ValuEngine Upgrades Ardelyx (NASDAQ:ARDX) to Hold

Ardelyx (NASDAQ:ARDX) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Thursday, ValuEngine reports.

Separately, Piper Jaffray Companies began coverage on Ardelyx in a research note on Monday, April 8th. They set an “overweight” rating and a $15.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Ardelyx presently has a consensus rating of “Buy” and a consensus target price of $8.81.

ARDX traded down $0.08 on Thursday, hitting $2.34. 81,092 shares of the company’s stock traded hands, compared to its average volume of 86,517. The firm has a 50 day simple moving average of $2.56. The company has a market capitalization of $146.48 million, a price-to-earnings ratio of -1.44 and a beta of 1.87. Ardelyx has a one year low of $1.60 and a one year high of $4.60. The company has a current ratio of 7.41, a quick ratio of 7.41 and a debt-to-equity ratio of 0.58.

Ardelyx (NASDAQ:ARDX) last issued its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.03). Equities analysts predict that Ardelyx will post -1.52 EPS for the current fiscal year.

In other Ardelyx news, CEO Michael Raab sold 10,054 shares of Ardelyx stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $2.54, for a total value of $25,537.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 18,787 shares of company stock worth $47,753. Corporate insiders own 15.31% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its stake in Ardelyx by 4.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,644,481 shares of the biopharmaceutical company’s stock worth $2,944,000 after acquiring an additional 73,030 shares during the last quarter. Geode Capital Management LLC increased its stake in Ardelyx by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 680,329 shares of the biopharmaceutical company’s stock worth $1,217,000 after acquiring an additional 44,444 shares during the last quarter. Deutsche Bank AG increased its stake in Ardelyx by 578.4% in the 4th quarter. Deutsche Bank AG now owns 621,879 shares of the biopharmaceutical company’s stock worth $1,112,000 after acquiring an additional 530,206 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in Ardelyx by 67.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 512,977 shares of the biopharmaceutical company’s stock worth $918,000 after acquiring an additional 205,818 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in shares of Ardelyx by 56.4% during the 4th quarter. Squarepoint Ops LLC now owns 274,992 shares of the biopharmaceutical company’s stock valued at $492,000 after purchasing an additional 99,115 shares during the last quarter. 73.54% of the stock is currently owned by institutional investors and hedge funds.

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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