Ardelyx Inc (ARDX) Receives $11.80 Consensus PT from Brokerages
Ardelyx Inc (NASDAQ:ARDX) has been assigned an average rating of “Buy” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $11.80.
A number of equities analysts have weighed in on the stock. ValuEngine raised shares of Ardelyx from a “sell” rating to a “hold” rating in a research note on Friday, June 1st. Zacks Investment Research raised shares of Ardelyx from a “hold” rating to a “buy” rating and set a $4.75 price target on the stock in a research note on Tuesday, July 10th. Citigroup cut their price target on shares of Ardelyx from $17.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, August 9th. Finally, Jefferies Financial Group assumed coverage on shares of Ardelyx in a research note on Friday, August 24th. They set a “buy” rating and a $7.00 price target on the stock.
Shares of ARDX traded up $0.05 on Wednesday, hitting $3.85. 206,805 shares of the stock traded hands, compared to its average volume of 458,218. The company has a debt-to-equity ratio of 0.30, a quick ratio of 14.21 and a current ratio of 14.21. The company has a market capitalization of $235.80 million, a price-to-earnings ratio of -2.79 and a beta of 0.81. Ardelyx has a 1 year low of $3.58 and a 1 year high of $8.65.
Several institutional investors have recently added to or reduced their stakes in ARDX. Marshall Wace LLP increased its position in shares of Ardelyx by 132.9% in the second quarter. Marshall Wace LLP now owns 27,359 shares of the biopharmaceutical company’s stock worth $101,000 after acquiring an additional 15,610 shares in the last quarter. Cubist Systematic Strategies LLC grew its holdings in Ardelyx by 173.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 32,266 shares of the biopharmaceutical company’s stock valued at $119,000 after purchasing an additional 20,458 shares in the last quarter. Trexquant Investment LP grew its holdings in Ardelyx by 200.8% during the 1st quarter. Trexquant Investment LP now owns 53,210 shares of the biopharmaceutical company’s stock valued at $269,000 after purchasing an additional 35,522 shares in the last quarter. Alps Advisors Inc. acquired a new stake in Ardelyx during the 2nd quarter valued at $323,000. Finally, A.R.T. Advisors LLC acquired a new stake in Ardelyx during the 1st quarter valued at $367,000. 73.46% of the stock is owned by institutional investors.
Ardelyx Company Profile
Ardelyx, Inc, a specialized biopharmaceutical company, develops and sells disruptive medicines for the treatment of cardio renal and gastrointestinal diseases in the United States and Asia Pacific. The company's lead product candidate is tenapanor, which has completed Phase III clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase III clinical trial for the treatment of hyperphosphatemia in end-stage renal disease patients on dialysis.
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