Analysts Expect Ignyta, Inc. (RXDX) to Announce -$0.44 Earnings Per Share

Equities research analysts predict that Ignyta, Inc. (NASDAQ:RXDX) will report earnings of ($0.44) per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Ignyta’s earnings. The lowest EPS estimate is ($0.46) and the highest is ($0.43). Ignyta reported earnings of ($0.67) per share in the same quarter last year, which would indicate a positive year over year growth rate of 34.3%. The firm is expected to issue its next quarterly earnings results on Tuesday, March 13th.

On average, analysts expect that Ignyta will report full-year earnings of ($2.27) per share for the current year, with EPS estimates ranging from ($2.41) to ($2.13). For the next year, analysts anticipate that the business will post earnings of ($2.09) per share, with EPS estimates ranging from ($2.65) to ($1.81). Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Ignyta.

Ignyta (NASDAQ:RXDX) last posted its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.03.

A number of research firms have recently issued reports on RXDX. SunTrust Banks began coverage on shares of Ignyta in a report on Monday, November 20th. They set a “buy” rating for the company. Cantor Fitzgerald set a $23.00 price objective on shares of Ignyta and gave the stock a “buy” rating in a report on Tuesday, November 14th. Zacks Investment Research raised shares of Ignyta from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Tuesday, November 14th. Ladenburg Thalmann Financial Services lifted their price objective on shares of Ignyta from $20.25 to $31.00 in a report on Wednesday, October 18th. Finally, J P Morgan Chase & Co reissued a “buy” rating and issued a $20.00 price target (up from $18.00) on shares of Ignyta in a research note on Thursday, October 12th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Ignyta presently has a consensus rating of “Buy” and a consensus target price of $23.80.

Shares of Ignyta (NASDAQ:RXDX) opened at $15.95 on Thursday. Ignyta has a fifty-two week low of $4.60 and a fifty-two week high of $18.30. The company has a current ratio of 6.07, a quick ratio of 6.07 and a debt-to-equity ratio of 0.34.

Several hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its position in shares of Ignyta by 2.3% in the second quarter. Wells Fargo & Company MN now owns 22,385 shares of the biopharmaceutical company’s stock valued at $231,000 after acquiring an additional 500 shares during the period. TD Asset Management Inc. increased its position in shares of Ignyta by 26.0% during the third quarter. TD Asset Management Inc. now owns 16,600 shares of the biopharmaceutical company’s stock valued at $205,000 after buying an additional 3,425 shares during the period. TIAA CREF Investment Management LLC grew its holdings in Ignyta by 2.9% in the first quarter. TIAA CREF Investment Management LLC now owns 128,339 shares of the biopharmaceutical company’s stock worth $1,104,000 after purchasing an additional 3,611 shares during the period. Dimensional Fund Advisors LP grew its holdings in Ignyta by 6.9% in the first quarter. Dimensional Fund Advisors LP now owns 61,114 shares of the biopharmaceutical company’s stock worth $526,000 after purchasing an additional 3,946 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of 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 in the last quarter. Hedge funds and other institutional investors own 72.88% 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.

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Earnings History and Estimates for Ignyta (NASDAQ:RXDX)

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