Ignyta Inc. (RXDX) Stock Price Down 1.8%
Shares of Ignyta Inc. (NASDAQ:RXDX) were down 1.8% on Monday . The stock traded as low as $5.77 and last traded at $5.85, with a volume of 83,957 shares traded. The stock had previously closed at $5.96.
Several analysts recently weighed in on RXDX shares. Piper Jaffray Cos. restated an “overweight” rating and issued a $32.00 price target on shares of Ignyta in a research note on Monday, April 18th. Jefferies Group restated a “buy” rating and issued a $20.00 price target on shares of Ignyta in a research note on Monday, April 18th. Credit Suisse Group AG restated a “buy” rating on shares of Ignyta in a research note on Tuesday, July 12th. JPMorgan Chase & Co. started coverage on Ignyta in a research note on Thursday, June 23rd. They issued an “overweight” rating and a $15.00 price target on the stock. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $18.00 price target on shares of Ignyta in a research note on Friday, June 17th. One investment 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 an average target price of $18.07.
The company’s 50 day moving average is $5.51 and its 200 day moving average is $6.74. The firm’s market cap is $240.71 million.
Ignyta (NASDAQ:RXDX) last announced its quarterly earnings data on Tuesday, May 10th. The biopharmaceutical company reported ($0.79) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.68) by $0.11. Analysts anticipate that Ignyta Inc. will post ($2.72) earnings per share for the current year.
A hedge fund recently raised its stake in Ignyta stock. RS Investment Management Co. LLC boosted its stake in Ignyta Inc. (NASDAQ:RXDX) by 28.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,534,161 shares of the biopharmaceutical company’s stock after buying an additional 336,311 shares during the period. RS Investment Management Co. LLC owned 5.18% of Ignyta worth $20,558,000 as of its most recent SEC filing.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.