Ladenburg Thalmann Financial Services Lowers Ardelyx, Inc. (ARDX) Price Target to $16.00
Ardelyx, Inc. (NASDAQ:ARDX) had its target price decreased by analysts at Ladenburg Thalmann Financial Services from $19.00 to $16.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Ladenburg Thalmann Financial Services’ price objective would suggest a potential upside of 150.00% from the company’s current price.
ARDX has been the topic of several other research reports. Cantor Fitzgerald reiterated a “buy” rating on shares of Ardelyx in a research note on Monday, August 28th. Zacks Investment Research cut Ardelyx from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Leerink Swann reiterated an “outperform” rating and issued a $13.00 price target on shares of Ardelyx in a research note on Tuesday, October 17th. BidaskClub raised Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Finally, Citigroup Inc. boosted their price objective on Ardelyx from $14.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. Ardelyx has a consensus rating of “Buy” and a consensus target price of $14.64.
Ardelyx (NASDAQ:ARDX) opened at $6.40 on Wednesday. Ardelyx has a one year low of $4.05 and a one year high of $16.30.
Ardelyx (NASDAQ:ARDX) last released its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.44) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.54) by $0.10. During the same period last year, the firm posted ($0.65) earnings per share. equities analysts predict that Ardelyx will post -2.05 EPS for the current fiscal year.
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In related news, COO Reginald Seeto sold 10,008 shares of the business’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $5.20, for a total value of $52,041.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 15.47% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of ARDX. Parametric Portfolio Associates LLC bought a new position in shares of Ardelyx during the first quarter valued at approximately $320,000. American International Group Inc. grew its holdings in shares of Ardelyx by 43.8% during the first quarter. American International Group Inc. now owns 18,926 shares of the biopharmaceutical company’s stock valued at $239,000 after purchasing an additional 5,765 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Ardelyx by 7.9% during the first quarter. Alliancebernstein L.P. now owns 13,700 shares of the biopharmaceutical company’s stock valued at $173,000 after purchasing an additional 1,000 shares during the last quarter. Teachers Advisors LLC grew its holdings in shares of Ardelyx by 549.9% during the first quarter. Teachers Advisors LLC now owns 306,935 shares of the biopharmaceutical company’s stock valued at $3,883,000 after purchasing an additional 259,705 shares during the last quarter. Finally, TIAA CREF Investment Management LLC grew its holdings in shares of Ardelyx by 9.6% during the first quarter. TIAA CREF Investment Management LLC now owns 99,143 shares of the biopharmaceutical company’s stock valued at $1,254,000 after purchasing an additional 8,659 shares during the last quarter. 78.82% of the stock is owned by institutional investors.
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.
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