ValuEngine upgraded shares of Ignyta, Inc. (NASDAQ:RXDX) from a sell rating to a hold rating in a research note issued to investors on Thursday.

Several other equities analysts have also recently commented on the stock. Cantor Fitzgerald set a $15.00 price target on shares of Ignyta and gave the stock a buy rating in a research report on Sunday, June 4th. Zacks Investment Research raised shares of Ignyta from a sell rating to a hold rating in a research report on Tuesday, May 30th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Ignyta has a consensus rating of Buy and an average target price of $16.00.

Analyst Recommendations for Ignyta (NASDAQ:RXDX)

Ignyta (NASDAQ RXDX) opened at 10.20 on Thursday. Ignyta has a 12-month low of $4.15 and a 12-month high of $10.50. The stock’s market capitalization is $426.73 million. The company has a 50-day moving average price of $7.45 and a 200-day moving average price of $7.28.

Ignyta (NASDAQ:RXDX) last issued its quarterly earnings results on Monday, May 1st. The biopharmaceutical company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.69) by $0.27. On average, equities research analysts forecast that Ignyta will post ($2.71) earnings per share for the current year.

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A number of institutional investors have recently modified their holdings of the company. Trexquant Investment LP acquired a new position in shares of Ignyta during the first quarter worth about $219,000. Renaissance Technologies LLC boosted its position in shares of Ignyta by 2.4% in the fourth quarter. Renaissance Technologies LLC now owns 92,100 shares of the biopharmaceutical company’s stock worth $488,000 after buying an additional 2,200 shares in the last quarter. State Street Corp boosted its position in shares of Ignyta by 7.8% in the fourth quarter. State Street Corp now owns 426,861 shares of the biopharmaceutical company’s stock worth $2,264,000 after buying an additional 30,833 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Ignyta by 16.2% in the first quarter. Victory Capital Management Inc. now owns 2,804,834 shares of the biopharmaceutical company’s stock worth $24,122,000 after buying an additional 390,741 shares in the last quarter. Finally, TFS Capital LLC boosted its position in shares of Ignyta by 5.5% in the first quarter. TFS Capital LLC now owns 32,486 shares of the biopharmaceutical company’s stock worth $279,000 after buying an additional 1,680 shares in the last quarter. 47.79% of the stock is currently owned by hedge funds and other institutional investors.

About Ignyta

Ignyta, Inc is a biotechnology company. The Company is focused on precision medicine in oncology. The Company is pursuing an integrated therapeutic (Rx) and companion diagnostic (Dx) strategy for treating cancer patients. The Company’s pipeline includes various compounds, such as entrectinib, RXDX-105, taladegib and RXDX-106.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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