Cantor Fitzgerald Reiterates “$12.00” Price Target for Ardelyx (ARDX)

Ardelyx (NASDAQ:ARDX) has been given a $12.00 target price by equities research analysts at Cantor Fitzgerald in a report released on Monday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 111.27% from the company’s current price.

Several other research firms have also recently weighed in on ARDX. Ladenburg Thalmann Financial Services cut their target price on shares of Ardelyx from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, November 22nd. BidaskClub upgraded shares of Ardelyx from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Zacks Investment Research lowered shares of Ardelyx from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Leerink Swann reiterated an “outperform” rating and set a $13.00 price objective on shares of Ardelyx in a research report on Tuesday, October 17th. Finally, ValuEngine lowered shares of Ardelyx from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $12.93.

Ardelyx (NASDAQ:ARDX) traded down $0.47 on Monday, reaching $5.68. 481,000 shares of the company traded hands, compared to its average volume of 284,297. The stock has a market capitalization of $275.77, a PE ratio of -2.55 and a beta of 0.44. Ardelyx has a 52 week low of $4.05 and a 52 week high of $15.40.

Several institutional investors have recently added to or reduced their stakes in ARDX. Schwab Charles Investment Management Inc. lifted its holdings in shares of Ardelyx by 30.7% in the 2nd 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 last quarter. Alliancebernstein L.P. lifted its holdings in Ardelyx by 341.6% during the 2nd quarter. Alliancebernstein L.P. now owns 60,500 shares of the biopharmaceutical company’s stock valued at $309,000 after buying an additional 46,800 shares in the last quarter. Teachers Advisors LLC lifted its holdings in Ardelyx by 2.5% during the 2nd quarter. Teachers Advisors LLC now owns 314,562 shares of the biopharmaceutical company’s stock valued at $1,604,000 after buying an additional 7,627 shares in the last quarter. Northern Trust Corp lifted its holdings in Ardelyx by 2.8% during the 2nd quarter. Northern Trust Corp now owns 367,753 shares of the biopharmaceutical company’s stock valued at $1,876,000 after buying an additional 9,941 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Ardelyx by 3.9% during the 2nd quarter. Vanguard Group Inc. now owns 1,277,634 shares of the biopharmaceutical company’s stock valued at $6,516,000 after buying an additional 48,077 shares in the last quarter. Hedge funds and other institutional investors own 74.83% of the company’s stock.

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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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