Ardelyx, Inc. (ARDX) Price Target Increased to $14.00 by Analysts at Cantor Fitzgerald
Ardelyx, Inc. (NASDAQ:ARDX) had its price target upped by Cantor Fitzgerald from $12.00 to $14.00 in a research report released on Thursday morning. Cantor Fitzgerald currently has an overweight rating on the biopharmaceutical company’s stock.
A number of other equities research analysts have also recently issued reports on the company. ValuEngine cut Ardelyx from a sell rating to a strong sell rating in a research report on Friday, September 1st. BidaskClub raised Ardelyx from a sell rating to a hold rating in a research report on Wednesday, August 23rd. Finally, Zacks Investment Research cut Ardelyx from a buy rating to a hold rating in a research report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. Ardelyx presently has a consensus rating of Buy and an average price target of $17.40.
Shares of Ardelyx (NASDAQ ARDX) opened at 7.275 on Thursday. The stock’s 50 day moving average is $5.59 and its 200-day moving average is $6.91. The stock’s market cap is $345.16 million. Ardelyx has a 1-year low of $4.05 and a 1-year high of $16.30.
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 analysts’ consensus estimates of ($0.63) by $0.09. On average, analysts anticipate that Ardelyx will post ($2.22) EPS for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the company. KCG Holdings Inc. bought a new stake in shares of Ardelyx in the first quarter valued at approximately $127,000. 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 acquiring an additional 3,659 shares during the period. Alliancebernstein L.P. boosted its position in shares of Ardelyx by 7.9% in the first quarter. Alliancebernstein L.P. now owns 13,700 shares of the biopharmaceutical company’s stock valued at $173,000 after acquiring an additional 1,000 shares during the period. American International Group Inc. boosted its position in shares of Ardelyx by 43.8% in the first quarter. American International Group Inc. now owns 18,926 shares of the biopharmaceutical company’s stock valued at $239,000 after acquiring an additional 5,765 shares during the period. Finally, Tudor Investment Corp ET AL bought a new stake in shares of Ardelyx in the second quarter valued at approximately $111,000. 78.58% 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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