Ardelyx (ARDX) Downgraded by BidaskClub to Hold

Ardelyx (NASDAQ:ARDX) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Friday.

A number of other research firms have also commented on ARDX. Ladenburg Thalmann Financial Services lowered their price objective on shares of Ardelyx from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, November 22nd. Leerink Swann reiterated an “outperform” rating and set a $13.00 price objective on shares of Ardelyx in a research note on Tuesday, October 17th. Zacks Investment Research lowered shares of Ardelyx from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Cantor Fitzgerald set a $12.00 price objective on shares of Ardelyx and gave the company a “buy” rating in a research note on Tuesday, November 28th. Finally, Wedbush reiterated an “outperform” rating and set a $12.00 price objective (down previously from $13.00) on shares of Ardelyx in a research note on Tuesday, November 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the stock. Ardelyx has a consensus rating of “Buy” and an average target price of $12.64.

Ardelyx (NASDAQ ARDX) opened at $7.10 on Friday. Ardelyx has a 12 month low of $4.05 and a 12 month high of $15.40. The company has a market cap of $336.86, a P/E ratio of -3.18 and a beta of 0.35.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.44) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.54) by $0.10. During the same quarter last year, the business posted ($0.65) EPS. research analysts expect that Ardelyx will post -2.01 earnings per share for the current fiscal year.

In other Ardelyx news, COO Reginald Seeto sold 10,008 shares of Ardelyx stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $5.20, for a total value of $52,041.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 15.47% of the company’s stock.

A number of institutional investors have recently bought and sold shares of ARDX. Tudor Investment Corp ET AL acquired a new position in Ardelyx in the second quarter worth approximately $111,000. Parametric Portfolio Associates LLC grew its position in Ardelyx by 8.9% in the second quarter. Parametric Portfolio Associates LLC now owns 27,581 shares of the biopharmaceutical company’s stock worth $141,000 after buying an additional 2,252 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Ardelyx by 18.5% in the second quarter. The Manufacturers Life Insurance Company now owns 31,252 shares of the biopharmaceutical company’s stock worth $159,000 after buying an additional 4,871 shares during the last quarter. Rhumbline Advisers grew its position in Ardelyx by 15.6% in the second quarter. Rhumbline Advisers now owns 40,516 shares of the biopharmaceutical company’s stock worth $207,000 after buying an additional 5,465 shares during the last quarter. Finally, Citadel Advisors LLC acquired a new position in Ardelyx in the second quarter worth approximately $248,000. Hedge funds and other institutional investors own 76.12% of the company’s stock.

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Ardelyx Company Profile

Ardelyx, Inc is a clinical-stage biopharmaceutical company. The Company’s therapeutics focuses on addressing cardiorenal and gastrointestinal (GI) diseases. It operates through the research, development and commercialization of biopharmaceutical products segment. The Company’s products line includes cardiorenal portfolio and gastrointestinal portfolio.

Analyst Recommendations for Ardelyx (NASDAQ:ARDX)

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