Ardelyx Inc. (ARDX) Stock Price Down 4.3%
Ardelyx Inc. (NASDAQ:ARDX)’s share price was down 4.3% on Friday . The stock traded as low as $9.97 and last traded at $9.97, with a volume of 56,171 shares trading hands. The stock had previously closed at $10.42.
Several equities analysts have recently weighed in on ARDX shares. Zacks Investment Research raised shares of Ardelyx from a “hold” rating to a “buy” rating and set a $8.75 price objective on the stock in a research report on Wednesday, May 4th. Leerink Swann reissued a “buy” rating and issued a $17.00 price objective on shares of Ardelyx in a research report on Tuesday, May 10th. Cantor Fitzgerald reissued a “buy” rating on shares of Ardelyx in a research report on Wednesday, June 22nd. Finally, Wedbush reissued an “outperform” rating and issued a $24.00 price objective on shares of Ardelyx in a research report on Thursday, June 23rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $20.00.
The firm’s market cap is $467.78 million. The company has a 50-day moving average price of $9.93 and a 200-day moving average price of $8.88.
Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.83) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.75) by $0.08. On average, equities research analysts anticipate that Ardelyx Inc. will post ($3.03) EPS for the current year.
In other news, major shareholder Nea 15 Gp, Llc acquired 1,527,301 shares of the business’s stock in a transaction on Monday, July 18th. The shares were purchased at an average cost of $8.73 per share, with a total value of $13,333,337.73. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
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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