Ignyta Inc. (NASDAQ:RXDX) shares shot up 0.5% on Wednesday . The company traded as high as $5.98 and last traded at $5.62, with a volume of 157,413 shares changing hands. The stock had previously closed at $5.59.

A number of research firms recently weighed in on RXDX. Jefferies Group reiterated a “buy” rating on shares of Ignyta in a research note on Wednesday, May 11th. Credit Suisse Group AG restated a “buy” rating on shares of Ignyta in a research report on Tuesday, July 12th. Leerink Swann restated a “buy” rating on shares of Ignyta in a research report on Thursday, May 12th. Piper Jaffray Cos. reduced their price target on shares of Ignyta from $32.00 to $20.00 and set an “overweight” rating for the company in a research report on Wednesday, August 10th. Finally, Zacks Investment Research lowered shares of Ignyta from a “hold” rating to a “sell” rating in a research report on Saturday, August 13th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $16.36.

The company’s market capitalization is $243.14 million. The stock has a 50-day moving average of $5.68 and a 200 day moving average of $6.35.

Ignyta (NASDAQ:RXDX) last issued its quarterly earnings data on Tuesday, August 9th. The biopharmaceutical company reported ($0.70) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.65) by $0.05. Equities research analysts predict that Ignyta Inc. will post ($2.83) EPS for the current fiscal year.

In related news, Director James A. Bristol acquired 5,000 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were bought at an average price of $5.65 per share, for a total transaction of $28,250.00. Following the completion of the transaction, the director now directly owns 21,667 shares in the company, valued at $122,418.55. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through 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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