Leerink Swann reiterated their outperform rating on shares of Ardelyx, Inc. (NASDAQ:ARDX) in a report issued on Tuesday morning. They currently have a $13.00 price objective on the biopharmaceutical company’s stock.

A number of other brokerages have also recently weighed in on ARDX. ValuEngine cut shares of Ardelyx from a sell rating to a strong sell rating in a report on Friday, September 1st. BidaskClub upgraded shares of Ardelyx from a sell rating to a hold rating in a report on Wednesday, July 12th. Cantor Fitzgerald set a $12.00 price objective on shares of Ardelyx and gave the stock a buy rating in a report on Wednesday, October 11th. Zacks Investment Research cut shares of Ardelyx from a buy rating to a hold rating in a report on Tuesday, July 18th. Finally, Citigroup Inc. upped their price objective on shares of Ardelyx from $14.00 to $19.00 and gave the stock a buy rating in a report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. Ardelyx has an average rating of Hold and an average target price of $16.40.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.54) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.63) by $0.09.

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Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in Ardelyx by 4.0% in the first quarter. Vanguard Group Inc. now owns 1,229,557 shares of the biopharmaceutical company’s stock worth $15,554,000 after purchasing an additional 47,853 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Ardelyx by 4.8% in the first quarter. Bank of New York Mellon Corp now owns 145,916 shares of the biopharmaceutical company’s stock worth $1,846,000 after purchasing an additional 6,647 shares during the last quarter. Kennedy Capital Management Inc. purchased a new stake in Ardelyx in the second quarter worth approximately $1,274,000. Teachers Advisors LLC boosted its holdings in Ardelyx by 549.9% in the first quarter. Teachers Advisors LLC now owns 306,935 shares of the biopharmaceutical company’s stock worth $3,883,000 after purchasing an additional 259,705 shares during the last quarter. Finally, American International Group Inc. boosted its holdings 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 purchasing an additional 5,765 shares during the last quarter. Institutional investors own 78.58% of the company’s stock.

About Ardelyx

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)

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