Ardelyx, Inc. (NASDAQ:ARDX) issued its quarterly earnings results on Wednesday. The biopharmaceutical company reported ($0.54) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.63) by $0.09, Bloomberg Earnings reports.

Shares of Ardelyx (NASDAQ ARDX) traded up 6.38% on Thursday, hitting $5.00. The stock had a trading volume of 312,845 shares. The firm’s 50-day moving average is $5.27 and its 200-day moving average is $9.44. The company’s market cap is $236.93 million. Ardelyx has a one year low of $4.05 and a one year high of $16.30.

A number of brokerages have recently weighed in on ARDX. Zacks Investment Research lowered Ardelyx from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. Citigroup Inc. restated a “buy” rating and set a $12.00 price target (down previously from $17.00) on shares of Ardelyx in a research note on Monday, May 15th. Cantor Fitzgerald restated an “overweight” rating and set a $12.00 price target (down previously from $19.00) on shares of Ardelyx in a research note on Friday, May 19th. BTIG Research dropped their price target on Ardelyx from $18.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, May 23rd. Finally, BidaskClub upgraded Ardelyx from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. Ardelyx has an average rating of “Buy” and an average target price of $14.13.

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Hedge funds have recently bought and sold shares of the stock. MARSHALL WACE ASIA Ltd acquired a new stake in Ardelyx during the first quarter worth $10,276,000. Marshall Wace North America L.P. acquired a new stake in Ardelyx during the first quarter worth $10,276,000. Teachers Advisors LLC increased its stake in Ardelyx by 549.9% in the first quarter. Teachers Advisors LLC now owns 306,935 shares of the biopharmaceutical company’s stock worth $3,883,000 after buying an additional 259,705 shares during the period. Kennedy Capital Management Inc. acquired a new stake in Ardelyx during the second quarter worth $1,274,000. Finally, Sphera Funds Management LTD. increased its stake in Ardelyx by 127.3% in the first quarter. Sphera Funds Management LTD. now owns 345,000 shares of the biopharmaceutical company’s stock worth $4,364,000 after buying an additional 193,187 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.

About Ardelyx

Ardelyx, Inc is a clinical-stage biopharmaceutical company. The Company’s therapeutics focuses on addressing cardiorenal and gastrointestinal (GI) diseases. It operates through the research, development and commercialization of biopharmaceutical products segment. The Company’s products line includes cardiorenal portfolio and gastrointestinal portfolio.

Earnings History for Ardelyx (NASDAQ:ARDX)

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