Ardelyx Inc (NASDAQ:ARDX) has been given a consensus recommendation of “Buy” by the nine analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $12.64.

ARDX has been the topic of several analyst reports. Cantor Fitzgerald set a $12.00 target price on Ardelyx and gave the stock a “buy” rating in a report on Wednesday, October 11th. Citigroup boosted their target price on Ardelyx from $14.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, October 12th. Leerink Swann reissued an “outperform” rating and issued a $13.00 target price on shares of Ardelyx in a report on Tuesday, October 17th. Zacks Investment Research downgraded Ardelyx from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Finally, Ladenburg Thalmann Financial Services dropped their target price on Ardelyx from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, November 22nd.

Shares of Ardelyx (ARDX) opened at $7.05 on Friday. Ardelyx has a 1 year low of $4.05 and a 1 year high of $15.40. The firm has a market capitalization of $334.49, a P/E ratio of -3.16 and a beta of 0.35.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.54) by $0.10. During the same period in the prior year, the business earned ($0.65) EPS. equities analysts forecast that Ardelyx will post -2.01 EPS for the current fiscal year.

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

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Ardelyx by 3.9% during the second quarter. Vanguard Group Inc. now owns 1,277,634 shares of the biopharmaceutical company’s stock valued at $6,516,000 after acquiring an additional 48,077 shares during the last quarter. State Street Corp increased its position in Ardelyx by 3.7% during the second quarter. State Street Corp now owns 507,918 shares of the biopharmaceutical company’s stock valued at $2,592,000 after acquiring an additional 18,210 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Ardelyx by 64.6% during the third quarter. Dimensional Fund Advisors LP now owns 426,543 shares of the biopharmaceutical company’s stock valued at $2,389,000 after acquiring an additional 167,341 shares during the last quarter. DAFNA Capital Management LLC increased its position in Ardelyx by 68.4% during the second quarter. DAFNA Capital Management LLC now owns 373,409 shares of the biopharmaceutical company’s stock valued at $1,904,000 after acquiring an additional 151,671 shares during the last quarter. Finally, Northern Trust Corp increased its position in Ardelyx by 2.8% during the second quarter. Northern Trust Corp now owns 367,753 shares of the biopharmaceutical company’s stock valued at $1,876,000 after acquiring an additional 9,941 shares during the last quarter. Institutional investors own 76.12% of the company’s stock.

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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)

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