Ardelyx (ARDX) Downgraded to Sell at ValuEngine
Ardelyx (NASDAQ:ARDX) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Thursday.
ARDX has been the subject of a number of other research reports. Zacks Investment Research downgraded Ardelyx from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. BidaskClub upgraded Ardelyx from a “sell” rating to a “hold” rating in a research report on Friday, September 28th. Jefferies Financial Group started coverage on Ardelyx in a research report on Friday, August 24th. They set a “buy” rating and a $7.00 target price for the company. Finally, Citigroup dropped their target price on Ardelyx from $17.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, August 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $9.55.
Shares of ARDX stock traded down $0.14 on Thursday, reaching $2.42. 471,300 shares of the stock were exchanged, compared to its average volume of 417,607. The company has a market cap of $159.06 million, a P/E ratio of -1.78 and a beta of 1.32. Ardelyx has a one year low of $2.30 and a one year high of $8.10. The company has a quick ratio of 12.83, a current ratio of 12.83 and a debt-to-equity ratio of 0.35.
Institutional investors have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its stake in shares of Ardelyx by 97.8% during the second quarter. Renaissance Technologies LLC now owns 775,140 shares of the biopharmaceutical company’s stock worth $2,868,000 after purchasing an additional 383,340 shares during the period. Alambic Investment Management L.P. acquired a new stake in shares of Ardelyx during the second quarter worth $533,000. NEA Management Company LLC grew its stake in shares of Ardelyx by 8.9% during the second quarter. NEA Management Company LLC now owns 15,335,047 shares of the biopharmaceutical company’s stock worth $56,740,000 after purchasing an additional 1,251,465 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Ardelyx during the second quarter worth $1,189,000. Finally, Schwab Charles Investment Management Inc. grew its stake in shares of Ardelyx by 206.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 197,133 shares of the biopharmaceutical company’s stock worth $730,000 after purchasing an additional 132,793 shares during the period. 75.37% of the stock is owned by institutional investors and hedge funds.
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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