Ignyta (RXDX) PT Set at $23.00 by Cantor Fitzgerald

Cantor Fitzgerald set a $23.00 price objective on Ignyta (NASDAQ:RXDX) in a research note published on Thursday morning. The firm currently has a buy rating on the biopharmaceutical company’s stock.

Other analysts have also recently issued reports about the company. Jefferies Group cut Ignyta from a buy rating to a hold rating and set a $27.00 price target for the company. in a research report on Thursday. JPMorgan Chase & Co. reiterated a buy rating and set a $20.00 price target (up from $18.00) on shares of Ignyta in a research report on Thursday, October 12th. Ladenburg Thalmann Financial Services cut Ignyta from a buy rating to a neutral rating in a research report on Tuesday, December 26th. Zacks Investment Research cut Ignyta from a buy rating to a hold rating in a research report on Wednesday, October 18th. Finally, SunTrust Banks started coverage on Ignyta in a research report on Monday, November 20th. They set a buy rating for the company. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Ignyta currently has an average rating of Hold and an average target price of $24.33.

Shares of Ignyta (NASDAQ:RXDX) opened at $26.70 on Thursday. The company has a market capitalization of $1,804.63, a P/E ratio of -9.89 and a beta of 2.09. Ignyta has a 12-month low of $4.60 and a 12-month high of $26.85. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.07 and a quick ratio of 6.07.

Ignyta (NASDAQ:RXDX) last posted its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.51) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.54) by $0.03. sell-side analysts anticipate that Ignyta will post -2.27 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of RXDX. Numeric Investors LLC purchased a new stake in shares of Ignyta during the second quarter worth approximately $126,000. Legal & General Group Plc increased its position in shares of Ignyta by 71.9% during the second quarter. Legal & General Group Plc now owns 12,681 shares of the biopharmaceutical company’s stock worth $131,000 after purchasing an additional 5,306 shares in the last quarter. Virtu KCG Holdings LLC purchased a new stake in shares of Ignyta during the second quarter worth approximately $132,000. Goldman Sachs Group Inc. acquired a new position in Ignyta during the first quarter worth $133,000. Finally, TD Asset Management Inc. acquired a new position in Ignyta during the second quarter worth $136,000. Hedge funds and other institutional investors own 72.86% of the company’s stock.

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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.

Analyst Recommendations for Ignyta (NASDAQ:RXDX)

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