State of Wisconsin Investment Board Takes $128,000 Position in Ardelyx, Inc. (ARDX)

State of Wisconsin Investment Board acquired a new stake in Ardelyx, Inc. (NASDAQ:ARDX) in the second quarter, according to its most recent filing with the SEC. The fund acquired 25,000 shares of the biopharmaceutical company’s stock, valued at approximately $128,000. State of Wisconsin Investment Board owned approximately 0.05% of Ardelyx at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in ARDX. Teachers Advisors LLC grew its stake in Ardelyx by 45.1% in the 4th quarter. Teachers Advisors LLC now owns 47,230 shares of the biopharmaceutical company’s stock valued at $671,000 after buying an additional 14,690 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Ardelyx by 4.8% in the 1st quarter. Bank of New York Mellon Corp now owns 145,916 shares of the biopharmaceutical company’s stock valued at $1,846,000 after buying an additional 6,647 shares in the last quarter. Parametric Portfolio Associates LLC purchased a new position in Ardelyx in the 1st quarter valued at approximately $320,000. Victory Capital Management Inc. purchased a new position in Ardelyx in the 1st quarter valued at approximately $851,000. Finally, American International Group Inc. grew its stake in Ardelyx by 43.8% in the 1st quarter. American International Group Inc. now owns 18,926 shares of the biopharmaceutical company’s stock valued at $239,000 after buying an additional 5,765 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Ardelyx, Inc. (ARDX) opened at 5.30 on Friday. The firm has a 50-day moving average of $5.06 and a 200 day moving average of $8.15. The company’s market capitalization is $251.46 million. Ardelyx, Inc. has a one year low of $4.05 and a one year high of $16.30.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.63) by $0.09. On average, equities analysts forecast that Ardelyx, Inc. will post ($2.19) EPS for the current fiscal year.

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A number of research analysts recently weighed in on ARDX shares. BTIG Research reduced their price objective on shares of Ardelyx from $18.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, May 23rd. Cantor Fitzgerald reiterated a “buy” rating on shares of Ardelyx in a research note on Monday, August 28th. Zacks Investment Research lowered shares of Ardelyx from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. ValuEngine lowered shares of Ardelyx from a “sell” rating to a “strong sell” rating in a research note on Friday, June 2nd. Finally, BidaskClub upgraded shares of Ardelyx from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $14.13.

Ardelyx Profile

Ardelyx, Inc is a clinical-stage biopharmaceutical company. The Company’s therapeutics focuses on addressing cardiorenal and gastrointestinal (GI) diseases. It operates through the research, development and commercialization of biopharmaceutical products segment. The Company’s products line includes cardiorenal portfolio and gastrointestinal portfolio.

Institutional Ownership by Quarter for Ardelyx (NASDAQ:ARDX)

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