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Shares of Ardelyx (NASDAQ:ARDX) reached a new 52-week low during trading on Friday , StockRatingsNetwork.com reports. The stock traded as low as $12.97 and last traded at $13.36, with a volume of 21,596 shares. The stock had previously closed at $14.46.

ARDX has been the subject of a number of recent research reports. Analysts at Wedbush initiated coverage on shares of Ardelyx in a research note on Monday, July 14th. They set an “outperform” rating and a $31.00 price target on the stock. Separately, analysts at Leerink Swann initiated coverage on shares of Ardelyx in a research note on Monday, July 14th. They set an “outperform” rating and a $32.00 price target on the stock. Finally, analysts at JMP Securities initiated coverage on shares of Ardelyx in a research note on Monday, July 14th. They set an “outperform” rating and a $26.00 price target on the stock.

The stock’s 50-day moving average is $16.34 and its 200-day moving average is $16.34. The company’s market cap is $236.6 million.

Ardelyx, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of non-systemic, small molecule therapeutics that work in the gastrointestinal (NASDAQ:ARDX), tract to treat cardio-renal, GI and metabolic diseases.

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