BidaskClub downgraded shares of Ardelyx (NASDAQ:ARDX) from a buy rating to a hold rating in a research report report published on Friday.

A number of other brokerages have also commented on ARDX. Ladenburg Thalmann Financial Services decreased their price target on shares of Ardelyx from $19.00 to $16.00 and set a buy rating on the stock in a report on Wednesday, November 22nd. Leerink Swann reissued an outperform rating and issued a $13.00 price target on shares of Ardelyx in a report on Tuesday, October 17th. Zacks Investment Research lowered shares of Ardelyx from a hold rating to a sell rating in a report on Tuesday, October 17th. Cantor Fitzgerald set a $12.00 price target on shares of Ardelyx and gave the stock a buy rating in a report on Tuesday, November 28th. Finally, ValuEngine lowered shares of Ardelyx from a sell rating to a strong sell rating in a report on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $12.93.

Shares of Ardelyx (NASDAQ:ARDX) opened at $6.25 on Friday. The firm has a market cap of $296.53, a P/E ratio of -2.80 and a beta of 0.44. Ardelyx has a twelve month low of $4.05 and a twelve month high of $15.40.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.44) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.54) by $0.10. During the same quarter in the prior year, the business posted ($0.65) earnings per share. equities analysts predict that Ardelyx will post -2.01 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC grew its holdings in shares of Ardelyx by 8.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 27,581 shares of the biopharmaceutical company’s stock valued at $141,000 after purchasing an additional 2,252 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Ardelyx by 18.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,252 shares of the biopharmaceutical company’s stock valued at $159,000 after purchasing an additional 4,871 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Ardelyx by 15.6% during the 2nd quarter. Rhumbline Advisers now owns 40,516 shares of the biopharmaceutical company’s stock valued at $207,000 after purchasing an additional 5,465 shares during the last quarter. Teachers Advisors LLC grew its holdings in shares of Ardelyx by 2.5% during the 2nd quarter. Teachers Advisors LLC now owns 314,562 shares of the biopharmaceutical company’s stock valued at $1,604,000 after purchasing an additional 7,627 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Ardelyx by 17.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 61,139 shares of the biopharmaceutical company’s stock valued at $312,000 after purchasing an additional 9,219 shares during the last quarter. 74.87% of the stock is currently owned by institutional investors.

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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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