Ignyta Inc. (NASDAQ:RXDX) shares shot up 3.1% during trading on Monday . The company traded as high as $5.61 and last traded at $5.58, with a volume of 147,041 shares changing hands. The stock had previously closed at $5.41.

A number of research firms have issued reports on RXDX. Piper Jaffray Cos. reissued a “buy” rating and issued a $32.00 price objective on shares of Ignyta in a report on Sunday, May 8th. Leerink Swann reissued a “buy” rating on shares of Ignyta in a report on Thursday, May 12th. Jefferies Group reissued a “buy” rating on shares of Ignyta in a report on Wednesday, May 11th. Cantor Fitzgerald reissued a “buy” rating on shares of Ignyta in a report on Thursday, April 7th. Finally, Credit Suisse Group AG reissued a “buy” rating on shares of Ignyta in a report on Tuesday, July 12th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Ignyta has a consensus rating of “Buy” and a consensus price target of $18.07.

The firm has a 50 day moving average price of $5.59 and a 200 day moving average price of $7.08. The stock’s market capitalization is $229.88 million.

Ignyta (NASDAQ:RXDX) last announced its quarterly earnings results on Tuesday, May 10th. The biopharmaceutical company reported ($0.79) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.68) by $0.11. On average, analysts forecast that Ignyta Inc. will post ($2.72) earnings per share for the current year.

In other news, Director Alexander W. Casdin purchased 232,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 4th. The shares were bought at an average price of $6.25 per share, for a total transaction of $1,450,000.00. Following the purchase, the director now directly owns 100,000 shares in the company, valued at approximately $625,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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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