Ardelyx’s (ARDX) “Buy” Rating Reaffirmed at Cantor Fitzgerald
Other equities research analysts have also recently issued research reports about the stock. Zacks Investment Research raised shares of Ardelyx from a hold rating to a buy rating and set a $6.75 target price on the stock in a research note on Tuesday, May 23rd. BTIG Research lowered their target price on shares of Ardelyx from $18.00 to $12.00 and set a buy rating on the stock in a research note on Tuesday, May 23rd. Citigroup Inc. reaffirmed a buy rating and set a $12.00 target price (down previously from $17.00) on shares of Ardelyx in a research note on Monday, May 15th. BidaskClub raised shares of Ardelyx from a sell rating to a hold rating in a research note on Wednesday, August 23rd. Finally, ValuEngine raised shares of Ardelyx from a strong sell rating to a sell rating in a research note on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Buy and an average price target of $14.13.
Ardelyx (NASDAQ:ARDX) opened at 5.15 on Monday. Ardelyx has a 52-week low of $4.05 and a 52-week high of $16.30. The firm’s 50-day moving average is $5.15 and its 200 day moving average is $8.68. The company’s market cap is $244.34 million.
Ardelyx (NASDAQ:ARDX) last announced its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.09. On average, equities research analysts predict that Ardelyx will post ($2.19) EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tudor Investment Corp ET AL purchased a new position in shares of 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 $127,000. State of Wisconsin Investment Board purchased a new position in shares of Ardelyx during the second quarter valued at $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 last quarter. Finally, Willingdon Wealth Management purchased a new position in shares of Ardelyx during the second quarter valued at $134,000. 78.58% of the stock is currently owned by hedge funds and other 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.
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.