Ardelyx Inc (NASDAQ:ARDX) Receives $11.00 Consensus PT from Brokerages
Shares of Ardelyx Inc (NASDAQ:ARDX) have received an average recommendation of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $11.00.
ARDX has been the subject of several research analyst reports. Piper Jaffray Companies set a $15.00 target price on shares of Ardelyx and gave the company a “buy” rating in a research report on Thursday, October 17th. Leerink Swann set a $9.00 target price on shares of Ardelyx and gave the company a “buy” rating in a research report on Tuesday, September 24th. ValuEngine lowered shares of Ardelyx from a “sell” rating to a “strong sell” rating in a research report on Wednesday, December 4th. Jefferies Financial Group lifted their target price on shares of Ardelyx from $6.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. Finally, Zacks Investment Research upgraded shares of Ardelyx from a “sell” rating to a “hold” rating in a research report on Monday, November 11th.
Shares of NASDAQ:ARDX opened at $7.00 on Tuesday. The company has a 50 day moving average of $6.21 and a 200 day moving average of $4.11. The stock has a market cap of $470.48 million, a P/E ratio of -4.32 and a beta of 1.78. Ardelyx has a 12 month low of $1.60 and a 12 month high of $8.31. The company has a current ratio of 6.27, a quick ratio of 6.27 and a debt-to-equity ratio of 1.07.
In other news, EVP Elizabeth A. Grammer sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $7.00, for a total value of $35,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark Kaufmann sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $4.56, for a total transaction of $91,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,000 shares of company stock valued at $160,200. 15.31% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Rhumbline Advisers lifted its holdings in shares of Ardelyx by 9.0% in the 3rd quarter. Rhumbline Advisers now owns 73,239 shares of the biopharmaceutical company’s stock worth $344,000 after acquiring an additional 6,022 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Ardelyx by 2.8% in the 2nd quarter. Northern Trust Corp now owns 530,420 shares of the biopharmaceutical company’s stock worth $1,427,000 after acquiring an additional 14,315 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Ardelyx by 6.0% in the 2nd quarter. Renaissance Technologies LLC now owns 2,100,070 shares of the biopharmaceutical company’s stock worth $5,649,000 after acquiring an additional 118,468 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Ardelyx by 7.4% in the 2nd quarter. BlackRock Inc. now owns 3,627,433 shares of the biopharmaceutical company’s stock worth $9,758,000 after acquiring an additional 249,537 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Ardelyx in the 2nd quarter worth approximately $69,000. Hedge funds and other institutional investors own 77.17% of the company’s stock.
Ardelyx Company Profile
Ardelyx, Inc, a specialized biopharmaceutical company, develops and sells medicines for the treatment of cardio renal diseases in the United States and internationally. The company's lead product candidate is tenapanor, which has completed Phase III clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase III clinical trial for the treatment of hyperphosphatemia in end-stage renal disease patients on dialysis.
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