Ardelyx Inc (NASDAQ:ARDX) was up 10.3% on Tuesday . The stock traded as high as $7.16 and last traded at $7.08, approximately 1,461,900 shares changed hands during mid-day trading. An increase of 211% from the average daily volume of 469,374 shares. The stock had previously closed at $6.42.
Several equities research analysts have recently weighed in on ARDX shares. BidaskClub upgraded Ardelyx from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. ValuEngine downgraded Ardelyx from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 22nd. Leerink Swann set a $9.00 price target on Ardelyx and gave the stock a “buy” rating in a report on Tuesday, September 24th. Zacks Investment Research raised Ardelyx from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Svb Leerink increased their price objective on Ardelyx from $8.00 to $9.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $8.81.
The company has a market cap of $386.26 million, a P/E ratio of -4.37 and a beta of 1.65. The firm has a 50 day moving average of $5.08 and a 200-day moving average of $3.65. The company has a quick ratio of 6.27, a current ratio of 6.27 and a debt-to-equity ratio of 1.07.
Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings data on Wednesday, November 6th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.37). The firm had revenue of $3.01 million during the quarter. On average, research analysts predict that Ardelyx Inc will post -1.55 EPS for the current fiscal year.
In related news, CFO Mark Kaufmann sold 20,000 shares of the 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 15.31% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in ARDX. SG Americas Securities LLC bought a new position in Ardelyx in the second quarter worth approximately $69,000. Bank of New York Mellon Corp grew its stake in Ardelyx by 9.5% in the second quarter. Bank of New York Mellon Corp now owns 185,219 shares of the biopharmaceutical company’s stock worth $498,000 after purchasing an additional 16,049 shares in the last quarter. Renaissance Technologies LLC grew its stake in Ardelyx by 6.0% in the second 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 in the last quarter. Northern Trust Corp boosted its position in Ardelyx by 2.8% during the 2nd quarter. Northern Trust Corp now owns 530,420 shares of the biopharmaceutical company’s stock valued at $1,427,000 after acquiring an additional 14,315 shares in the last quarter. Finally, BlackRock Inc. boosted its position in Ardelyx by 7.4% during the 2nd quarter. BlackRock Inc. now owns 3,627,433 shares of the biopharmaceutical company’s stock valued at $9,758,000 after acquiring an additional 249,537 shares in the last quarter. 72.16% of the stock is currently owned by institutional investors.
Ardelyx Company Profile (NASDAQ:ARDX)
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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