Ardelyx Inc. (ARDX) Stock Price Down 3.7%
Shares of Ardelyx Inc. (NASDAQ:ARDX) were 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 traded. The stock had previously closed at $10.50.
A number of analysts have recently weighed in on ARDX shares. Leerink Swann reaffirmed a “buy” rating on shares of Ardelyx in a report on Thursday, June 23rd. Citigroup Inc. cut their price target 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. Zacks Investment Research raised shares of Ardelyx from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Tuesday, July 12th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Ardelyx in a report on Wednesday, June 22nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $24.00 price target on shares of Ardelyx in a report on Thursday, June 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $20.00.
The stock’s 50-day moving average is $10.21 and its 200 day moving average is $8.90. The firm’s market capitalization is $473.45 million.
Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by $0.08. On average, equities analysts predict that Ardelyx Inc. will post ($3.03) earnings per share for the current year.
In related news, major shareholder Nea 15 Gp, Llc acquired 1,527,301 shares of the business’s stock in a transaction dated Monday, July 18th. The stock was bought at an average price of $8.73 per share, for a total transaction of $13,333,337.73. The purchase was disclosed in a filing with the SEC, which is accessible 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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