Ignyta Inc. (NASDAQ:RXDX) fell 3.2% on Thursday . The stock traded as low as $5.45 and last traded at $5.50, with a volume of 70,840 shares. The stock had previously closed at $5.68.

Several brokerages recently weighed in 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 issued a buy rating to the company. Ignyta currently has a consensus rating of “Buy” and an average price target of $18.07.

The stock’s 50 day moving average price is $5.50 and its 200 day moving average price is $7.01. The firm’s market capitalization is $229.05 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 analysts’ consensus estimates of ($0.68) by $0.11. Analysts forecast that Ignyta Inc. will post ($2.72) earnings per share for the current year.

In other Ignyta 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 cost of $6.25 per share, with a total value of $1,450,000.00. Following the completion of the acquisition, the director now directly owns 100,000 shares in the company, valued at approximately $625,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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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