Ardelyx (ARDX) Given a $12.00 Price Target by Cantor Fitzgerald Analysts

Ardelyx (NASDAQ:ARDX) received a $12.00 price target from Cantor Fitzgerald in a research report issued on Wednesday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective indicates a potential upside of 70.21% from the stock’s previous close.

Several other research firms have also recently weighed in on ARDX. Ladenburg Thalmann Financial Services dropped their price target on shares of Ardelyx from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, November 22nd. BidaskClub raised shares of Ardelyx from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Leerink Swann reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Ardelyx in a research report on Tuesday, October 17th. Zacks Investment Research cut shares of Ardelyx from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Finally, Wedbush reaffirmed an “outperform” rating and set a $12.00 price objective (down previously from $13.00) on shares of Ardelyx in a research report on Tuesday, November 28th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $12.64.

Ardelyx (NASDAQ ARDX) traded down $0.10 during trading on Wednesday, hitting $7.05. 269,400 shares of the stock traded hands, compared to its average volume of 345,400. Ardelyx has a twelve month low of $4.05 and a twelve month high of $15.40. The stock has a market cap of $334.73, a PE ratio of -3.16 and a beta of 0.35.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.10. During the same quarter in the previous year, the firm posted ($0.65) earnings per share. analysts forecast that Ardelyx will post -2.01 earnings per share for the current year.

In related news, COO Reginald Seeto sold 10,008 shares of the stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $5.20, for a total transaction of $52,041.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 15.47% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Kennedy Capital Management Inc. acquired a new stake in Ardelyx during the 2nd quarter worth approximately $1,274,000. Dimensional Fund Advisors LP lifted its holdings in Ardelyx by 280.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 259,202 shares of the biopharmaceutical company’s stock worth $1,322,000 after buying an additional 191,121 shares in the last quarter. DAFNA Capital Management LLC lifted its holdings in Ardelyx by 68.4% during the 2nd quarter. DAFNA Capital Management LLC now owns 373,409 shares of the biopharmaceutical company’s stock worth $1,904,000 after buying an additional 151,671 shares in the last quarter. Axiom International Investors LLC DE lifted its holdings in Ardelyx by 65.6% during the 3rd quarter. Axiom International Investors LLC DE now owns 183,227 shares of the biopharmaceutical company’s stock worth $1,026,000 after buying an additional 72,573 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new stake in Ardelyx during the 2nd quarter worth approximately $248,000. 76.12% of the stock is owned by hedge funds and other institutional investors.

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Ardelyx Company 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.

Analyst Recommendations for Ardelyx (NASDAQ:ARDX)

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