ADARx Pharmaceuticals (NASDAQ:ADRX) Issues Quarterly Earnings Results, Misses Estimates By $1.34 EPS

ADARx Pharmaceuticals (NASDAQ:ADRX) released its earnings results on Thursday. The company reported ($1.74) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($1.34), Zacks reports.

ADARx Pharmaceuticals Stock Up 12.1%

Shares of NASDAQ ADRX traded up $1.61 during mid-day trading on Thursday, hitting $14.91. The stock had a trading volume of 994,875 shares, compared to its average volume of 546,752. ADARx Pharmaceuticals has a 1 year low of $12.50 and a 1 year high of $23.21.

Insider Buying and Selling at ADARx Pharmaceuticals

In other news, Director Simeon George acquired 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, with a total value of $27,200,000.00. Following the completion of the purchase, the director owned 5,554,094 shares in the company, valued at approximately $94,419,598. The trade was a 40.46% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Sr One Capital Management, Llc bought 1,600,000 shares of the company’s stock in a transaction dated Monday, September 28th. The shares were purchased at an average price of $17.00 per share, with a total value of $27,200,000.00. Following the completion of the acquisition, the insider owned 5,554,094 shares of the company’s stock, valued at $94,419,598. This trade represents a 40.46% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought 3,261,516 shares of company stock valued at $55,445,772 in the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ADRX. Morgan Stanley started coverage on ADARx Pharmaceuticals in a research note on Tuesday, October 20th. They set an “overweight” rating and a $32.00 price target for the company. TD Cowen initiated coverage on shares of ADARx Pharmaceuticals in a report on Tuesday, October 20th. They set a “buy” rating on the stock. JPMorgan Chase & Co. started coverage on shares of ADARx Pharmaceuticals in a research report on Tuesday, October 20th. They issued an “overweight” rating and a $38.00 target price on the stock. UBS Group started coverage on shares of ADARx Pharmaceuticals in a research note on Tuesday, October 20th. They issued a “buy” rating and a $35.00 price target for the company. Finally, Wall Street Zen upgraded shares of ADARx Pharmaceuticals to a “hold” rating in a research report on Saturday, October 3rd. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $35.00.

About ADARx Pharmaceuticals

ADARx Pharmaceuticals is a clinical-stage biopharmaceutical company developing RNA-targeted medicines for serious diseases. Its research focuses on oligonucleotide therapeutics designed to alter the activity of specific RNA molecules and, in turn, address disease-related gene expression. The company’s pipeline includes investigational candidates for conditions such as hereditary angioedema and complement-mediated diseases. These therapies remain in development and have not been established as approved treatments.