Ardelyx (ARDX) Upgraded at BidaskClub

BidaskClub upgraded shares of Ardelyx (NASDAQ:ARDX) from a hold rating to a buy rating in a research report released on Wednesday morning.

ARDX has been the subject of several other research reports. Zacks Investment Research downgraded Ardelyx from a hold rating to a sell rating in a research note on Tuesday, October 17th. Leerink Swann reiterated an outperform rating and set a $13.00 price target on shares of Ardelyx in a research note on Tuesday, October 17th. Cantor Fitzgerald set a $12.00 price target on Ardelyx and gave the stock a buy rating in a research note on Tuesday, November 28th. Citigroup increased their price target on Ardelyx from $14.00 to $19.00 and gave the stock a buy rating in a research note on Thursday, October 12th. Finally, Ladenburg Thalmann Financial Services cut their price target on Ardelyx from $19.00 to $16.00 and set a buy rating for the company in a research note on Wednesday, November 22nd. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. The company presently has an average rating of Buy and an average target price of $12.64.

Ardelyx (ARDX) opened at $6.60 on Wednesday. The stock has a market capitalization of $316.11, a price-to-earnings ratio of -2.96 and a beta of 0.35. Ardelyx has a 12 month low of $4.05 and a 12 month high of $15.40.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.10. During the same period in the prior year, the company posted ($0.65) earnings per share. equities analysts forecast that Ardelyx will post -2.01 earnings per share for the current year.

In other news, COO Reginald Seeto sold 10,008 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $5.20, for a total transaction of $52,041.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.47% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in Ardelyx by 64.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 426,543 shares of the biopharmaceutical company’s stock worth $2,389,000 after purchasing an additional 167,341 shares during the period. Axiom International Investors LLC DE boosted its stake in Ardelyx by 65.6% in the 3rd quarter. Axiom International Investors LLC DE now owns 183,227 shares of the biopharmaceutical company’s stock worth $1,026,000 after purchasing an additional 72,573 shares during the period. Citadel Advisors LLC boosted its stake in Ardelyx by 20.6% in the 3rd quarter. Citadel Advisors LLC now owns 58,526 shares of the biopharmaceutical company’s stock worth $328,000 after purchasing an additional 9,986 shares during the period. Sei Investments Co. boosted its stake in Ardelyx by 2,039.8% in the 3rd quarter. Sei Investments Co. now owns 13,395 shares of the biopharmaceutical company’s stock worth $750,000 after purchasing an additional 12,769 shares during the period. Finally, IndexIQ Advisors LLC boosted its stake in Ardelyx by 83.1% in the 3rd quarter. IndexIQ Advisors LLC now owns 68,517 shares of the biopharmaceutical company’s stock worth $384,000 after purchasing an additional 31,104 shares during the period. Institutional investors and hedge funds own 76.12% of the company’s stock.

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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.

Analyst Recommendations for Ardelyx (NASDAQ:ARDX)

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