Ardelyx Inc (NASDAQ:ARDX) Given Consensus Rating of “Hold” by Analysts

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Ardelyx Inc (NASDAQ:ARDX) has earned a consensus rating of “Hold” from the seven analysts that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $11.00.

A number of brokerages recently issued reports on ARDX. Zacks Investment Research upgraded shares of Ardelyx from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Jefferies Financial Group upped their price target on shares of Ardelyx from $6.00 to $11.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Leerink Swann set a $9.00 price target on shares of Ardelyx and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Piper Jaffray Companies set a $15.00 price target on shares of Ardelyx and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, ValuEngine cut shares of Ardelyx from a “sell” rating to a “strong sell” rating in a research note on Wednesday, December 4th.

NASDAQ:ARDX opened at $7.00 on Tuesday. The firm’s 50-day moving average price is $6.21 and its 200-day moving average price is $4.11. The company has a market capitalization of $470.48 million, a PE ratio of -4.32 and a beta of 1.78. The company has a debt-to-equity ratio of 1.07, a current ratio of 6.27 and a quick ratio of 6.27. Ardelyx has a 1-year low of $1.60 and a 1-year high of $8.31.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of ($0.37). The firm had revenue of $3.01 million during the quarter. Equities analysts anticipate that Ardelyx will post -1.54 EPS for the current fiscal year.

In other Ardelyx news, EVP Elizabeth A. Grammer sold 5,000 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $6.80, for a total transaction of $34,000.00. Also, CFO Mark Kaufmann sold 20,000 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $4.56, for a total transaction of $91,200.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,000 shares of company stock worth $160,200. 15.31% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of ARDX. Jane Street Group LLC bought a new position in Ardelyx during the 2nd quarter valued at about $29,000. Citadel Advisors LLC bought a new position in Ardelyx during the 2nd quarter valued at about $37,000. SG Americas Securities LLC bought a new position in Ardelyx during the 2nd quarter valued at about $69,000. Metropolitan Life Insurance Co NY bought a new position in Ardelyx during the 3rd quarter valued at about $86,000. Finally, Tower Research Capital LLC TRC bought a new position in Ardelyx during the 3rd quarter valued at about $87,000. Institutional investors and hedge funds own 77.17% of the company’s stock.

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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