ADARx Pharmaceuticals (NASDAQ:ADRX) Upgraded to “Hold” at Zacks Research

ADARx Pharmaceuticals (NASDAQ:ADRX) was upgraded by research analysts at Zacks Research to a “hold” rating in a note issued to investors on Wednesday, Zacks reports.

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

ADARx Pharmaceuticals Stock Up 3.2%

Shares of ADRX opened at $17.68 on Wednesday. ADARx Pharmaceuticals has a 1 year low of $16.61 and a 1 year high of $23.21.

Insiders Place Their Bets

In other news, major shareholder Sr One Capital Management, Llc bought 1,600,000 shares of the stock in a transaction dated Monday, September 28th. The shares were bought at an average cost of $17.00 per share, with a total value of $27,200,000.00. Following the completion of the transaction, the insider directly owned 5,554,094 shares of the company’s stock, valued at $94,419,598. This trade represents a 40.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Erez Chimovits bought 61,516 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The stock was purchased at an average price of $17.00 per share, for a total transaction of $1,045,772.00. Following the completion of the acquisition, the director owned 9,292,025 shares in the company, valued at $157,964,425. This represents a 0.67% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have bought 3,261,516 shares of company stock worth $55,445,772.

ADARx Pharmaceuticals Company Profile

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.