BidaskClub upgraded shares of Ardelyx (NASDAQ:ARDX) from a sell rating to a hold rating in a report issued on Thursday, BidAskClub reports.

Several other equities research analysts have also recently weighed in on the stock. Piper Jaffray Companies set a $15.00 price target on shares of Ardelyx and gave the company a buy rating in a research report on Thursday, October 17th. Citigroup started coverage on shares of Ardelyx in a report on Wednesday. They issued a buy rating and a $13.00 price objective for the company. Cowen started coverage on shares of Ardelyx in a report on Monday. They issued an outperform rating for the company. Jefferies Financial Group upped their price objective on shares of Ardelyx from $6.00 to $11.00 and gave the stock a buy rating in a report on Tuesday, December 3rd. Finally, Zacks Investment Research lowered shares of Ardelyx from a hold rating to a sell rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $11.40.

ARDX traded down $0.48 during trading on Thursday, hitting $7.20. 809,885 shares of the stock traded hands, compared to its average volume of 711,096. The firm has a market capitalization of $505.35 million, a P/E ratio of -4.36 and a beta of 2.01. The company has a debt-to-equity ratio of 1.07, a current ratio of 6.27 and a quick ratio of 6.27. The firm has a 50-day moving average of $7.27 and a 200 day moving average of $5.62. Ardelyx has a 12-month low of $2.10 and a 12-month high of $8.49.

In other Ardelyx news, CEO Michael Raab sold 25,000 shares of the company’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $7.32, for a total value of $183,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth A. Grammer sold 5,000 shares of the company’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $6.80, for a total transaction of $34,000.00. Insiders sold a total of 35,000 shares of company stock valued at $252,000 over the last 90 days. Company insiders own 15.31% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of ARDX. Jane Street Group LLC bought a new position in shares of Ardelyx in the 2nd quarter worth about $29,000. Meeder Asset Management Inc. increased its stake in shares of Ardelyx by 43.2% in the 4th quarter. Meeder Asset Management Inc. now owns 6,969 shares of the biopharmaceutical company’s stock worth $52,000 after acquiring an additional 2,104 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Ardelyx by 21.0% in the 4th quarter. Victory Capital Management Inc. now owns 9,547 shares of the biopharmaceutical company’s stock worth $68,000 after acquiring an additional 1,657 shares in the last quarter. Metropolitan Life Insurance Co NY bought a new position in shares of Ardelyx in the 3rd quarter worth about $86,000. Finally, Tower Research Capital LLC TRC bought a new position in shares of Ardelyx in the 3rd quarter worth about $87,000. Institutional investors and hedge funds own 75.16% of the company’s stock.

About Ardelyx

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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Analyst Recommendations for Ardelyx (NASDAQ:ARDX)

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