Wedbush reiterated their outperform rating on shares of Ardelyx (NASDAQ:ARDX) in a research report sent to investors on Thursday morning.
Other analysts also recently issued research reports about the stock. Cantor Fitzgerald set a $12.00 target price on shares of Ardelyx and gave the company a buy rating in a report on Wednesday, January 3rd. BidaskClub upgraded shares of Ardelyx from a hold rating to a buy rating in a research note on Wednesday, December 27th. Citigroup raised their price objective on shares of Ardelyx from $16.00 to $17.00 and gave the company a buy rating in a research note on Wednesday, November 29th. Ladenburg Thalmann Financial Services reduced their price objective 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. Finally, Zacks Investment Research upgraded shares of Ardelyx from a hold rating to a buy rating and set a $8.50 price objective for the company in a research note on Tuesday, January 30th. 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. The company has an average rating of Hold and a consensus price target of $12.93.
Shares of ARDX stock traded up $0.15 during trading hours on Thursday, hitting $5.45. 562,836 shares of the stock traded hands, compared to its average volume of 253,284. The stock has a market capitalization of $259.44, a P/E ratio of -4.01 and a beta of 0.76. Ardelyx has a 1-year low of $4.05 and a 1-year high of $15.40.
A number of institutional investors and hedge funds have recently made changes to their positions in ARDX. Parametric Portfolio Associates LLC grew its holdings in Ardelyx by 8.9% during the second quarter. Parametric Portfolio Associates LLC now owns 27,581 shares of the biopharmaceutical company’s stock valued at $141,000 after purchasing an additional 2,252 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in 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 purchasing an additional 4,871 shares during the period. Citadel Advisors LLC grew its position in shares of Ardelyx by 20.6% during the 3rd quarter. Citadel Advisors LLC now owns 58,526 shares of the biopharmaceutical company’s stock worth $328,000 after buying an additional 9,986 shares during the period. Virtus Fund Advisers LLC acquired a new position in shares of Ardelyx during the 4th quarter worth about $386,000. Finally, TIAA CREF Investment Management LLC grew its position in shares of Ardelyx by 10.3% during the 4th quarter. TIAA CREF Investment Management LLC now owns 94,898 shares of the biopharmaceutical company’s stock worth $626,000 after buying an additional 8,869 shares during the period. Institutional investors own 74.37% of the company’s stock.
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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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