Ardelyx, Inc. (ARDX) Given Consensus Recommendation of “Buy” by Analysts

Shares of Ardelyx, Inc. (NASDAQ:ARDX) have been assigned an average recommendation of “Buy” from the nine analysts that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $12.64.

A number of research firms have recently issued reports on ARDX. Wedbush reiterated an “outperform” rating and set a $12.00 price objective (down previously from $13.00) on shares of Ardelyx in a research note on Tuesday, November 28th. ValuEngine downgraded shares of Ardelyx from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Cantor Fitzgerald reissued a “buy” rating and set a $12.00 price target on shares of Ardelyx in a research report on Tuesday, November 21st. Ladenburg Thalmann Financial Services decreased their price target on shares of Ardelyx from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, November 22nd. Finally, Zacks Investment Research raised shares of Ardelyx from a “sell” rating to a “buy” rating and set a $6.50 price target for the company in a research report on Friday, November 10th.

In other news, COO Reginald Seeto sold 10,008 shares of the business’s stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $5.20, for a total transaction of $52,041.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 15.47% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Bank of America Corp DE raised its position in Ardelyx by 52.6% in the first quarter. Bank of America Corp DE now owns 10,612 shares of the biopharmaceutical company’s stock worth $134,000 after acquiring an additional 3,659 shares in the last quarter. Sei Investments Co. raised its position in 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 in the last quarter. Alliancebernstein L.P. raised its position in Ardelyx by 7.9% in the first quarter. Alliancebernstein L.P. now owns 13,700 shares of the biopharmaceutical company’s stock worth $173,000 after acquiring an additional 1,000 shares in the last quarter. Tudor Investment Corp ET AL bought a new stake in Ardelyx in the second quarter worth about $111,000. Finally, State of Wisconsin Investment Board bought a new stake in Ardelyx in the second quarter worth about $128,000. Hedge funds and other institutional investors own 76.15% of the company’s stock.

Shares of Ardelyx (NASDAQ ARDX) opened at $6.10 on Monday. Ardelyx has a 12 month low of $4.05 and a 12 month high of $16.30.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.10. During the same quarter in the previous year, the business posted ($0.65) EPS. sell-side analysts forecast that Ardelyx will post -2.01 earnings per share for the current year.

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Ardelyx Company Profile

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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