Ignyta, Inc. Forecasted to Earn FY2017 Earnings of ($2.13) Per Share (RXDX)
Ignyta, Inc. (NASDAQ:RXDX) – SunTrust Banks issued their FY2017 earnings per share estimates for shares of Ignyta in a report released on Monday. SunTrust Banks analyst P. Lawson anticipates that the biopharmaceutical company will earn ($2.13) per share for the year. SunTrust Banks currently has a “Buy” rating on the stock. SunTrust Banks also issued estimates for Ignyta’s Q4 2017 earnings at ($0.44) EPS, Q1 2018 earnings at ($0.44) EPS, Q2 2018 earnings at ($0.45) EPS, Q3 2018 earnings at ($0.46) EPS, Q4 2018 earnings at ($0.47) EPS, FY2018 earnings at ($1.82) EPS, FY2019 earnings at ($1.44) EPS, FY2020 earnings at ($0.51) EPS and FY2021 earnings at $0.68 EPS.
Ignyta (NASDAQ:RXDX) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.51) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.03.
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A number of other equities research analysts also recently commented on RXDX. Zacks Investment Research upgraded 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. Cantor Fitzgerald set a $23.00 price objective on Ignyta and gave the company a “buy” rating in a report on Tuesday, November 14th. BidaskClub downgraded Ignyta from a “buy” rating to a “hold” rating in a report on Friday, July 28th. J P Morgan Chase & Co restated a “buy” rating and issued a $20.00 price target (up from $18.00) on shares of Ignyta in a report on Thursday, October 12th. Finally, Ladenburg Thalmann Financial Services increased their price target on Ignyta from $20.25 to $31.00 in a report on Wednesday, October 18th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $23.80.
Shares of Ignyta (NASDAQ:RXDX) opened at $16.10 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.07 and a quick ratio of 6.07. Ignyta has a fifty-two week low of $4.60 and a fifty-two week high of $18.30.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Cutter & CO Brokerage Inc. acquired a new stake in shares of Ignyta in the second quarter valued at approximately $122,000. Numeric Investors LLC bought a new position in shares of Ignyta during the second quarter worth approximately $126,000. Legal & General Group Plc increased its stake 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 purchasing an additional 5,306 shares during the period. Virtu KCG Holdings LLC bought a new position in shares of Ignyta during the second quarter worth approximately $132,000. Finally, Goldman Sachs Group Inc. bought a new position in shares of Ignyta during the first quarter worth approximately $133,000. 71.82% 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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