Ardelyx, Inc. (NASDAQ:ARDX) was upgraded by stock analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a note issued to investors on Thursday, July 6th.

ARDX has been the topic of several other reports. Zacks Investment Research downgraded Ardelyx from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. Citigroup Inc. reiterated a “buy” rating and set a $12.00 target price (down from $17.00) on shares of Ardelyx in a research report on Monday, May 15th. Cantor Fitzgerald reiterated an “overweight” rating and set a $12.00 target price (down from $19.00) on shares of Ardelyx in a research report on Friday, May 19th. Finally, BTIG Research reduced their target price on Ardelyx from $18.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $14.13.

Shares of Ardelyx (ARDX) traded up 3.23% during mid-day trading on Thursday, hitting $4.80. The company’s stock had a trading volume of 323,885 shares. The stock has a 50-day moving average of $5.25 and a 200-day moving average of $9.78. Ardelyx has a 12-month low of $4.05 and a 12-month high of $16.30. The company’s market cap is $227.45 million.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings data on Friday, May 5th. The biopharmaceutical company reported ($0.59) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.65) by $0.06. On average, equities research analysts forecast that Ardelyx will post ($2.46) EPS for the current year.

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Large investors have recently made changes to their positions in the company. Perceptive Advisors LLC raised its stake in shares of Ardelyx by 2.7% in the first quarter. Perceptive Advisors LLC now owns 1,886,196 shares of the biopharmaceutical company’s stock valued at $23,860,000 after buying an additional 50,000 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Ardelyx by 4.0% in the first quarter. Vanguard Group Inc. now owns 1,229,557 shares of the biopharmaceutical company’s stock valued at $15,554,000 after buying an additional 47,853 shares in the last quarter. Marshall Wace North America L.P. raised its stake in Ardelyx by 2.1% in the second quarter. Marshall Wace North America L.P. now owns 807,246 shares of the biopharmaceutical company’s stock worth $4,036,000 after buying an additional 16,764 shares during the period. MARSHALL WACE ASIA Ltd bought a new stake in Ardelyx during the first quarter worth about $10,276,000. Finally, State Street Corp raised its stake in Ardelyx by 14.9% in the fourth quarter. State Street Corp now owns 462,228 shares of the biopharmaceutical company’s stock worth $6,565,000 after buying an additional 59,813 shares during the period. Institutional investors own 83.63% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Ardelyx (NASDAQ:ARDX)

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