Shares of Ardelyx, Inc. (NASDAQ:ARDX – Get Free Report) have been assigned a consensus rating of “Buy” from the nine research firms that are presently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $12.81.
A number of brokerages have recently issued reports on ARDX. Wedbush reiterated an “outperform” rating and set a $15.00 price target on shares of Ardelyx in a research note on Friday. Piper Sandler reiterated an “overweight” rating and set a $15.00 price target on shares of Ardelyx in a research note on Friday. StockNews.com lowered shares of Ardelyx from a “hold” rating to a “sell” rating in a research note on Tuesday, May 21st. Citigroup boosted their price target on shares of Ardelyx from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of Ardelyx in a research note on Friday, April 5th.
Read Our Latest Report on ARDX
Insider Buying and Selling at Ardelyx
Hedge Funds Weigh In On Ardelyx
Several institutional investors and hedge funds have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its position in Ardelyx by 37.1% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 57,425 shares of the biopharmaceutical company’s stock worth $234,000 after purchasing an additional 15,554 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Ardelyx by 326.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 133,067 shares of the biopharmaceutical company’s stock worth $543,000 after purchasing an additional 101,850 shares during the last quarter. Teacher Retirement System of Texas increased its position in Ardelyx by 8.0% during the third quarter. Teacher Retirement System of Texas now owns 60,357 shares of the biopharmaceutical company’s stock worth $246,000 after purchasing an additional 4,452 shares during the last quarter. PFG Investments LLC increased its position in shares of Ardelyx by 8.2% in the third quarter. PFG Investments LLC now owns 162,150 shares of the biopharmaceutical company’s stock worth $662,000 after acquiring an additional 12,350 shares in the last quarter. Finally, Arizona State Retirement System raised its stake in shares of Ardelyx by 5.3% in the 3rd quarter. Arizona State Retirement System now owns 61,064 shares of the biopharmaceutical company’s stock valued at $249,000 after acquiring an additional 3,064 shares during the period. Hedge funds and other institutional investors own 58.92% of the company’s stock.
Ardelyx Trading Down 9.3 %
NASDAQ ARDX opened at $6.75 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.36 and a current ratio of 4.53. The firm has a market cap of $1.57 billion, a PE ratio of -24.11 and a beta of 0.87. Ardelyx has a one year low of $3.16 and a one year high of $10.13. The firm’s fifty day moving average is $7.38 and its two-hundred day moving average is $7.25.
Ardelyx (NASDAQ:ARDX – Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The company had revenue of $46.00 million for the quarter, compared to analyst estimates of $36.40 million. Ardelyx had a negative net margin of 41.36% and a negative return on equity of 41.65%. Ardelyx’s quarterly revenue was up 303.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.13) earnings per share. Analysts expect that Ardelyx will post -0.36 earnings per share for the current year.
Ardelyx Company Profile
Ardelyx, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines to treat gastrointestinal and cardiorenal therapeutic areas in the United States and internationally. The company's lead product candidate is tenapanor for the treatment of patients with irritable bowel syndrome with constipation.
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