Ardelyx, Inc. (NASDAQ:ARDX) has been assigned a $12.00 price objective by equities research analysts at Cantor Fitzgerald in a research note issued on Wednesday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target would indicate a potential upside of 122.22% from the company’s current price.

A number of other equities analysts have also recently issued reports on ARDX. BidaskClub upgraded shares of Ardelyx from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. ValuEngine upgraded shares of Ardelyx from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th. Finally, Zacks Investment Research cut shares of Ardelyx from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $15.60.

Shares of Ardelyx (ARDX) remained flat at $5.40 on Wednesday. The stock had a trading volume of 2,703,840 shares. The company’s market cap is $256.20 million. The firm’s 50-day moving average price is $5.44 and its 200 day moving average price is $7.04. Ardelyx has a 52-week low of $4.05 and a 52-week high of $16.30.

Ardelyx (NASDAQ:ARDX) last issued its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.54) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.09. Equities research analysts expect that Ardelyx will post ($2.19) EPS for the current year.

TRADEMARK VIOLATION WARNING: This article was originally published by American Banking News and is the property of of American Banking News. If you are viewing this article on another publication, it was illegally copied and reposted in violation of United States and international copyright & trademark laws. The original version of this article can be read at https://www.americanbankingnews.com/2017/10/11/cantor-fitzgerald-reiterates-buy-rating-for-ardelyx-inc-ardx.html.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Perceptive Advisors LLC lifted its stake 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 worth $23,860,000 after buying an additional 50,000 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Ardelyx by 3.9% in the second quarter. Vanguard Group Inc. now owns 1,277,634 shares of the biopharmaceutical company’s stock worth $6,516,000 after buying an additional 48,077 shares in the last quarter. Marshall Wace North America L.P. lifted its stake 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 worth $4,036,000 after buying an additional 16,764 shares in the last quarter. State Street Corp lifted its stake in shares of Ardelyx by 3.7% in the second quarter. State Street Corp now owns 507,918 shares of the biopharmaceutical company’s stock worth $2,592,000 after buying an additional 18,210 shares in the last quarter. Finally, DAFNA Capital Management LLC lifted its stake in shares of Ardelyx by 68.4% in the second quarter. DAFNA Capital Management LLC now owns 373,409 shares of the biopharmaceutical company’s stock worth $1,904,000 after buying an additional 151,671 shares in the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

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.