Ardelyx, Inc. (NASDAQ:ARDX) was the target of a significant increase in short interest in October. As of October 31st, there was short interest totalling 1,812,355 shares, an increase of 48.0% from the October 13th total of 1,224,464 shares. Based on an average daily volume of 1,054,159 shares, the days-to-cover ratio is presently 1.7 days. Currently, 6.1% of the company’s stock are short sold.

A number of research firms have issued reports on ARDX. Cantor Fitzgerald set a $12.00 price objective on Ardelyx and gave the stock a “buy” rating in a report on Wednesday, August 9th. BidaskClub upgraded Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Zacks Investment Research upgraded Ardelyx from a “sell” rating to a “buy” rating and set a $6.50 price objective for the company in a report on Friday, November 10th. Leerink Swann reiterated an “outperform” rating and issued a $13.00 price objective on shares of Ardelyx in a report on Tuesday, October 17th. Finally, ValuEngine downgraded Ardelyx from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $14.75.

In other Ardelyx news, COO Reginald Seeto sold 10,008 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $5.20, for a total value of $52,041.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 15.47% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in shares of Ardelyx by 64.6% in the third quarter. Dimensional Fund Advisors LP now owns 426,543 shares of the biopharmaceutical company’s stock worth $2,389,000 after acquiring an additional 167,341 shares during the last quarter. Axiom International Investors LLC DE grew its stake in shares of Ardelyx by 65.6% in the third quarter. Axiom International Investors LLC DE now owns 183,227 shares of the biopharmaceutical company’s stock worth $1,026,000 after acquiring an additional 72,573 shares during the last quarter. Citadel Advisors LLC grew its stake in shares of Ardelyx by 20.6% in the third quarter. Citadel Advisors LLC now owns 58,526 shares of the biopharmaceutical company’s stock worth $328,000 after acquiring an additional 9,986 shares during the last quarter. Sei Investments Co. grew its stake in shares of Ardelyx by 2,039.8% in the third quarter. Sei Investments Co. now owns 13,395 shares of the biopharmaceutical company’s stock worth $750,000 after acquiring an additional 12,769 shares during the last quarter. Finally, IndexIQ Advisors LLC grew its stake in shares of Ardelyx by 83.1% in the third quarter. IndexIQ Advisors LLC now owns 68,517 shares of the biopharmaceutical company’s stock worth $384,000 after acquiring an additional 31,104 shares during the last quarter. 78.43% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Ardelyx (NASDAQ ARDX) opened at $5.30 on Thursday. Ardelyx has a 12 month low of $4.05 and a 12 month high of $16.30.

Ardelyx (NASDAQ:ARDX) last released its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.44) EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.10. During the same period in the previous year, the firm earned ($0.65) earnings per share. equities analysts anticipate that Ardelyx will post -2.05 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Ardelyx, Inc. (ARDX) Short Interest Update” was originally published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece on another publication, it was stolen and republished in violation of international copyright and trademark law. The original version of this piece can be viewed at https://www.thecerbatgem.com/2017/11/16/ardelyx-inc-ardx-short-interest-update.html.

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.

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.