ADARx Pharmaceuticals (NASDAQ:ADRX) Announces Earnings Results, Misses Expectations By $1.34 EPS

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

ADARx Pharmaceuticals Trading Up 12.1%

Shares of ADRX traded up $1.61 during mid-day trading on Thursday, reaching $14.91. The stock had a trading volume of 994,880 shares, compared to its average volume of 546,752. ADARx Pharmaceuticals has a 12 month low of $12.50 and a 12 month high of $23.21.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on ADRX shares. Morgan Stanley began coverage on ADARx Pharmaceuticals in a research report on Tuesday, October 20th. They issued an “overweight” rating and a $32.00 target price on the stock. JPMorgan Chase & Co. began coverage on shares of ADARx Pharmaceuticals in a research note on Tuesday, October 20th. They issued an “overweight” rating and a $38.00 price objective on the stock. Zacks Research raised shares of ADARx Pharmaceuticals to a “hold” rating in a report on Wednesday, October 21st. UBS Group began coverage on shares of ADARx Pharmaceuticals in a research report on Tuesday, October 20th. They set a “buy” rating and a $35.00 target price for the company. Finally, TD Cowen assumed coverage on shares of ADARx Pharmaceuticals in a report on Tuesday, October 20th. They set a “buy” rating for the company. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, ADARx Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Insider Transactions at ADARx Pharmaceuticals

In other news, Director Simeon George bought 1,600,000 shares of the stock in a transaction that occurred on Monday, September 28th. The shares were bought at an average price of $17.00 per share, for a total transaction of $27,200,000.00. Following the purchase, the director owned 5,554,094 shares in the company, valued at $94,419,598. This represents a 40.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Sr One Capital Management, Llc bought 1,600,000 shares of the company’s stock in a transaction that occurred on 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 acquisition, the insider directly owned 5,554,094 shares in the company, valued at $94,419,598. This trade represents a 40.46% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought a total of 3,261,516 shares of company stock valued at $55,445,772 over the last three months.

ADARx Pharmaceuticals Company Profile

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.