Ardelyx (ARDX) Downgraded by BidaskClub to “Sell”

BidaskClub downgraded shares of Ardelyx (NASDAQ:ARDX) from a hold rating to a sell rating in a report released on Wednesday morning.

ARDX has been the topic of several other reports. Zacks Investment Research downgraded Ardelyx from a buy rating to a hold rating in a research report on Tuesday, January 23rd. Citigroup boosted their price objective on Ardelyx from $16.00 to $17.00 and gave the company a buy rating in a research report on Wednesday, November 29th. Wedbush restated an outperform rating and issued a $12.00 price objective (down from $13.00) on shares of Ardelyx in a research report on Tuesday, November 28th. Cantor Fitzgerald restated a buy rating and issued a $12.00 price objective on shares of Ardelyx in a research report on Tuesday, November 21st. Finally, ValuEngine downgraded Ardelyx from a sell rating to a strong sell rating in a research report on Friday, February 2nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. Ardelyx currently has a consensus rating of Hold and an average price target of $12.93.

Ardelyx (NASDAQ:ARDX) opened at $5.80 on Wednesday. Ardelyx has a 52-week low of $4.05 and a 52-week high of $15.40. The company has a market capitalization of $266.01, a PE ratio of -2.60 and a beta of 0.44.

Several large investors have recently bought and sold shares of ARDX. Tudor Investment Corp ET AL purchased a new stake in shares of Ardelyx in the second quarter worth about $111,000. Parametric Portfolio Associates LLC lifted its position in shares of Ardelyx by 8.9% in the second quarter. Parametric Portfolio Associates LLC now owns 27,581 shares of the biopharmaceutical company’s stock worth $141,000 after buying an additional 2,252 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Ardelyx by 18.5% in the second quarter. The Manufacturers Life Insurance Company now owns 31,252 shares of the biopharmaceutical company’s stock worth $159,000 after buying an additional 4,871 shares in the last quarter. Alliancebernstein L.P. lifted its position 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 buying an additional 46,800 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Ardelyx by 17.8% in the second quarter. Goldman Sachs Group Inc. now owns 61,139 shares of the biopharmaceutical company’s stock worth $312,000 after buying an additional 9,219 shares in the last quarter. Institutional investors own 74.83% of the company’s stock.

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About Ardelyx

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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