Ardelyx, Inc. (ARDX) Stake Boosted by Axiom International Investors LLC DE

Axiom International Investors LLC DE raised its stake in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 19.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,063 shares of the biopharmaceutical company’s stock after buying an additional 13,442 shares during the period. Axiom International Investors LLC DE’s holdings in Ardelyx were worth $1,051,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC increased its stake in shares of Ardelyx by 5.0% in the first quarter. Geode Capital Management LLC now owns 184,664 shares of the biopharmaceutical company’s stock valued at $2,335,000 after buying an additional 8,855 shares during the period. Vanguard Group Inc. increased its stake in shares of Ardelyx by 4.0% in the first quarter. Vanguard Group Inc. now owns 1,229,557 shares of the biopharmaceutical company’s stock valued at $15,554,000 after buying an additional 47,853 shares during the period. Marshall Wace North America L.P. bought a new stake in shares of Ardelyx during the first quarter valued at approximately $10,276,000. MARSHALL WACE ASIA Ltd bought a new stake in shares of Ardelyx during the first quarter valued at approximately $10,276,000. Finally, TIAA CREF Investment Management LLC increased its stake in Ardelyx by 9.6% in the first quarter. TIAA CREF Investment Management LLC now owns 99,143 shares of the biopharmaceutical company’s stock worth $1,254,000 after buying an additional 8,659 shares during the period. 83.61% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Ardelyx (NASDAQ:ARDX)

Ardelyx, Inc. (ARDX) remained flat at $4.65 on Tuesday. 423,402 shares of the company traded hands. Ardelyx, Inc. has a 52-week low of $4.05 and a 52-week high of $16.30. The company has a 50-day moving average of $7.22 and a 200-day moving average of $11.76. The company’s market cap is $220.34 million.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings data on Friday, May 5th. The biopharmaceutical company reported ($0.59) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.65) by $0.06. On average, analysts anticipate that Ardelyx, Inc. will post ($2.46) EPS for the current year.

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ARDX has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated a “buy” rating and issued a $12.00 price objective on shares of Ardelyx in a report on Wednesday, May 31st. Zacks Investment Research upgraded shares of Ardelyx from a “hold” rating to a “buy” rating and set a $6.75 target price on the stock in a report on Tuesday, May 23rd. BTIG Research reduced their price objective on shares of Ardelyx from $18.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, May 23rd. Citigroup Inc. reaffirmed a “buy” rating and set a $12.00 price objective (down from $17.00) on shares of Ardelyx in a research report on Monday, May 15th. Finally, ValuEngine cut shares of Ardelyx from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $14.13.

About Ardelyx

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.

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