ClariVest Asset Management LLC Acquires 14,600 Shares of Ardelyx Inc (ARDX)

ClariVest Asset Management LLC increased its holdings in shares of Ardelyx Inc (NASDAQ:ARDX) by 20.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 84,300 shares of the biopharmaceutical company’s stock after buying an additional 14,600 shares during the period. ClariVest Asset Management LLC owned about 0.14% of Ardelyx worth $367,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Marshall Wace LLP increased its stake in Ardelyx by 132.9% during the 2nd quarter. Marshall Wace LLP now owns 27,359 shares of the biopharmaceutical company’s stock worth $101,000 after buying an additional 15,610 shares during the period. Cubist Systematic Strategies LLC increased its stake in Ardelyx by 173.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 32,266 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 20,458 shares during the period. Alps Advisors Inc. increased its stake in Ardelyx by 25.9% during the 3rd quarter. Alps Advisors Inc. now owns 109,813 shares of the biopharmaceutical company’s stock worth $478,000 after buying an additional 22,590 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Ardelyx by 25.7% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 136,534 shares of the biopharmaceutical company’s stock worth $505,000 after buying an additional 27,903 shares during the period. Finally, Northern Trust Corp increased its stake in Ardelyx by 11.0% during the 2nd quarter. Northern Trust Corp now owns 412,398 shares of the biopharmaceutical company’s stock worth $1,527,000 after buying an additional 40,804 shares during the period. 75.87% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:ARDX opened at $2.85 on Friday. Ardelyx Inc has a 52 week low of $2.53 and a 52 week high of $8.10. The company has a quick ratio of 12.83, a current ratio of 12.83 and a debt-to-equity ratio of 0.35.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings data on Wednesday, November 7th. The biopharmaceutical company reported ($0.39) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.41) by $0.02. Equities analysts anticipate that Ardelyx Inc will post -1.57 earnings per share for the current fiscal year.

A number of brokerages have commented on ARDX. Jefferies Financial Group began coverage on shares of Ardelyx in a research report on Friday, August 24th. They issued a “buy” rating and a $7.00 price objective on the stock. Zacks Investment Research downgraded shares of Ardelyx from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. Citigroup dropped their price objective on shares of Ardelyx from $17.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, August 9th. Finally, BidaskClub raised shares of Ardelyx from a “sell” rating to a “hold” rating in a research report on Friday, September 28th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $9.96.

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Ardelyx Profile

Ardelyx, Inc, a specialized biopharmaceutical company, develops and sells disruptive medicines for the treatment of cardio renal and gastrointestinal diseases in the United States and Asia Pacific. The company's lead product candidate is tenapanor, which has completed Phase III clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase III clinical trial for the treatment of hyperphosphatemia in end-stage renal disease patients on dialysis.

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Institutional Ownership by Quarter for Ardelyx (NASDAQ:ARDX)

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