Ignyta Inc (NASDAQ:RXDX) has been assigned a consensus recommendation of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $25.25.
RXDX has been the topic of several research reports. SunTrust Banks downgraded Ignyta from a “buy” rating to a “hold” rating and raised their price objective for the stock from $25.00 to $27.00 in a report on Tuesday, December 26th. Zacks Investment Research upgraded Ignyta from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Tuesday, November 14th. ValuEngine upgraded Ignyta from a “sell” rating to a “hold” rating in a report on Friday, February 2nd. Cantor Fitzgerald restated a “hold” rating and set a $27.00 price objective on shares of Ignyta in a report on Friday, February 9th. Finally, Jefferies Group downgraded Ignyta from a “buy” rating to a “hold” rating and set a $27.00 price objective on the stock. in a report on Friday, December 22nd.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. QS Investors LLC purchased a new position in shares of Ignyta in the 4th quarter valued at $117,000. Amalgamated Bank purchased a new position in shares of Ignyta in the 4th quarter valued at $213,000. Numeric Investors LLC purchased a new position in shares of Ignyta in the 2nd quarter valued at $126,000. Trexquant Investment LP purchased a new position in shares of Ignyta in the 3rd quarter valued at $152,000. Finally, Legal & General Group Plc increased its holdings in shares of Ignyta by 71.9% in the 2nd quarter. Legal & General Group Plc now owns 12,681 shares of the biopharmaceutical company’s stock valued at $131,000 after acquiring an additional 5,306 shares during the period. Institutional investors own 72.28% of the company’s stock.
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Ignyta Company Profile
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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