Cantor Fitzgerald Analysts Give Ignyta, Inc. (RXDX) a $23.00 Price Target

Ignyta, Inc. (NASDAQ:RXDX) has been assigned a $23.00 price objective by research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price points to a potential upside of 45.80% from the company’s previous close.

Several other equities research analysts also recently issued reports on the company. Zacks Investment Research upgraded Ignyta from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Tuesday. Ladenburg Thalmann Financial Services increased their price target on Ignyta from $20.25 to $31.00 in a report on Wednesday, October 18th. J P Morgan Chase & Co reiterated a “buy” rating and set a $20.00 price objective (up from $18.00) on shares of Ignyta in a report on Thursday, October 12th. Finally, BidaskClub downgraded Ignyta from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Ignyta has an average rating of “Buy” and a consensus target price of $23.80.

Shares of Ignyta (NASDAQ RXDX) traded down $0.22 during trading on Tuesday, hitting $15.78. The company’s stock had a trading volume of 207,711 shares, compared to its average volume of 808,738. Ignyta has a 12 month low of $4.60 and a 12 month high of $18.30. The company has a quick ratio of 6.07, a current ratio of 6.07 and a debt-to-equity ratio of 0.34.

Ignyta (NASDAQ:RXDX) last announced its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $0.03. research analysts predict that Ignyta will post -2.38 EPS for the current fiscal year.

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Several large investors have recently bought and sold shares of RXDX. Cutter & CO Brokerage Inc. bought a new position in shares of Ignyta during the second quarter worth about $122,000. Numeric Investors LLC bought a new position in shares of Ignyta during the second quarter worth about $126,000. Legal & General Group Plc grew its holdings 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 buying an additional 5,306 shares in the last quarter. Virtu KCG Holdings LLC bought a new position in shares of Ignyta during the second quarter worth about $132,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Ignyta during the first quarter worth about $133,000. Institutional investors and hedge funds own 67.98% 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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