Ardelyx Inc (NASDAQ:ARDX) has been given a consensus recommendation of “Buy” by the eight ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $16.50.

Several research firms have weighed in on ARDX. ValuEngine lowered Ardelyx from a “sell” rating to a “strong sell” rating in a report on Friday, June 2nd. Cantor Fitzgerald restated a “buy” rating and set a $12.00 target price on shares of Ardelyx in a report on Wednesday, May 31st. Zacks Investment Research lowered Ardelyx from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. BTIG Research cut their target price on Ardelyx from $18.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, May 23rd. Finally, BidaskClub upgraded Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd.

Several institutional investors have recently bought and sold shares of the company. ClariVest Asset Management LLC increased its stake in shares of Ardelyx by 1.1% in the first quarter. ClariVest Asset Management LLC now owns 37,900 shares of the biopharmaceutical company’s stock worth $480,000 after purchasing an additional 400 shares during the period. Alliancebernstein L.P. increased its stake in shares of Ardelyx by 7.9% in the first quarter. Alliancebernstein L.P. now owns 13,700 shares of the biopharmaceutical company’s stock worth $173,000 after purchasing an additional 1,000 shares during the period. Parametric Portfolio Associates LLC increased its stake in shares of Ardelyx by 8.9% in the second quarter. Parametric Portfolio Associates LLC now owns 27,581 shares of the biopharmaceutical company’s stock worth $141,000 after purchasing an additional 2,252 shares during the period. Bank of America Corp DE increased its stake in shares of Ardelyx by 52.6% in the first quarter. Bank of America Corp DE now owns 10,612 shares of the biopharmaceutical company’s stock worth $134,000 after purchasing an additional 3,659 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Ardelyx by 18.5% in the second quarter. The Manufacturers Life Insurance Company now owns 31,252 shares of the biopharmaceutical company’s stock worth $159,000 after purchasing an additional 4,871 shares during the period. Institutional investors and hedge funds own 78.58% of the company’s stock.

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Ardelyx (NASDAQ:ARDX) traded up 5.61% during trading on Friday, reaching $5.65. The company had a trading volume of 341,177 shares. Ardelyx has a 52-week low of $4.05 and a 52-week high of $16.30. The stock’s market cap is $268.06 million. The company has a 50-day moving average price of $5.09 and a 200 day moving average price of $8.45.

Ardelyx (NASDAQ:ARDX) last posted its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.54) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.09. On average, analysts anticipate that Ardelyx will post ($2.19) earnings per share for the current year.

Ardelyx Company Profile

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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