Ardelyx, Inc. (NASDAQ:ARDX) received a $12.00 price target from equities researchers at Cantor Fitzgerald in a research note issued on Wednesday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 155.32% from the stock’s previous close.

A number of other research firms have also weighed in on ARDX. Zacks Investment Research lowered Ardelyx from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. Citigroup Inc. restated a “buy” rating and set a $12.00 target price (down previously from $17.00) on shares of Ardelyx in a report on Monday, May 15th. BTIG Research lowered their target price on Ardelyx from $18.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, May 23rd. BidaskClub upgraded Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Finally, ValuEngine upgraded Ardelyx from a “strong sell” rating to a “sell” rating in a report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $14.13.

Ardelyx (NASDAQ ARDX) opened at 4.70 on Wednesday. The stock has a 50 day moving average price of $5.27 and a 200 day moving average price of $9.44. The company’s market cap is $222.71 million. Ardelyx has a 12 month low of $4.05 and a 12 month high of $16.30.

COPYRIGHT VIOLATION NOTICE: This piece was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece on another domain, it was illegally copied and reposted in violation of United States & international copyright law. The legal version of this piece can be accessed at https://www.thecerbatgem.com/2017/08/10/ardelyx-inc-ardx-pt-set-at-12-00-by-cantor-fitzgerald.html.

Hedge funds have recently bought and sold shares of the company. ClariVest Asset Management LLC raised its stake in 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 buying an additional 400 shares in the last quarter. Emory University raised its stake in Ardelyx by 36.0% in the first quarter. Emory University now owns 189,477 shares of the biopharmaceutical company’s stock worth $2,397,000 after buying an additional 50,120 shares in the last quarter. Alliancebernstein L.P. raised its stake in 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 buying an additional 1,000 shares in the last quarter. Sphera Funds Management LTD. raised its stake in Ardelyx by 127.3% in the first quarter. Sphera Funds Management LTD. now owns 345,000 shares of the biopharmaceutical company’s stock worth $4,364,000 after buying an additional 193,187 shares in the last quarter. Finally, American International Group Inc. raised its stake in Ardelyx by 43.8% in the first quarter. American International Group Inc. now owns 18,926 shares of the biopharmaceutical company’s stock worth $239,000 after buying an additional 5,765 shares in the last quarter. Institutional investors own 82.47% 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.

Analyst Recommendations for Ardelyx (NASDAQ:ARDX)

Receive News & Stock Ratings for Ardelyx Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ardelyx Inc. and related stocks with our FREE daily email newsletter.