Ardelyx Inc. (NASDAQ:ARDX) was down 3.7% on Wednesday . The company traded as low as $9.57 and last traded at $10.11, with a volume of 144,834 shares trading hands. The stock had previously closed at $10.50.

A number of equities research analysts recently weighed in on ARDX shares. Zacks Investment Research upgraded shares of Ardelyx from a “hold” rating to a “buy” rating and set a $8.75 price objective on the stock in a research note on Wednesday, May 4th. Leerink Swann restated a “buy” rating and set a $17.00 price objective on shares of Ardelyx in a research note on Tuesday, May 10th. Cantor Fitzgerald restated a “buy” rating on shares of Ardelyx in a research note on Wednesday, June 22nd. Finally, Wedbush restated an “outperform” rating and set a $24.00 price objective on shares of Ardelyx in a research note on Thursday, June 23rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. Ardelyx presently has an average rating of “Buy” and a consensus price target of $20.00.

The stock has a 50-day moving average price of $10.16 and a 200-day moving average price of $8.89. The stock’s market cap is $471.08 million.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 stock in a transaction dated Monday, July 18th. The shares were acquired at an average cost of $8.73 per share, for a total transaction of $13,333,337.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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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