Ardelyx Inc (NASDAQ:ARDX) Receives Average Rating of “Hold” from Analysts

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Ardelyx Inc (NASDAQ:ARDX) has earned a consensus recommendation of “Hold” from the six brokerages that are covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $11.00.

Several research analysts have weighed in on ARDX shares. Zacks Investment Research lowered shares of Ardelyx from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. Piper Jaffray Companies started coverage on shares of Ardelyx in a research report on Monday, April 8th. They set an “overweight” rating and a $15.00 target price on the stock. Finally, ValuEngine lowered shares of Ardelyx from a “hold” rating to a “sell” rating in a research report on Monday, May 13th.

In other news, CEO Michael Raab sold 10,054 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $2.54, for a total value of $25,537.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders have sold 18,787 shares of company stock worth $47,753 over the last 90 days. 15.31% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in ARDX. BNP Paribas Arbitrage SA boosted its position in Ardelyx by 297.1% during the first quarter. BNP Paribas Arbitrage SA now owns 9,289 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 6,950 shares during the last quarter. HRT Financial LLC acquired a new stake in Ardelyx during the fourth quarter worth approximately $29,000. Bank of New York Mellon Corp boosted its position in Ardelyx by 11.4% during the fourth quarter. Bank of New York Mellon Corp now owns 166,596 shares of the biopharmaceutical company’s stock worth $298,000 after acquiring an additional 16,993 shares during the last quarter. Rhumbline Advisers boosted its position in Ardelyx by 61.6% during the fourth quarter. Rhumbline Advisers now owns 59,522 shares of the biopharmaceutical company’s stock worth $107,000 after acquiring an additional 22,686 shares during the last quarter. Finally, Bailard Inc. acquired a new stake in Ardelyx during the first quarter worth approximately $65,000. Institutional investors and hedge funds own 73.54% of the company’s stock.

ARDX traded up $0.09 on Friday, hitting $2.59. 2,323 shares of the company were exchanged, compared to its average volume of 142,884. The company has a quick ratio of 7.41, a current ratio of 7.41 and a debt-to-equity ratio of 0.58. The business has a fifty day moving average price of $2.78. Ardelyx has a fifty-two week low of $1.60 and a fifty-two week high of $4.70. The firm has a market capitalization of $156.50 million, a price-to-earnings ratio of -1.59 and a beta of 2.01.

Ardelyx (NASDAQ:ARDX) last issued its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.03). On average, sell-side analysts predict that Ardelyx will post -1.52 earnings per share for the current fiscal year.

Ardelyx Company Profile

Ardelyx, Inc, a specialized biopharmaceutical company, develops and sells medicines for the treatment of cardio renal diseases in the United States and internationally. The company's lead product candidate is tenapanor, which has completed Phase III clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase III clinical trial for the treatment of hyperphosphatemia in end-stage renal disease patients on dialysis.

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