Ardelyx, Inc. (ARDX) Lifted to Hold at BidaskClub
BidaskClub upgraded shares of Ardelyx, Inc. (NASDAQ:ARDX) from a sell rating to a hold rating in a research report released on Wednesday morning.
Several other brokerages also recently commented on ARDX. Zacks Investment Research downgraded Ardelyx from a hold rating to a sell rating in a report on Tuesday, April 25th. Citigroup Inc. reiterated a buy rating and set a $12.00 price target (down previously from $17.00) on shares of Ardelyx in a report on Monday, May 15th. Cantor Fitzgerald reiterated an overweight rating and set a $12.00 price target (down previously from $19.00) on shares of Ardelyx in a report on Friday, May 19th. BTIG Research lowered their price target on Ardelyx from $18.00 to $12.00 and set a buy rating on the stock in a report on Tuesday, May 23rd. Finally, ValuEngine upgraded Ardelyx from a strong sell rating to a sell rating in a report on Thursday, July 6th. 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. Ardelyx has an average rating of Buy and a consensus target price of $14.13.
Ardelyx (NASDAQ ARDX) opened at 5.05 on Wednesday. Ardelyx has a one year low of $4.05 and a one year high of $16.30. The firm’s market capitalization is $239.60 million. The stock has a 50 day moving average of $5.21 and a 200 day moving average of $8.86.
Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.09. Analysts forecast that Ardelyx will post ($2.19) earnings per share for the current year.
Large investors have recently bought and sold shares of the stock. Tudor Investment Corp ET AL acquired a new stake in Ardelyx during the second quarter valued at $111,000. KCG Holdings Inc. purchased a new position in shares of Ardelyx during the first quarter valued at approximately $127,000. State of Wisconsin Investment Board purchased a new position in shares of Ardelyx during the second quarter valued at approximately $128,000. Bank of America Corp DE boosted its position in shares of Ardelyx by 52.6% in the first quarter. Bank of America Corp DE now owns 10,612 shares of the biopharmaceutical company’s stock valued at $134,000 after buying an additional 3,659 shares during the period. Finally, Willingdon Wealth Management purchased a new position in shares of Ardelyx during the second quarter valued at approximately $134,000. 80.95% of the stock is owned by institutional investors.
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.
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