Ignyta, Inc. (NASDAQ:RXDX) – Jefferies Group decreased their FY2021 EPS estimates for shares of Ignyta in a report issued on Wednesday. Jefferies Group analyst M. Raycroft now expects that the biopharmaceutical company will post earnings of $1.84 per share for the year, down from their prior estimate of $2.02. Jefferies Group currently has a “Buy” rating and a $27.00 target price on the stock.
A number of other analysts have also recently weighed in on RXDX. BidaskClub cut shares of Ignyta from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Zacks Investment Research upgraded shares of Ignyta from a “sell” rating to a “hold” rating in a report on Tuesday, May 30th. Cantor Fitzgerald set a $15.00 price target on shares of Ignyta and gave the company a “buy” rating in a report on Monday, July 10th. Finally, ValuEngine upgraded shares of Ignyta from a “sell” rating to a “hold” rating in a report on Thursday, June 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Ignyta presently has an average rating of “Hold” and a consensus target price of $17.33.
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Ignyta (NASDAQ RXDX) opened at 9.40 on Friday. The stock’s market capitalization is $528.78 million. The firm has a 50-day moving average of $9.83 and a 200 day moving average of $8.38. Ignyta has a one year low of $4.15 and a one year high of $11.45.
Ignyta (NASDAQ:RXDX) last issued its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.07.
Hedge funds have recently added to or reduced their stakes in the stock. Cutter & CO Brokerage Inc. bought a new stake in Ignyta during the second quarter worth approximately $122,000. Legal & General Group Plc boosted its stake in Ignyta by 71.9% in 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 during the period. Virtu KCG Holdings LLC bought a new stake in Ignyta during the second quarter worth approximately $132,000. TD Asset Management Inc. bought a new stake in Ignyta during the second quarter worth approximately $136,000. Finally, Goldman Sachs Group Inc. bought a new stake in Ignyta during the first quarter worth approximately $133,000. Institutional investors and hedge funds own 52.96% of the company’s stock.
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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