Ignyta Inc. (RXDX) Stock Price Down 3%
Ignyta Inc. (NASDAQ:RXDX) shares dropped 3% during trading on Monday . The stock traded as low as $5.84 and last traded at $5.85, with a volume of 64,215 shares. The stock had previously closed at $6.03.
RXDX has been the topic of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Ignyta in a research note on Thursday, June 23rd. They issued an “overweight” rating and a $15.00 price target on the stock. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $32.00 price target (down previously from $38.00) on shares of Ignyta in a research note on Tuesday, March 15th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Ignyta in a research note on Wednesday, June 8th. Zacks Investment Research raised shares of Ignyta from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research note on Tuesday, March 15th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $20.00 price target on shares of Ignyta in a research note on Monday, April 18th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $18.07.
The firm’s 50 day moving average price is $5.94 and its 200-day moving average price is $7.68. The stock’s market cap is $240.29 million.
Ignyta (NASDAQ:RXDX) last announced its quarterly earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.68) by $0.11. On average, equities analysts predict that Ignyta Inc. will post ($2.72) earnings per share for the current fiscal year.
In other news, Director Alexander W. Casdin purchased 232,000 shares of the stock in a transaction dated Wednesday, May 4th. The shares were purchased at an average price of $6.25 per share, with a total value of $1,450,000.00. Following the transaction, the director now owns 100,000 shares in the company, valued at approximately $625,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Ignyta, Inc is an oncology biotechnology company. The Company focuses on an integrated therapeutic (Rx) and companion diagnostic (Dx) strategy for treating cancer patients. Its Rx is focused on discovering, in licensing or acquiring, then developing and commercializing molecularly targeted therapies that, sequentially or in combination, are foundational for eradicating residual disease.
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