Ardelyx (NASDAQ:ARDX) Lowered to Strong Sell at ValuEngine

ValuEngine lowered shares of Ardelyx (NASDAQ:ARDX) from a sell rating to a strong sell rating in a report issued on Tuesday morning, ValuEngine reports.

A number of other brokerages also recently weighed in on ARDX. Jefferies Financial Group boosted their price target on Ardelyx from $6.00 to $11.00 and gave the stock a buy rating in a research report on Tuesday, December 3rd. Svb Leerink boosted their price objective on Ardelyx from $8.00 to $9.00 and gave the stock an outperform rating in a report on Tuesday, September 24th. Zacks Investment Research upgraded Ardelyx from a sell rating to a hold rating in a report on Monday, November 11th. Leerink Swann set a $9.00 price objective on Ardelyx and gave the stock a buy rating in a report on Tuesday, September 24th. Finally, BidaskClub cut Ardelyx from a buy rating to a hold rating in a report on Saturday, November 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. Ardelyx currently has a consensus rating of Hold and a consensus price target of $9.25.

ARDX opened at $7.14 on Tuesday. The business’s 50-day moving average price is $7.38 and its two-hundred day moving average price is $4.96. Ardelyx has a 1 year low of $1.86 and a 1 year high of $8.49. The company has a market capitalization of $469.82 million, a price-to-earnings ratio of -4.41 and a beta of 1.72. The company has a debt-to-equity ratio of 1.07, a current ratio of 6.27 and a quick ratio of 6.27.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.37). The firm had revenue of $3.01 million during the quarter. Sell-side analysts anticipate that Ardelyx will post -1.54 earnings per share for the current fiscal year.

In other news, EVP Elizabeth A. Grammer sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $6.80, for a total transaction of $34,000.00. Insiders own 15.31% of the company’s stock.

Large investors have recently modified their holdings of the company. Virtu Financial LLC boosted its holdings in shares of Ardelyx by 162.0% during the third quarter. Virtu Financial LLC now owns 34,743 shares of the biopharmaceutical company’s stock worth $163,000 after acquiring an additional 21,480 shares during the period. State Street Corp boosted its stake in shares of Ardelyx by 5.8% in the third quarter. State Street Corp now owns 920,901 shares of the biopharmaceutical company’s stock valued at $4,328,000 after buying an additional 50,495 shares during the period. Rhumbline Advisers boosted its stake in shares of Ardelyx by 9.0% in the third quarter. Rhumbline Advisers now owns 73,239 shares of the biopharmaceutical company’s stock valued at $344,000 after buying an additional 6,022 shares during the period. California State Teachers Retirement System boosted its stake in shares of Ardelyx by 6.1% in the third quarter. California State Teachers Retirement System now owns 73,491 shares of the biopharmaceutical company’s stock valued at $345,000 after buying an additional 4,198 shares during the period. Finally, Metropolitan Life Insurance Co NY bought a new stake in shares of Ardelyx in the third quarter valued at approximately $86,000. Institutional investors own 73.77% of the company’s stock.

About Ardelyx

Ardelyx, Inc, a specialized biopharmaceutical company, develops and sells medicines for the treatment of cardio renal diseases in the United States and internationally. 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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