Ardelyx, Inc. (NASDAQ:ARDX)‘s stock had its “outperform” rating restated by research analysts at Leerink Swann in a report released on Tuesday, October 17th, Marketbeat.com reports. They presently have a $13.00 price target on the biopharmaceutical company’s stock. Leerink Swann’s price target points to a potential upside of 157.43% from the stock’s previous close. Leerink Swann also issued estimates for Ardelyx’s Q3 2017 earnings at ($0.48) EPS, Q4 2017 earnings at ($0.45) EPS, FY2017 earnings at ($2.07) EPS, FY2018 earnings at ($1.80) EPS, FY2019 earnings at ($1.59) EPS, FY2020 earnings at ($0.35) EPS and FY2021 earnings at $0.58 EPS.
Several other research firms have also recently weighed in on ARDX. BidaskClub raised Ardelyx from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research cut Ardelyx from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Cantor Fitzgerald raised their target price on Ardelyx from $12.00 to $14.00 and gave the stock an “overweight” rating in a research report on Thursday, October 12th. Citigroup Inc. 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. Finally, ValuEngine upgraded Ardelyx from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $16.40.
Ardelyx (ARDX) traded up 4.12% during midday trading on Tuesday, hitting $5.05. 543,239 shares of the stock traded hands. The company has a 50-day moving average price of $5.66 and a 200 day moving average price of $6.55. The stock’s market cap is $239.60 million. Ardelyx has a one year low of $4.05 and a one year high of $16.30.
Ardelyx (NASDAQ:ARDX) last released its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.54) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.09. Equities research analysts anticipate that Ardelyx will post ($2.20) earnings per share for the current year.
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In related news, COO Reginald Seeto sold 10,008 shares of the firm’s stock in a transaction dated 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 legal filing with the SEC, which is accessible through this link. Company insiders own 15.47% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Ardelyx by 4.0% during the first quarter. Vanguard Group Inc. now owns 1,229,557 shares of the biopharmaceutical company’s stock worth $15,554,000 after buying an additional 47,853 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Ardelyx by 4.8% during the first quarter. Bank of New York Mellon Corp now owns 145,916 shares of the biopharmaceutical company’s stock worth $1,846,000 after buying an additional 6,647 shares during the last quarter. Kennedy Capital Management Inc. bought a new position in Ardelyx during the second quarter worth about $1,274,000. Teachers Advisors LLC boosted its holdings in Ardelyx by 549.9% during the first quarter. Teachers Advisors LLC now owns 306,935 shares of the biopharmaceutical company’s stock worth $3,883,000 after buying an additional 259,705 shares during the last quarter. Finally, American International Group Inc. boosted its holdings in Ardelyx by 43.8% during the first quarter. American International Group Inc. now owns 18,926 shares of the biopharmaceutical company’s stock worth $239,000 after buying an additional 5,765 shares during the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.
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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