Ardelyx (NASDAQ:ARDX) had its target price lifted by Jefferies Financial Group from $6.00 to $11.00 in a research note published on Tuesday morning, The Fly reports. Jefferies Financial Group currently has a buy rating on the biopharmaceutical company’s stock. Jefferies Financial Group also issued estimates for Ardelyx’s Q4 2019 earnings at ($0.39) EPS, FY2019 earnings at ($1.58) EPS, FY2020 earnings at ($1.59) EPS, FY2021 earnings at ($2.08) EPS, FY2022 earnings at ($0.23) EPS and FY2023 earnings at $0.37 EPS.
Several other analysts also recently issued reports on ARDX. Piper Jaffray Companies set a $15.00 price target on Ardelyx and gave the company a buy rating in a research note on Thursday, October 17th. Svb Leerink upped their price objective on Ardelyx from $8.00 to $9.00 and gave the company 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 research report on Monday, November 11th. BidaskClub downgraded Ardelyx from a buy rating to a hold rating in a report on Saturday, November 23rd. Finally, Leerink Swann set a $9.00 target price on Ardelyx and gave the stock a buy rating in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $9.25.
Shares of NASDAQ:ARDX traded down $0.17 during trading on Tuesday, reaching $6.63. 443,408 shares of the stock were exchanged, compared to its average volume of 533,250. Ardelyx has a 12 month low of $1.60 and a 12 month high of $8.31. The stock has a 50-day moving average price of $5.86 and a 200-day moving average price of $3.95. The company has a current ratio of 6.27, a quick ratio of 6.27 and a debt-to-equity ratio of 1.07. The firm has a market cap of $427.15 million, a PE ratio of -4.09 and a beta of 1.76.
Ardelyx (NASDAQ:ARDX) last announced its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.37). The firm had revenue of $3.01 million for the quarter. On average, sell-side analysts expect that Ardelyx will post -1.55 earnings per share for the current fiscal year.
In other news, EVP Elizabeth A. Grammer sold 5,000 shares of Ardelyx stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $6.80, for a total value of $34,000.00. Also, CFO Mark Kaufmann sold 20,000 shares of Ardelyx stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $4.56, for a total transaction of $91,200.00. The disclosure for this sale can be found here. Insiders sold a total of 30,000 shares of company stock valued at $160,200 in the last three months. Insiders own 15.31% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. Jane Street Group LLC bought a new position in Ardelyx during the 2nd quarter worth $29,000. Citadel Advisors LLC acquired a new position in Ardelyx in the 2nd quarter valued at $37,000. SG Americas Securities LLC bought a new stake in shares of Ardelyx during the 2nd quarter valued at $69,000. Metropolitan Life Insurance Co NY bought a new stake in shares of Ardelyx during the 3rd quarter valued at $86,000. Finally, Tower Research Capital LLC TRC bought a new stake in shares of Ardelyx during the 3rd quarter valued at $87,000. Institutional investors and hedge funds own 77.14% of the company’s stock.
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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