Ardelyx Inc (NASDAQ:ARDX) has received an average recommendation of “Hold” from the six ratings firms that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $11.00.
Several equities research analysts have recently commented on ARDX shares. Leerink Swann set a $9.00 price target on 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 Ardelyx and gave the stock a “buy” rating in a research note on Thursday. ValuEngine raised Ardelyx from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 16th. BidaskClub lowered Ardelyx from a “hold” rating to a “sell” rating in a research note on Thursday. Finally, Zacks Investment Research raised Ardelyx from a “sell” rating to a “hold” rating in a research note on Tuesday, October 15th.
In related news, CFO Mark Kaufmann sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $4.56, for a total value of $91,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 30,874 shares of company stock worth $126,322. 15.31% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of ARDX. Renaissance Technologies LLC lifted its stake in shares of Ardelyx by 6.0% during the 2nd quarter. Renaissance Technologies LLC now owns 2,100,070 shares of the biopharmaceutical company’s stock worth $5,649,000 after purchasing an additional 118,468 shares during the period. Northern Trust Corp lifted its stake in shares of Ardelyx by 2.8% during the 2nd quarter. Northern Trust Corp now owns 530,420 shares of the biopharmaceutical company’s stock worth $1,427,000 after purchasing an additional 14,315 shares during the period. SG Americas Securities LLC purchased a new position in shares of Ardelyx during the 2nd quarter worth $69,000. D. E. Shaw & Co. Inc. lifted its stake in shares of Ardelyx by 16.1% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 809,476 shares of the biopharmaceutical company’s stock worth $2,177,000 after purchasing an additional 111,963 shares during the period. Finally, Citadel Advisors LLC purchased a new position in shares of Ardelyx during the 2nd quarter worth $37,000. 72.82% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:ARDX traded up $0.43 during trading on Monday, hitting $4.95. 429,960 shares of the stock were exchanged, compared to its average volume of 551,342. The company has a fifty day moving average price of $4.75 and a two-hundred day moving average price of $3.34. The company has a market cap of $290.77 million, a PE ratio of -3.06 and a beta of 1.76. The company has a current ratio of 7.79, a quick ratio of 7.79 and a debt-to-equity ratio of 0.77. Ardelyx has a 12-month low of $1.60 and a 12-month high of $6.78.
Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.41) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.02). The firm had revenue of $0.02 million during the quarter, compared to analyst estimates of $0.60 million. Equities research analysts anticipate that Ardelyx will post -1.56 earnings per share for the current fiscal year.
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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