Ignyta Inc (NASDAQ:RXDX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday, MarketBeat.Com reports.

According to Zacks, “Ignyta, Inc. is a biotechnology company. It develops precision medicine with integrated Rx/Dx solutions for cancer patients. The company focuses on the development of RXDX-101, its proprietary oral tyrosine kinase inhibitor that targets solid tumor indications, and advancing its novel Spark discovery programs that leverage its proprietary cancer genomic and epigenomic knowledge bases. Ignyta, Inc. is based in San Diego, California. “

Other research analysts also recently issued research reports about the stock. Cantor Fitzgerald initiated coverage on shares of Ignyta in a report on Monday, November 9th. They set a “buy” rating on the stock. Jefferies Group initiated coverage on shares of Ignyta in a report on Thursday, October 22nd. They set a “buy” rating and a $18.00 price objective on the stock. Piper Jaffray restated a “buy” rating on shares of Ignyta in a report on Monday, September 28th. Credit Suisse initiated coverage on shares of Ignyta in a report on Wednesday, January 20th. They set an “outperform” rating and a $19.00 price objective on the stock. Finally, Leerink Swann restated an “outperform” rating and set a $16.00 price objective on shares of Ignyta in a report on Thursday, December 17th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $22.20.

Ignyta (NASDAQ:RXDX) opened at 10.27 on Monday. The stock’s 50 day moving average is $12.46 and its 200 day moving average is $12.95. Ignyta has a 12-month low of $6.59 and a 12-month high of $19.40. The stock’s market capitalization is $304.19 million.

Ignyta (NASDAQ:RXDX) last released its quarterly earnings data on Monday, November 9th. The biopharmaceutical company reported ($0.49) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.60) by $0.11. Analysts forecast that Ignyta will post ($2.40) EPS for the current year.

Ignyta, Inc. is a development-stage biopharmaceutical company. The Company is focused on discovering or acquiring, then developing and commercializing targeted drugs for cancer patients whose tumors harbor specific molecular alterations. As of March 7, 2014, its development plans were focused on two product candidates: RXDX-101 and RXDX-102. The Company also has three discovery-stage programs, Spark-1, Spark-2 and Spark-3, directed to oncology targets identified through mining of its database of information from tumor samples, called Oncolome. On October 31, 2013, IGAS Acquisition Corp, a wholly owned subsidiary of the Company, merged with and into Ignyta Operating, Inc. (NASDAQ:RXDX), and Ignyta Operating survived the merger and became the wholly owned subsidiary of the Company.

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