Ardelyx Inc. (ARDX) Trading 3.5% Higher
Shares of Ardelyx Inc. (NASDAQ:ARDX) traded up 3.5% on Thursday . The company traded as high as $10.41 and last traded at $10.32, with a volume of 260,771 shares. The stock had previously closed at $9.97.
A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of Ardelyx from a “buy” rating to a “hold” rating in a report on Friday, May 6th. Citigroup Inc. reduced their target price on shares of Ardelyx from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, August 10th. Wedbush restated an “outperform” rating and set a $24.00 target price on shares of Ardelyx in a report on Thursday, June 23rd. Finally, Leerink Swann restated 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 given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $20.00.
The stock’s market capitalization is $487.62 million. The company has a 50-day moving average price of $10.21 and a 200-day moving average price of $8.90.
Ardelyx (NASDAQ:ARDX) last released 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 forecast that Ardelyx Inc. will post ($3.03) earnings per share for the current fiscal year.
In related news, major shareholder Nea 15 Gp, Llc bought 1,527,301 shares of the company’s stock in a transaction on Monday, July 18th. The stock was bought at an average cost of $8.73 per share, with a total value of $13,333,337.73. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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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