Ignyta (RXDX): Cutting PT to $20 - Piper Jaffray
- Netflix, Inc. (NFLX) Tops Q4 EPS by 1c; Subs Beat Views
- S&P 500 ends up slightly with boost from financials; Netflix up late
- Nestle Said Examining Takeover of Mead Johnson (MJN) - Source
- La Quinta Holdings (LQ) Gains on Plan to Split in Two
- After-Hours Stock Movers 01/18: (OCLR) (CSX) (NFLX) Higher; (AMDA) (RCII) (ZYNE) Lower (more...)
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Piper Jaffray analyst, Joshua Schimmer, reiterated his Overweight rating on shares of Ignyta, Inc (NASDAQ: RXDX) after the company reported 2Q16 results and provided updates on the major clinical programs, including its TRK/ROS1/ALK inhibitor, entrectinib.
Data updates for entrectinib and RXDX-105 are expected in 4Q16 along with an interim look at the registration, enabling a STAR-TRK2 trial in 2Q17, but he ultimately believes that sooner or later investors will come to appreciate the value in RXDX's pipeline and strategy.
Despite the analyst's positive outlook, he reduced his price target to $20 from $32 which still reflects substantial upside.
Shares of Ignyta, Inc closed at $5.78 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Target (TGT) PT, Estimates Cut at Buckingham Research Following Miss
- Wedbush Remains Bullish on Nexstar Broadcasting (NXST) - PT to $75
- UBS Downgrades Dynegy (DYN) to Sell
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesPiper Jaffray, Joshua Schimmer
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!