Shares of Ardelyx Inc (NASDAQ:ARDX) have been given an average recommendation of “Hold” by the seven analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $11.00.
A number of equities research analysts have issued reports on ARDX shares. Leerink Swann set a $9.00 price objective on Ardelyx and gave the company a “buy” rating in a research report on Tuesday, September 24th. Jefferies Financial Group lifted their target price on Ardelyx from $6.00 to $11.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. ValuEngine downgraded Ardelyx from a “sell” rating to a “strong sell” rating in a research report on Wednesday, December 4th. BidaskClub downgraded Ardelyx from a “buy” rating to a “hold” rating in a research report on Saturday, November 23rd. Finally, Svb Leerink increased their price target on Ardelyx from $8.00 to $9.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th.
Shares of Ardelyx stock traded up $0.42 during trading hours on Tuesday, reaching $7.24. The company’s stock had a trading volume of 51,437 shares, compared to its average volume of 1,253,098. The firm has a 50 day moving average price of $6.03 and a 200-day moving average price of $4.02. The company has a debt-to-equity ratio of 1.07, a current ratio of 6.27 and a quick ratio of 6.27. The stock has a market cap of $429.68 million, a P/E ratio of -4.47 and a beta of 1.76. Ardelyx has a one year low of $1.60 and a one year high of $8.31.
In other news, CFO Mark Kaufmann sold 20,000 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $4.56, for a total value of $91,200.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Elizabeth A. Grammer sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $6.80, for a total value of $34,000.00. Insiders sold a total of 30,000 shares of company stock valued at $160,200 in the last 90 days. Company insiders own 15.31% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its position in Ardelyx by 7.4% in the 2nd quarter. BlackRock Inc. now owns 3,627,433 shares of the biopharmaceutical company’s stock valued at $9,758,000 after acquiring an additional 249,537 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Ardelyx by 6.0% during the second quarter. Renaissance Technologies LLC now owns 2,100,070 shares of the biopharmaceutical company’s stock worth $5,649,000 after purchasing an additional 118,468 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in shares of Ardelyx by 16.1% during the second quarter. D. E. Shaw & Co. Inc. now owns 809,476 shares of the biopharmaceutical company’s stock valued at $2,177,000 after purchasing an additional 111,963 shares during the period. Bank of America Corp DE boosted its stake in shares of Ardelyx by 89.7% during the second quarter. Bank of America Corp DE now owns 195,675 shares of the biopharmaceutical company’s stock valued at $527,000 after purchasing an additional 92,510 shares during the period. Finally, State Street Corp boosted its stake in shares of Ardelyx by 5.8% during the third quarter. State Street Corp now owns 920,901 shares of the biopharmaceutical company’s stock valued at $4,328,000 after purchasing an additional 50,495 shares during the period. Institutional investors own 77.17% of the company’s stock.
Ardelyx Company Profile
Ardelyx, Inc, a specialized biopharmaceutical company, develops and sells medicines for the treatment of cardio renal diseases in the United States and internationally. 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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