Piper Jaffray Initiates Ignyta With Overweight

Analysts at Piper Jaffray initiated coverage on

with a Overweight rating. The target price for Ignyta is set to $34. Ignyta shares have jumped 112.58 percent over the past 52 weeks, while the S&P 500 index has gained 7.51 percent in the same period. Ignyta shares closed at $16.73 on Friday.