Bank of New York Mellon Corp grew its holdings in Ardelyx (NASDAQ:ARDX) by 31.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 182,011 shares of the biopharmaceutical company’s stock after acquiring an additional 43,213 shares during the period. Bank of New York Mellon Corp’s holdings in Ardelyx were worth $1,201,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also bought and sold shares of the business. State Street Corp grew its stake in shares of Ardelyx by 3.7% in the second quarter. State Street Corp now owns 507,918 shares of the biopharmaceutical company’s stock worth $2,592,000 after acquiring an additional 18,210 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Ardelyx by 64.6% in the third quarter. Dimensional Fund Advisors LP now owns 426,543 shares of the biopharmaceutical company’s stock worth $2,389,000 after acquiring an additional 167,341 shares in the last quarter. Candriam Luxembourg S.C.A. acquired a new position in shares of Ardelyx in the fourth quarter worth $1,980,000. Finally, The Manufacturers Life Insurance Company grew its stake 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 acquiring an additional 4,871 shares in the last quarter. Institutional investors and hedge funds own 74.26% of the company’s stock.
Shares of ARDX stock opened at $4.85 on Friday. The firm has a market cap of $233.26, a P/E ratio of -3.57 and a beta of 0.79. Ardelyx has a 12 month low of $4.05 and a 12 month high of $14.10.
Ardelyx (NASDAQ:ARDX) last issued its earnings results on Wednesday, March 14th. The biopharmaceutical company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.60. The firm had revenue of $42.00 million for the quarter, compared to analyst estimates of $6.00 million. analysts expect that Ardelyx will post -1.75 EPS for the current year.
Several equities analysts have commented on ARDX shares. BidaskClub upgraded shares of Ardelyx from a “hold” rating to a “buy” rating in a research note on Wednesday, December 27th. Wedbush restated an “outperform” rating on shares of Ardelyx in a research note on Thursday, March 15th. Zacks Investment Research downgraded shares of Ardelyx from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Cantor Fitzgerald set a $12.00 price target on shares of Ardelyx and gave the stock a “buy” rating in a research note on Saturday, March 17th. Finally, Leerink Swann restated an “outperform” rating and issued a $13.00 price target on shares of Ardelyx in a research note on Monday, March 19th. Three investment analysts have rated the stock with a sell rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $12.93.
ILLEGAL ACTIVITY NOTICE: This piece was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece on another website, it was illegally stolen and republished in violation of international trademark & copyright laws. The legal version of this piece can be viewed at https://www.dispatchtribunal.com/2018/04/22/bank-of-new-york-mellon-corp-boosts-holdings-in-ardelyx-ardx.html.
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.
Want to see what other hedge funds are holding ARDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ardelyx (NASDAQ:ARDX).
Receive News & Ratings for Ardelyx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ardelyx and related companies with MarketBeat.com's FREE daily email newsletter.