Ignyta, Inc. (RXDX) Given a $15.00 Price Target by Cantor Fitzgerald Analysts

Ignyta, Inc. (NASDAQ:RXDX) has been assigned a $15.00 price target by Cantor Fitzgerald in a research report issued to clients and investors on Monday, May 15th. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price indicates a potential upside of 52.28% from the company’s current price.

Separately, Zacks Investment Research upgraded shares of Ignyta from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Saturday, March 25th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Ignyta currently has a consensus rating of “Buy” and an average price target of $16.00.

Analyst Recommendations for Ignyta (NASDAQ:RXDX)

Shares of Ignyta (NASDAQ RXDX) traded up 8.24% during trading on Monday, reaching $9.85. 2,177,419 shares of the company traded hands. The stock’s market capitalization is $412.08 million. The company has a 50-day moving average of $7.41 and a 200-day moving average of $7.23. Ignyta has a 12 month low of $4.15 and a 12 month high of $10.10.

Ignyta (NASDAQ:RXDX) last announced its quarterly earnings data on Monday, May 1st. The biopharmaceutical company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.69) by $0.27. Analysts forecast that Ignyta will post ($2.71) earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of RXDX. Renaissance Technologies LLC raised 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 during the period. Baker BROS. Advisors LP acquired a new position in shares of Ignyta during the third quarter worth about $3,592,000. State Street Corp raised its position in Ignyta by 7.8% in the fourth quarter. State Street Corp now owns 426,861 shares of the biopharmaceutical company’s stock valued at $2,264,000 after buying an additional 30,833 shares during the last quarter. Victory Capital Management Inc. raised its position in Ignyta by 16.2% in the first quarter. Victory Capital Management Inc. now owns 2,804,834 shares of the biopharmaceutical company’s stock valued at $24,122,000 after buying an additional 390,741 shares during the last quarter. Finally, Trexquant Investment LP purchased a new position in Ignyta during the first quarter valued at about $219,000. Institutional investors and hedge funds own 47.79% of the company’s stock.

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.

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