Ardelyx Inc. (NASDAQ:ARDX)’s share price rose 2.4% during trading on Wednesday . The company traded as high as $10.46 and last traded at $10.24, with a volume of 107,978 shares traded. The stock had previously closed at $10.00.

ARDX has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated a “buy” rating on shares of Ardelyx in a research report on Wednesday, June 22nd. Zacks Investment Research downgraded Ardelyx from a “hold” rating to a “sell” rating in a research report on Thursday, May 12th. Leerink Swann reiterated a “buy” rating and set a $17.00 price objective on shares of Ardelyx in a research report on Tuesday, May 10th. Finally, Wedbush reiterated an “outperform” rating and set a $24.00 price objective on shares of Ardelyx in a research report on Thursday, June 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. Ardelyx presently has an average rating of “Buy” and a consensus target price of $20.00.

The stock’s market capitalization is $475.34 million. The firm’s 50 day moving average price is $10.06 and its 200 day moving average price is $8.87.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by $0.08. Equities analysts predict that Ardelyx Inc. will post ($3.03) EPS for the current fiscal year.

In other news, major shareholder Nea 15 Gp, Llc purchased 1,527,301 shares of the stock in a transaction that occurred on Monday, July 18th. The shares were 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 filing with the SEC, which is available 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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