Ardelyx Inc. (ARDX) Sees Strong Trading Volume
Shares of Ardelyx Inc. (NASDAQ:ARDX) saw strong trading volume on Tuesday . 272,892 shares were traded during trading, an increase of 86% from the previous session’s volume of 146,937 shares.The stock last traded at $10.35 and had previously closed at $10.35.
Several equities analysts have recently commented on the company. Zacks Investment Research lowered Ardelyx from a “buy” rating to a “hold” rating in a report on Friday. Citigroup Inc. lowered their target price on Ardelyx from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, August 10th. Wedbush reaffirmed an “outperform” rating and set a $24.00 target price on shares of Ardelyx in a report on Thursday, June 23rd. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Ardelyx in a report on Wednesday, June 22nd. Finally, Leerink Swann reaffirmed a “buy” rating on shares of Ardelyx in a report on Thursday, June 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $20.00.
The firm has a 50 day moving average price of $9.82 and a 200-day moving average price of $8.86. The stock’s market capitalization is $489.04 million.
Ardelyx (NASDAQ:ARDX) last released its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.75) by $0.08. Analysts predict that Ardelyx Inc. will post ($3.20) EPS for the current fiscal year.
In related news, major shareholder Nea 15 Gp, Llc bought 1,527,301 shares of Ardelyx stock in a transaction that occurred on Monday, July 18th. The stock was acquired at an average price of $8.73 per share, for a total transaction of $13,333,337.73. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Ardelyx, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of minimally systemic therapeutic drugs that work in the gastrointestinal (GI) tract to treat GI and cardio-renal diseases. The Company operates through research, development and commercialization of biopharmaceutical products segment.
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