Ardelyx Inc. (ARDX) Sees Large Volume Increase
Ardelyx Inc. (NASDAQ:ARDX) saw an uptick in trading volume on Tuesday . 148,007 shares traded hands during trading, an increase of 38% from the previous session’s volume of 107,391 shares.The stock last traded at $10.02 and had previously closed at $10.06.
A number of research firms have recently weighed in on ARDX. Wedbush reiterated an “outperform” rating and set a $24.00 price target on shares of Ardelyx in a report on Thursday, June 23rd. Leerink Swann reiterated a “buy” rating and set a $17.00 price target on shares of Ardelyx in a report on Tuesday, May 10th. Zacks Investment Research upgraded Ardelyx from a “hold” rating to a “buy” rating and set a $8.75 price target for the company in a report on Wednesday, May 4th. Cantor Fitzgerald reiterated a “buy” rating on shares of Ardelyx in a report on Wednesday, June 22nd. Finally, Citigroup Inc. decreased their target price on Ardelyx from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, August 10th. One investment 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 stock presently has an average rating of “Buy” and a consensus target price of $20.00.
The company’s market cap is $472.50 million. The stock’s 50 day moving average price is $10.00 and its 200-day moving average price is $8.86.
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 the Zacks’ consensus estimate of ($0.75) by $0.08. On average, equities research analysts expect that Ardelyx Inc. will post ($3.03) earnings per share for the current fiscal year.
In related news, major shareholder Nea 15 Gp, Llc purchased 1,527,301 shares of the business’s stock in a transaction dated 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 can be accessed 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.