Shares of Ardelyx, Inc. (NASDAQ:ARDX – Get Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $10.42.
Several research analysts have weighed in on the company. HC Wainwright cut Ardelyx from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $11.00 to $5.50 in a research report on Monday, November 11th. Citigroup lowered their target price on Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, November 4th.
View Our Latest Analysis on Ardelyx
Ardelyx Price Performance
Insider Activity at Ardelyx
In other news, CEO Michael Raab sold 25,000 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $5.26, for a total value of $131,500.00. Following the completion of the transaction, the chief executive officer now directly owns 1,150,385 shares of the company’s stock, valued at $6,051,025.10. This trade represents a 2.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Justin A. Renz sold 5,260 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $4.79, for a total value of $25,195.40. Following the sale, the chief financial officer now owns 291,139 shares in the company, valued at approximately $1,394,555.81. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 236,756 shares of company stock worth $1,374,538. Company insiders own 5.90% of the company’s stock.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in ARDX. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Ardelyx by 3.4% in the third quarter. B. Riley Wealth Advisors Inc. now owns 90,000 shares of the biopharmaceutical company’s stock worth $599,000 after buying an additional 3,000 shares in the last quarter. Geode Capital Management LLC increased its holdings in Ardelyx by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 5,487,742 shares of the biopharmaceutical company’s stock worth $37,818,000 after acquiring an additional 17,296 shares during the period. Barclays PLC increased its holdings in Ardelyx by 24.9% during the 3rd quarter. Barclays PLC now owns 547,325 shares of the biopharmaceutical company’s stock worth $3,770,000 after acquiring an additional 109,285 shares during the period. State Street Corp lifted its stake in Ardelyx by 1.5% in the 3rd quarter. State Street Corp now owns 12,141,850 shares of the biopharmaceutical company’s stock worth $83,657,000 after purchasing an additional 176,789 shares in the last quarter. Finally, Parallax Volatility Advisers L.P. bought a new position in Ardelyx in the 3rd quarter valued at $506,000. Institutional investors own 58.92% of the company’s stock.
Ardelyx Company Profile
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.
Featured Articles
- Five stocks we like better than Ardelyx
- Why is the Ex-Dividend Date Significant to Investors?
- Why Hershey Stock Has More Room to Run Despite Takeover Rejection
- Learn Technical Analysis Skills to Master the Stock Market
- Texas Instruments: The Old-School Tech Titan Still Delivering
- What Do S&P 500 Stocks Tell Investors About the Market?
- GRAIL: Biotech Stock Targeting $100B Cancer Market
Receive News & Ratings for Ardelyx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ardelyx and related companies with MarketBeat.com's FREE daily email newsletter.