Ardelyx (NASDAQ:ARDX) has been given a $12.00 price target by equities research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Wednesday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price target indicates a potential upside of 67.83% from the company’s current price.

ARDX has been the subject of several other research reports. Citigroup boosted their target price on Ardelyx from $14.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, October 12th. Wedbush reiterated an “outperform” rating and issued a $12.00 price objective (down previously from $13.00) on shares of Ardelyx in a research note on Tuesday, November 28th. Zacks Investment Research upgraded Ardelyx from a “sell” rating to a “buy” rating and set a $6.50 price objective for the company in a research note on Friday, November 10th. Leerink Swann reiterated an “outperform” rating and issued a $13.00 price objective on shares of Ardelyx in a research note on Tuesday, October 17th. Finally, BidaskClub upgraded Ardelyx from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $12.64.

Ardelyx (ARDX) traded up $0.15 during mid-day trading on Wednesday, reaching $7.15. The company had a trading volume of 422,881 shares, compared to its average volume of 382,900. The stock has a market capitalization of $339.23, a PE ratio of -3.21 and a beta of 0.35. Ardelyx has a 12-month low of $4.05 and a 12-month high of $15.40.

Ardelyx (NASDAQ:ARDX) last posted its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, topping the consensus estimate of ($0.54) by $0.10. During the same period in the previous year, the firm posted ($0.65) EPS. equities analysts anticipate that Ardelyx will post -2.01 EPS for the current fiscal year.

In other Ardelyx news, COO Reginald Seeto sold 10,008 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $5.20, for a total value of $52,041.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 15.47% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. NEA Management Company LLC lifted its stake in Ardelyx by 19.4% in the third quarter. NEA Management Company LLC now owns 14,083,582 shares of the biopharmaceutical company’s stock valued at $182,242,000 after buying an additional 2,290,951 shares during the last quarter. RA Capital Management LLC increased its holdings in shares of Ardelyx by 41.3% in the third quarter. RA Capital Management LLC now owns 3,266,045 shares of the biopharmaceutical company’s stock valued at $42,263,000 after purchasing an additional 953,802 shares during the period. Rock Springs Capital Management LP increased its holdings in shares of Ardelyx by 54.9% in the third quarter. Rock Springs Capital Management LP now owns 1,975,000 shares of the biopharmaceutical company’s stock valued at $25,557,000 after purchasing an additional 700,000 shares during the period. Perceptive Advisors LLC increased its holdings 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 purchasing an additional 50,000 shares during the period. Finally, Vanguard Group Inc. increased its holdings 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 valued at $6,516,000 after purchasing an additional 48,077 shares during the period. Institutional investors own 76.12% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Ardelyx (ARDX) Given a $12.00 Price Target by Cantor Fitzgerald Analysts” was originally published by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another publication, it was stolen and republished in violation of US and international copyright and trademark laws. The correct version of this piece of content can be read at https://www.americanbankingnews.com/2018/01/03/ardelyx-ardx-given-a-12-00-price-target-by-cantor-fitzgerald-analysts.html.

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)

Receive News & Ratings for Ardelyx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ardelyx and related companies with MarketBeat.com's FREE daily email newsletter.