Candriam Luxembourg S.C.A. Purchases Shares of 300,000 Ardelyx Inc (ARDX)

Candriam Luxembourg S.C.A. purchased a new stake in Ardelyx Inc (NASDAQ:ARDX) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 300,000 shares of the biopharmaceutical company’s stock, valued at approximately $1,980,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ARDX. Schwab Charles Investment Management Inc. increased its holdings in shares of Ardelyx by 30.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 64,340 shares of the biopharmaceutical company’s stock valued at $329,000 after acquiring an additional 15,100 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Ardelyx by 341.6% in the 2nd quarter. Alliancebernstein L.P. now owns 60,500 shares of the biopharmaceutical company’s stock valued at $309,000 after acquiring an additional 46,800 shares during the last quarter. Teachers Advisors LLC increased its holdings in shares of Ardelyx by 2.5% in the 2nd quarter. Teachers Advisors LLC now owns 314,562 shares of the biopharmaceutical company’s stock valued at $1,604,000 after acquiring an additional 7,627 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Ardelyx by 2.8% in the 2nd quarter. Northern Trust Corp now owns 367,753 shares of the biopharmaceutical company’s stock valued at $1,876,000 after acquiring an additional 9,941 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Ardelyx by 3.9% in the 2nd quarter. Vanguard Group Inc. now owns 1,277,634 shares of the biopharmaceutical company’s stock valued at $6,516,000 after acquiring an additional 48,077 shares during the last quarter. Institutional investors and hedge funds own 77.52% of the company’s stock.

A number of brokerages recently commented on ARDX. BidaskClub downgraded Ardelyx from a “hold” rating to a “sell” rating in a research note on Wednesday, February 14th. Cantor Fitzgerald set a $12.00 price objective on Ardelyx and gave the stock a “buy” rating in a research note on Monday, February 12th. Zacks Investment Research downgraded Ardelyx from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. ValuEngine downgraded Ardelyx from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Finally, Citigroup upped their price objective on Ardelyx from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday, November 29th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $12.93.

Ardelyx Inc (NASDAQ:ARDX) opened at $5.80 on Tuesday. Ardelyx Inc has a 52 week low of $4.05 and a 52 week high of $15.40.

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About Ardelyx

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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Institutional Ownership by Quarter for Ardelyx (NASDAQ:ARDX)

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