ADARx Pharmaceuticals (NASDAQ:ADRX) Stock Picked Up by Analysts at JPMorgan Chase & Co.

Investment analysts at JPMorgan Chase & Co. assumed coverage on shares of ADARx Pharmaceuticals (NASDAQ:ADRX) in a research note issued to investors on Tuesday, Briefing.com reports. The brokerage set an “overweight” rating and a $38.00 price target on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 115.54% from the company’s previous close.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley initiated coverage on shares of ADARx Pharmaceuticals in a research note on Tuesday. They set an “overweight” rating and a $32.00 target price for the company. TD Cowen started coverage on ADARx Pharmaceuticals in a research report on Tuesday. They issued a “buy” rating on the stock. Wall Street Zen raised ADARx Pharmaceuticals to a “hold” rating in a research note on Saturday, October 3rd. Finally, UBS Group initiated coverage on ADARx Pharmaceuticals in a research note on Tuesday. They set a “buy” rating and a $35.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $35.00.

ADARx Pharmaceuticals Price Performance

NASDAQ ADRX opened at $17.63 on Tuesday. ADARx Pharmaceuticals has a one year low of $16.64 and a one year high of $23.21.

Insider Buying and Selling at ADARx Pharmaceuticals

In other news, Director Erez Chimovits bought 61,516 shares of ADARx Pharmaceuticals stock in a transaction dated Monday, September 28th. The stock was bought at an average price of $17.00 per share, for a total transaction of $1,045,772.00. Following the purchase, the director owned 9,292,025 shares of the company’s stock, valued at approximately $157,964,425. The trade was a 0.67% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Sr One Capital Management, Llc bought 1,600,000 shares of the stock in a transaction dated Monday, September 28th. The stock was purchased at an average cost of $17.00 per share, for a total transaction of $27,200,000.00. Following the acquisition, the insider owned 5,554,094 shares of the company’s stock, valued at approximately $94,419,598. This represents a 40.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last three months, insiders have bought 3,261,516 shares of company stock valued at $55,445,772.

About ADARx Pharmaceuticals

ADARx Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that target disease-driving proteins through RNA-based technologies. The company’s platform is designed to support potent and durable control of protein production, with the goal of creating therapies that may be administered less frequently than conventional treatments.

ADARx is advancing a pipeline of investigational therapeutics for conditions involving the kallikrein-kinin and complement pathways, which are implicated in hereditary angioedema and other immune-mediated or inflammatory diseases.