyright law. The legal version of this piece can be read at https://theolympiareport.com/2017/12/27/ignyta-rxdx-stock-rating-lowered-by-cantor-fitzgerald.html.

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)

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