Ardelyx Inc. (NASDAQ:ARDX) has earned an average rating of “Buy” from the ten ratings firms that are presently covering the firm. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $22.17.
A number of equities research analysts have recently weighed in on ARDX shares. Citigroup Inc. dropped their price target on Ardelyx from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, August 10th. Zacks Investment Research upgraded Ardelyx from a “sell” rating to a “hold” rating in a research note on Tuesday, June 14th. Wedbush restated an “outperform” rating and set a $24.00 price target on shares of Ardelyx in a research note on Thursday, June 23rd. Leerink Swann restated a “buy” rating on shares of Ardelyx in a research note on Thursday, June 23rd. Finally, Cantor Fitzgerald restated a “buy” rating on shares of Ardelyx in a research note on Wednesday, June 22nd.
In other Ardelyx news, SVP Elizabeth A. Grammer sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $12.00, for a total value of $60,000.00. Following the completion of the transaction, the senior vice president now directly owns 1,440 shares of the company’s stock, valued at $17,280. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Nea 15 Gp, Llc purchased 1,527,301 shares of the firm’s stock in a transaction on Monday, July 18th. The stock was bought at an average cost of $8.73 per share, with a total value of $13,333,337.73. The disclosure for this purchase can be found here. 15.46% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in ARDX. Bank of New York Mellon Corp increased its position in shares of Ardelyx by 11.7% in the second quarter. Bank of New York Mellon Corp now owns 99,099 shares of the biopharmaceutical company’s stock worth $865,000 after buying an additional 10,398 shares during the last quarter. ClariVest Asset Management LLC increased its position in shares of Ardelyx by 5.6% in the second quarter. ClariVest Asset Management LLC now owns 34,100 shares of the biopharmaceutical company’s stock worth $298,000 after buying an additional 1,800 shares during the last quarter. Deerfield Management Co. bought a new position in shares of Ardelyx during the first quarter worth about $2,137,000. Metropolitan Life Insurance Co. NY increased its position in shares of Ardelyx by 57.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 19,529 shares of the biopharmaceutical company’s stock worth $152,000 after buying an additional 7,103 shares during the last quarter. Finally, Sabby Management LLC bought a new position in shares of Ardelyx during the first quarter worth about $173,000. 62.84% of the stock is owned by institutional investors.
Ardelyx (NASDAQ:ARDX) opened at 12.94 on Monday. The firm has a 50-day moving average of $10.95 and a 200-day moving average of $9.16. The stock’s market cap is $611.41 million. Ardelyx has a 1-year low of $6.36 and a 1-year high of $21.27.
Ardelyx (NASDAQ:ARDX) last posted its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by $0.08. Analysts expect that Ardelyx will post ($3.03) EPS for the current fiscal year.
Ardelyx Company Profile
Ardelyx, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of minimally systemic therapeutic drugs that work in the gastrointestinal (GI) tract to treat GI and cardio-renal diseases. The Company operates through research, development and commercialization of biopharmaceutical products segment.
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