ADARx Pharmaceuticals (NASDAQ:ADRX) Stock Rating Raised to Strong-Buy at UBS Group

UBS Group upgraded shares of ADARx Pharmaceuticals (NASDAQ:ADRX) to a strong-buy rating in a research report sent to investors on Tuesday,Zacks reports.

Several other equities analysts also recently commented on the stock. Morgan Stanley initiated coverage on shares of ADARx Pharmaceuticals in a report on Tuesday. They issued an “overweight” rating and a $32.00 target price on the stock. Wall Street Zen raised shares of ADARx Pharmaceuticals to a “hold” rating in a research note on Saturday, October 3rd. TD Cowen began coverage on shares of ADARx Pharmaceuticals in a research note on Tuesday. They set a “buy” rating for the company. Finally, JPMorgan Chase & Co. initiated coverage on shares of ADARx Pharmaceuticals in a report on Tuesday. They issued an “overweight” rating and a $38.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $35.00.

ADARx Pharmaceuticals Trading Up 0.3%

ADRX stock opened at $17.68 on Tuesday. ADARx Pharmaceuticals has a 1-year low of $16.61 and a 1-year high of $23.21.

Insiders Place Their Bets

In other news, Director Erez Chimovits bought 61,516 shares of the stock in a transaction dated Monday, September 28th. The stock was purchased at an average cost of $17.00 per share, for a total transaction of $1,045,772.00. Following the transaction, the director owned 9,292,025 shares of the company’s stock, valued at $157,964,425. The trade was a 0.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Simeon George bought 1,600,000 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The stock was acquired 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 $94,419,598. This represents a 40.46% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 3,261,516 shares of company stock valued at $55,445,772 in the last quarter.

ADARx Pharmaceuticals Company Profile

ADARx Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that target disease-driving proteins through RNA-based technologies. The company’s platform is designed to support potent and durable control of protein production, with the goal of creating therapies that may be administered less frequently than conventional treatments.

ADARx is advancing a pipeline of investigational therapeutics for conditions involving the kallikrein-kinin and complement pathways, which are implicated in hereditary angioedema and other immune-mediated or inflammatory diseases.