Ardelyx (NASDAQ:ARDX) has been assigned a $15.00 target price by investment analysts at Piper Jaffray Companies in a research note issued to investors on Thursday, TipRanks reports. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Piper Jaffray Companies’ target price indicates a potential upside of 197.62% from the company’s previous close. Piper Jaffray Companies also issued estimates for Ardelyx’s FY2019 earnings at ($1.62) EPS.
Separately, ValuEngine raised Ardelyx from a “sell” rating to a “hold” rating in a report on Thursday, August 1st.
Shares of Ardelyx stock traded down $0.27 during trading on Thursday, reaching $5.04. 1,574,990 shares of the company’s stock were exchanged, compared to its average volume of 450,995. The company has a debt-to-equity ratio of 0.77, a quick ratio of 7.79 and a current ratio of 7.79. Ardelyx has a 1-year low of $1.60 and a 1-year high of $6.78. The company has a market cap of $394.39 million, a P/E ratio of -3.11 and a beta of 1.71. The firm’s 50-day moving average price is $3.26 and its 200 day moving average price is $3.04.
Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA increased its holdings in Ardelyx by 297.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,289 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 6,950 shares in the last quarter. Jane Street Group LLC acquired a new position in Ardelyx in the 2nd quarter worth about $29,000. Citadel Advisors LLC acquired a new position in Ardelyx in the 2nd quarter worth about $37,000. SG Americas Securities LLC acquired a new position in Ardelyx in the 2nd quarter worth about $69,000. Finally, Acadian Asset Management LLC increased its holdings in Ardelyx by 81.9% in the 1st quarter. Acadian Asset Management LLC now owns 100,564 shares of the biopharmaceutical company’s stock worth $282,000 after purchasing an additional 45,280 shares in the last quarter. 72.82% of the stock is owned by institutional investors and hedge funds.
Ardelyx Company Profile
Ardelyx, Inc, a specialized biopharmaceutical company, develops and sells medicines for the treatment of cardio renal diseases in the United States and internationally. 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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