Ardelyx (NASDAQ:ARDX) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a report released on Friday.
A number of other analysts also recently issued reports on ARDX. Cantor Fitzgerald set a $12.00 target price on Ardelyx and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Citigroup raised their target price on Ardelyx from $14.00 to $19.00 and gave the stock a “buy” rating in a research report on Thursday, October 12th. Leerink Swann reissued an “outperform” rating and issued a $13.00 target price on shares of Ardelyx in a research report on Tuesday, October 17th. Zacks Investment Research downgraded Ardelyx from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Finally, Ladenburg Thalmann Financial Services decreased their target price on Ardelyx from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Wednesday, November 22nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. Ardelyx currently has an average rating of “Buy” and a consensus price target of $12.64.
Shares of Ardelyx (NASDAQ:ARDX) traded up $0.20 on Friday, hitting $7.30. The company had a trading volume of 275,564 shares, compared to its average volume of 288,197. The stock has a market capitalization of $346.35, a P/E ratio of -3.27 and a beta of 0.35. Ardelyx has a one year low of $4.05 and a one year high of $15.40.
In other news, COO Reginald Seeto sold 10,008 shares of the firm’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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 15.47% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the company. Tudor Investment Corp ET AL bought a new position in shares of Ardelyx in the second quarter worth $111,000. Parametric Portfolio Associates LLC boosted its holdings in shares of Ardelyx by 8.9% in the second quarter. Parametric Portfolio Associates LLC now owns 27,581 shares of the biopharmaceutical company’s stock worth $141,000 after acquiring an additional 2,252 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Ardelyx by 18.5% in the second quarter. The Manufacturers Life Insurance Company now owns 31,252 shares of the biopharmaceutical company’s stock worth $159,000 after acquiring an additional 4,871 shares during the period. Rhumbline Advisers boosted its holdings in shares of Ardelyx by 15.6% in the second quarter. Rhumbline Advisers now owns 40,516 shares of the biopharmaceutical company’s stock worth $207,000 after acquiring an additional 5,465 shares during the period. Finally, Citadel Advisors LLC bought a new position in shares of Ardelyx in the second quarter worth $248,000. 76.12% of the stock is owned by hedge funds and other institutional investors.
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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.
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