Ardelyx (NASDAQ:ARDX) Trading 6.4% Higher

Shares of Ardelyx Inc (NASDAQ:ARDX) traded up 6.4% on Tuesday . The company traded as high as $7.27 and last traded at $7.26, 1,463,058 shares were traded during trading. An increase of 170% from the average session volume of 542,060 shares. The stock had previously closed at $6.83.

A number of research analysts have recently weighed in on the company. Svb Leerink lifted their price target 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 report on Monday, November 11th. Leerink Swann set a $9.00 price target on Ardelyx and gave the company a “buy” rating in a report on Tuesday, September 24th. BidaskClub downgraded Ardelyx from a “buy” rating to a “hold” rating in a report on Saturday, November 23rd. Finally, Jefferies Financial Group lifted their price target on Ardelyx from $6.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. Ardelyx currently has a consensus rating of “Hold” and a consensus target price of $9.25.

The company has a debt-to-equity ratio of 1.07, a current ratio of 6.27 and a quick ratio of 6.27. The firm has a market cap of $429.68 million, a PE ratio of -4.48 and a beta of 1.76. The business has a fifty day moving average price of $6.08 and a two-hundred day moving average price of $4.05.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.37) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.37). The business had revenue of $3.01 million for the quarter. As a group, sell-side analysts forecast that Ardelyx Inc will post -1.54 EPS for the current fiscal year.

In other Ardelyx news, CFO Mark Kaufmann sold 20,000 shares of the business’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $4.56, for a total value of $91,200.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Elizabeth A. Grammer sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $6.80, for a total value of $34,000.00. Insiders have sold 30,000 shares of company stock worth $160,200 in the last quarter. 15.31% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of ARDX. California State Teachers Retirement System boosted its stake in shares of Ardelyx by 6.1% during the 3rd quarter. California State Teachers Retirement System now owns 73,491 shares of the biopharmaceutical company’s stock worth $345,000 after acquiring an additional 4,198 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Ardelyx by 9.0% during the 3rd quarter. Rhumbline Advisers now owns 73,239 shares of the biopharmaceutical company’s stock worth $344,000 after acquiring an additional 6,022 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of Ardelyx during the 2nd quarter worth about $29,000. Citadel Advisors LLC bought a new stake in shares of Ardelyx during the 2nd quarter worth about $37,000. Finally, Northern Trust Corp boosted its stake in shares of Ardelyx by 2.8% during the 2nd quarter. Northern Trust Corp now owns 530,420 shares of the biopharmaceutical company’s stock worth $1,427,000 after acquiring an additional 14,315 shares in the last quarter. Hedge funds and other institutional investors own 77.17% of the company’s stock.

Ardelyx Company Profile (NASDAQ:ARDX)

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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