Ardelyx (NASDAQ:ARDX) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Thursday.
A number of other equities research analysts have also commented on ARDX. Wedbush reiterated an “outperform” rating on shares of Ardelyx in a research report on Thursday, March 15th. Cantor Fitzgerald set a $12.00 target price on Ardelyx and gave the company a “buy” rating in a research report on Saturday, March 17th. Zacks Investment Research downgraded Ardelyx from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Leerink Swann reissued an “outperform” rating and issued a $13.00 price objective on shares of Ardelyx in a research note on Monday, March 19th. Finally, ValuEngine downgraded Ardelyx from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $12.93.
Shares of ARDX stock opened at $5.80 on Thursday. The stock has a market cap of $273.72 million, a PE ratio of -4.26 and a beta of 0.80. Ardelyx has a fifty-two week low of $4.05 and a fifty-two week high of $8.65.
A number of large investors have recently modified their holdings of ARDX. Algert Global LLC purchased a new stake in Ardelyx in the 1st quarter valued at $253,000. Trexquant Investment LP grew its holdings in Ardelyx by 200.8% in the 1st quarter. Trexquant Investment LP now owns 53,210 shares of the biopharmaceutical company’s stock valued at $269,000 after buying an additional 35,522 shares in the last quarter. A.R.T. Advisors LLC purchased a new stake in Ardelyx in the 1st quarter valued at $367,000. Virtus Fund Advisers LLC purchased a new stake in Ardelyx in the 4th quarter valued at $386,000. Finally, Sofinnova Ventures Inc purchased a new stake in Ardelyx in the 1st quarter valued at $501,000. Institutional investors own 74.41% of the company’s stock.
Ardelyx, Inc, a specialized biopharmaceutical company, develops and sells disruptive medicines for the treatment of cardio renal and gastrointestinal diseases in the United States and Asia Pacific. The company's lead product candidate is tenapanor, which has completed Phase III clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase III clinical trial for the treatment of hyperphosphatemia in end-stage renal disease patients on dialysis.
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