ADARx Pharmaceuticals (NASDAQ:ADRX) Posts Earnings Results, Misses Expectations By $1.34 EPS

ADARx Pharmaceuticals (NASDAQ:ADRX) issued its quarterly earnings results on Thursday. The company reported ($1.74) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.40) by ($1.34), Zacks reports.

ADARx Pharmaceuticals Trading Up 8.5%

Shares of ADRX opened at $16.17 on Friday. ADARx Pharmaceuticals has a 12-month low of $12.50 and a 12-month high of $23.21.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ADRX shares. JPMorgan Chase & Co. started coverage on shares of ADARx Pharmaceuticals in a report on Tuesday, October 20th. They set an “overweight” rating and a $38.00 price objective for the company. Morgan Stanley initiated coverage on shares of ADARx Pharmaceuticals in a research report on Tuesday, October 20th. They set an “overweight” rating and a $32.00 price target on the stock. TD Cowen initiated coverage on shares of ADARx Pharmaceuticals in a research report on Tuesday, October 20th. They set a “buy” rating on the stock. Wall Street Zen upgraded ADARx Pharmaceuticals to a “hold” rating in a research note on Saturday, October 3rd. Finally, Zacks Research raised ADARx Pharmaceuticals to a “hold” rating in a report on Wednesday, October 21st. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, ADARx Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.00.

Insider Buying and Selling at ADARx Pharmaceuticals

In other ADARx Pharmaceuticals news, Director Simeon George bought 1,600,000 shares of the company’s stock in a transaction on Monday, September 28th. The shares were bought at an average cost of $17.00 per share, with a total value of $27,200,000.00. Following the completion of the acquisition, the director owned 5,554,094 shares of the company’s stock, valued at approximately $94,419,598. This trade represents a 40.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Erez Chimovits purchased 61,516 shares of ADARx Pharmaceuticals stock in a transaction dated Monday, September 28th. The stock was acquired at an average price of $17.00 per share, for a total transaction of $1,045,772.00. Following the completion of the transaction, the director owned 9,292,025 shares in the company, valued at approximately $157,964,425. The trade was a 0.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired a total of 3,261,516 shares of company stock worth $55,445,772 over the last 90 days.

About ADARx Pharmaceuticals

ADARx Pharmaceuticals is a clinical-stage biopharmaceutical company developing RNA-targeted medicines for serious diseases. Its research focuses on oligonucleotide therapeutics designed to alter the activity of specific RNA molecules and, in turn, address disease-related gene expression. The company’s pipeline includes investigational candidates for conditions such as hereditary angioedema and complement-mediated diseases. These therapies remain in development and have not been established as approved treatments.