Ignyta, Inc. (NASDAQ:RXDX) – Jefferies Group dropped their FY2021 earnings per share estimates for shares of Ignyta in a research report issued to clients and investors on Wednesday. Jefferies Group analyst M. Raycroft now forecasts that the biopharmaceutical company will post earnings per share of $1.84 for the year, down from their previous estimate of $2.02. Jefferies Group currently has a “Buy” rating and a $27.00 target price on the stock.
Other equities analysts also recently issued research reports about the stock. BidaskClub downgraded shares of Ignyta from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Cantor Fitzgerald set a $15.00 price objective on shares of Ignyta and gave the company a “buy” rating in a research note on Monday, July 10th. Zacks Investment Research raised shares of Ignyta from a “sell” rating to a “hold” rating in a research note on Tuesday, May 30th. Finally, ValuEngine raised shares of Ignyta from a “sell” rating to a “hold” rating in a research note on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $17.33.
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Ignyta (NASDAQ RXDX) traded down 1.05% on Friday, hitting $9.40. 452,782 shares of the stock were exchanged. Ignyta has a 1-year low of $4.15 and a 1-year high of $11.45. The company has a 50-day moving average price of $9.83 and a 200 day moving average price of $8.38. The company’s market capitalization is $528.78 million.
Ignyta (NASDAQ:RXDX) last posted its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.56) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.07.
Several institutional investors have recently added to or reduced their stakes in RXDX. Vanguard Group Inc. increased its position in Ignyta by 10.4% in the first quarter. Vanguard Group Inc. now owns 1,228,177 shares of the biopharmaceutical company’s stock valued at $10,562,000 after buying an additional 115,212 shares during the last quarter. Frazier Management LLC increased its position in Ignyta by 2.5% in the first quarter. Frazier Management LLC now owns 973,693 shares of the biopharmaceutical company’s stock valued at $8,374,000 after buying an additional 23,327 shares during the last quarter. TIAA CREF Investment Management LLC increased its position 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 valued at $1,104,000 after buying an additional 3,611 shares during the last quarter. Neuberger Berman Group LLC acquired a new position in Ignyta during the first quarter valued at about $366,000. Finally, American International Group Inc. increased its position in Ignyta by 7.1% in the first quarter. American International Group Inc. now owns 18,148 shares of the biopharmaceutical company’s stock valued at $156,000 after buying an additional 1,197 shares during the last quarter. 52.96% of the stock is owned by hedge funds and other institutional investors.
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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