Piper Jaffray Companies Analysts Give Ardelyx (NASDAQ:ARDX) a $15.00 Price Target
Piper Jaffray Companies set a $15.00 price objective on Ardelyx (NASDAQ:ARDX) in a report issued on Thursday, TipRanks reports. The brokerage currently has a buy rating on the biopharmaceutical company’s stock.
Other research analysts also recently issued research reports about the company. BidaskClub downgraded Ardelyx from a hold rating to a sell rating in a research note on Thursday. Zacks Investment Research raised Ardelyx from a sell rating to a hold rating in a research note on Tuesday, October 15th. Leerink Swann set a $9.00 price target on Ardelyx and gave the company a buy rating in a research note on Tuesday, September 24th. ValuEngine upgraded Ardelyx from a strong sell rating to a sell rating in a research report on Wednesday. Finally, Svb Leerink lifted their target price on Ardelyx from $8.00 to $9.00 and gave the company an outperform rating in a research report on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average price target of $8.81.
ARDX stock traded down $0.11 during midday trading on Thursday, reaching $4.52. The company had a trading volume of 597,912 shares, compared to its average volume of 551,342. The company has a market capitalization of $290.77 million, a price-to-earnings ratio of -2.79 and a beta of 1.76. The stock has a 50 day moving average price of $4.75 and a 200-day moving average price of $3.34. Ardelyx has a 1-year low of $1.60 and a 1-year high of $6.78. The company has a debt-to-equity ratio of 0.77, a current ratio of 7.79 and a quick ratio of 7.79.
In other Ardelyx news, CFO Mark Kaufmann sold 20,000 shares of Ardelyx stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $4.56, for a total value of $91,200.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 30,874 shares of company stock worth $126,322. Company insiders own 15.31% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC grew its holdings in shares of Ardelyx by 6.0% during the second quarter. Renaissance Technologies LLC now owns 2,100,070 shares of the biopharmaceutical company’s stock worth $5,649,000 after purchasing an additional 118,468 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Ardelyx by 2.8% during the second quarter. Northern Trust Corp now owns 530,420 shares of the biopharmaceutical company’s stock worth $1,427,000 after purchasing an additional 14,315 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Ardelyx during the second quarter worth about $69,000. D. E. Shaw & Co. Inc. grew its holdings in shares of Ardelyx by 16.1% during the second quarter. D. E. Shaw & Co. Inc. now owns 809,476 shares of the biopharmaceutical company’s stock worth $2,177,000 after purchasing an additional 111,963 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of Ardelyx during the second quarter worth about $37,000. Hedge funds and other institutional investors own 72.82% of the company’s stock.
Ardelyx Company Profile
Ardelyx, Inc, a specialized biopharmaceutical company, develops and sells medicines for the treatment of cardio renal diseases in the United States and internationally. 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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