Ardelyx (ARDX) Stock Rating Upgraded by BidaskClub

Ardelyx (NASDAQ:ARDX) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

Other equities analysts have also issued reports about the company. Cantor Fitzgerald set a $12.00 price objective on Ardelyx and gave the company a “buy” rating in a report on Tuesday, November 28th. Ladenburg Thalmann Financial Services reduced their price objective on Ardelyx from $19.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, November 22nd. Zacks Investment Research raised Ardelyx from a “sell” rating to a “buy” rating and set a $6.50 price objective for the company in a report on Friday, November 10th. Citigroup increased their price objective on Ardelyx from $14.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, October 12th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $12.00 price target (down from $13.00) on shares of Ardelyx in a report on Tuesday, November 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $12.64.

Shares of Ardelyx (NASDAQ ARDX) traded down $0.20 during midday trading on Friday, reaching $7.65. The company’s stock had a trading volume of 246,959 shares, compared to its average volume of 241,952. Ardelyx has a 1-year low of $4.05 and a 1-year high of $15.40. The company has a market capitalization of $373.15, a price-to-earnings ratio of -3.43 and a beta of 0.35.

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

Several institutional investors have recently bought and sold shares of ARDX. Schwab Charles Investment Management Inc. boosted its holdings in shares of Ardelyx by 30.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 64,340 shares of the biopharmaceutical company’s stock worth $329,000 after acquiring an additional 15,100 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. Alliancebernstein L.P. boosted its holdings in shares of Ardelyx by 341.6% in the second quarter. Alliancebernstein L.P. now owns 60,500 shares of the biopharmaceutical company’s stock worth $309,000 after acquiring an additional 46,800 shares during the period. Teachers Advisors LLC boosted its holdings in shares of Ardelyx by 2.5% in the second quarter. Teachers Advisors LLC now owns 314,562 shares of the biopharmaceutical company’s stock worth $1,604,000 after acquiring an additional 7,627 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Ardelyx by 2.8% in the second quarter. Northern Trust Corp now owns 367,753 shares of the biopharmaceutical company’s stock worth $1,876,000 after acquiring an additional 9,941 shares during the period. 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.

Analyst Recommendations for Ardelyx (NASDAQ:ARDX)

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