Cantor Fitzgerald Reaffirms “Buy” Rating for Ardelyx, Inc. (ARDX)
A number of other analysts also recently issued reports on the company. BidaskClub raised Ardelyx from a sell rating to a hold rating in a report on Wednesday, August 23rd. Zacks Investment Research downgraded Ardelyx from a buy rating to a hold rating in a report on Tuesday, July 18th. ValuEngine raised Ardelyx from a strong sell rating to a sell rating in a report on Thursday, July 6th. BTIG Research reduced their target price on Ardelyx from $18.00 to $12.00 and set a buy rating for the company in a report on Tuesday, May 23rd. Finally, Citigroup Inc. reissued a buy rating and issued a $12.00 target price (down from $17.00) on shares of Ardelyx in a report on Monday, May 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of Buy and an average price target of $14.13.
Ardelyx (NASDAQ:ARDX) opened at 4.95 on Monday. The stock’s 50 day moving average price is $5.21 and its 200 day moving average price is $8.86. The company’s market capitalization is $234.85 million. Ardelyx has a one year low of $4.05 and a one year high of $16.30.
Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.63) by $0.09. Equities analysts anticipate that Ardelyx will post ($2.19) EPS for the current fiscal year.
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Several hedge funds have recently bought and sold shares of ARDX. KCG Holdings Inc. purchased a new stake in Ardelyx during the first quarter valued at $127,000. Bank of America Corp DE increased its stake in Ardelyx by 52.6% in the first quarter. Bank of America Corp DE now owns 10,612 shares of the biopharmaceutical company’s stock valued at $134,000 after buying an additional 3,659 shares during the last quarter. Alliancebernstein L.P. increased its stake in Ardelyx by 7.9% in the first quarter. Alliancebernstein L.P. now owns 13,700 shares of the biopharmaceutical company’s stock valued at $173,000 after buying an additional 1,000 shares during the last quarter. American International Group Inc. increased its stake in Ardelyx by 43.8% in the first quarter. American International Group Inc. now owns 18,926 shares of the biopharmaceutical company’s stock valued at $239,000 after buying an additional 5,765 shares during the last quarter. Finally, Tudor Investment Corp ET AL purchased a new stake in Ardelyx during the second quarter valued at $111,000. 78.58% of the stock is owned by institutional investors and hedge funds.
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.
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