Ardelyx, Inc. (NASDAQ:ARDX) has been assigned a consensus recommendation of “Buy” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $15.60.

Several analysts have issued reports on the stock. BTIG Research dropped their price target on shares of Ardelyx from $18.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, May 23rd. BidaskClub raised shares of Ardelyx from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. ValuEngine raised shares of Ardelyx from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $12.00 price target on shares of Ardelyx in a research report on Wednesday, May 31st. Finally, Zacks Investment Research lowered shares of Ardelyx from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th.

WARNING: “Ardelyx, Inc. (NASDAQ:ARDX) Receives Average Rating of “Buy” from Analysts” was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this report on another publication, it was copied illegally and republished in violation of United States and international trademark and copyright laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/08/08/ardelyx-inc-nasdaqardx-receives-average-rating-of-buy-from-analysts.html.

Ardelyx (ARDX) opened at 4.55 on Tuesday. The firm’s market capitalization is $215.61 million. The company has a 50-day moving average of $5.25 and a 200-day moving average of $9.78. Ardelyx has a 1-year low of $4.05 and a 1-year high of $16.30.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings results on Friday, May 5th. The biopharmaceutical company reported ($0.59) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.65) by $0.06. On average, equities analysts predict that Ardelyx will post ($2.46) earnings per share for the current year.

Several institutional investors have recently modified their holdings of the stock. Perceptive Advisors LLC raised its position in shares of Ardelyx by 2.7% in the first quarter. Perceptive Advisors LLC now owns 1,886,196 shares of the biopharmaceutical company’s stock valued at $23,860,000 after buying an additional 50,000 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Ardelyx by 4.0% in the first quarter. Vanguard Group Inc. now owns 1,229,557 shares of the biopharmaceutical company’s stock valued at $15,554,000 after buying an additional 47,853 shares during the last quarter. Marshall Wace North America L.P. raised its position in shares of Ardelyx by 2.1% in the second quarter. Marshall Wace North America L.P. now owns 807,246 shares of the biopharmaceutical company’s stock valued at $4,036,000 after buying an additional 16,764 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new position in shares of Ardelyx during the first quarter valued at $10,276,000. Finally, State Street Corp raised its position in shares of Ardelyx by 14.9% in the fourth quarter. State Street Corp now owns 462,228 shares of the biopharmaceutical company’s stock valued at $6,565,000 after buying an additional 59,813 shares during the last quarter. 82.47% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Ardelyx (NASDAQ:ARDX)

Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.