Ardelyx, Inc. (NASDAQ:ARDX – Get Free Report) has earned an average recommendation of “Buy” from the eight analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $11.67.
A number of brokerages recently issued reports on ARDX. Wedbush reiterated an “outperform” rating and set a $11.00 price objective on shares of Ardelyx in a research note on Friday, August 2nd. StockNews.com raised shares of Ardelyx from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. HC Wainwright raised their price objective on shares of Ardelyx from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, August 5th. Citigroup upped their target price on shares of Ardelyx from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Piper Sandler cut Ardelyx from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $15.00 to $7.00 in a report on Tuesday, July 2nd.
Read Our Latest Report on Ardelyx
Insiders Place Their Bets
Institutional Investors Weigh In On Ardelyx
Large investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC grew its stake in shares of Ardelyx by 1,026.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 3,233 shares in the last quarter. HighMark Wealth Management LLC bought a new position in shares of Ardelyx in the 1st quarter valued at about $36,000. Redwood Wealth Management Group LLC purchased a new position in Ardelyx in the second quarter worth about $62,000. Coastal Bridge Advisors LLC bought a new stake in Ardelyx during the second quarter worth approximately $74,000. Finally, Jump Financial LLC purchased a new stake in Ardelyx during the fourth quarter valued at approximately $63,000. Institutional investors own 58.92% of the company’s stock.
Ardelyx Stock Up 3.6 %
ARDX opened at $6.89 on Friday. Ardelyx has a 1-year low of $3.16 and a 1-year high of $10.13. The firm’s 50 day simple moving average is $5.93 and its two-hundred day simple moving average is $6.55. The company has a current ratio of 4.21, a quick ratio of 3.99 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $1.60 billion, a PE ratio of -24.61 and a beta of 0.90.
Ardelyx (NASDAQ:ARDX – Get Free Report) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.04. The company had revenue of $73.20 million for the quarter, compared to the consensus estimate of $55.03 million. Ardelyx had a negative return on equity of 39.73% and a negative net margin of 31.02%. Ardelyx’s quarterly revenue was up 228.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.08) earnings per share. As a group, equities analysts forecast that Ardelyx will post -0.26 EPS for the current year.
About Ardelyx
Ardelyx, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines to treat gastrointestinal and cardiorenal therapeutic areas in the United States and internationally. The company's lead product candidate is tenapanor for the treatment of patients with irritable bowel syndrome with constipation.
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