Ardelyx (ARDX) Downgraded to Sell at ValuEngine

Ardelyx (NASDAQ:ARDX) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Other research analysts have also recently issued reports about the company. Citigroup reduced their price objective on Ardelyx from $17.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, August 9th. Jefferies Financial Group assumed coverage on Ardelyx in a research report on Friday, August 24th. They set a “buy” rating and a $7.00 price objective for the company. BidaskClub raised Ardelyx from a “sell” rating to a “hold” rating in a research report on Friday, September 28th. Finally, Zacks Investment Research cut Ardelyx from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Ardelyx has an average rating of “Buy” and an average price target of $9.55.

Shares of ARDX stock traded down $0.14 on Thursday, hitting $2.42. 471,300 shares of the stock were exchanged, compared to its average volume of 417,607. The company has a debt-to-equity ratio of 0.35, a current ratio of 12.83 and a quick ratio of 12.83. The stock has a market capitalization of $159.06 million, a P/E ratio of -1.78 and a beta of 1.32. Ardelyx has a fifty-two week low of $2.30 and a fifty-two week high of $8.10.



Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.02. Equities analysts expect that Ardelyx will post -1.57 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. NEA Management Company LLC raised its holdings in Ardelyx by 8.9% during the second quarter. NEA Management Company LLC now owns 15,335,047 shares of the biopharmaceutical company’s stock worth $56,740,000 after acquiring an additional 1,251,465 shares in the last quarter. BlackRock Inc. raised its holdings in Ardelyx by 8.4% during the third quarter. BlackRock Inc. now owns 3,880,606 shares of the biopharmaceutical company’s stock worth $16,881,000 after acquiring an additional 302,147 shares in the last quarter. Vanguard Group Inc. raised its holdings in Ardelyx by 3.1% during the third quarter. Vanguard Group Inc. now owns 1,984,621 shares of the biopharmaceutical company’s stock worth $8,633,000 after acquiring an additional 60,171 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Ardelyx by 21.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,571,451 shares of the biopharmaceutical company’s stock worth $6,836,000 after acquiring an additional 278,770 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Ardelyx by 52.4% during the third quarter. Renaissance Technologies LLC now owns 1,181,000 shares of the biopharmaceutical company’s stock worth $5,137,000 after acquiring an additional 405,860 shares in the last quarter. Institutional investors and hedge funds own 75.37% of the company’s stock.

About Ardelyx

Ardelyx, Inc, a specialized biopharmaceutical company, develops and sells disruptive medicines for the treatment of cardio renal and gastrointestinal diseases in the United States and Asia Pacific. The company's lead product candidate is tenapanor, which has completed Phase III clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase III clinical trial for the treatment of hyperphosphatemia in end-stage renal disease patients on dialysis.

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