Ardelyx (NASDAQ:ARDX) was downgraded by investment analysts at Wedbush from an “outperform” rating to a “neutral” rating in a research report issued on Tuesday, Price Targets.com reports. They presently have a $3.00 price objective on the biopharmaceutical company’s stock. Wedbush’s price target points to a potential upside of 55.84% from the company’s previous close.
Other research analysts have also issued research reports about the stock. Zacks Investment Research raised shares of Ardelyx from a “sell” rating to a “hold” rating in a research report on Monday, May 24th. Cowen set a $7.70 target price on shares of Ardelyx and gave the stock a “buy” rating in a research report on Tuesday. Finally, Piper Sandler downgraded shares of Ardelyx from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $14.00 to $4.00 in a report on Tuesday. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $8.34.
Ardelyx stock opened at $1.93 on Tuesday. The firm has a market cap of $190.01 million, a price-to-earnings ratio of -1.69 and a beta of 1.95. The company has a debt-to-equity ratio of 0.26, a quick ratio of 4.91 and a current ratio of 4.91. Ardelyx has a fifty-two week low of $1.81 and a fifty-two week high of $9.23. The stock’s fifty day moving average price is $7.15.
Several large investors have recently bought and sold shares of the company. Pacer Advisors Inc. increased its stake in Ardelyx by 66.9% in the first quarter. Pacer Advisors Inc. now owns 3,896 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 1,562 shares during the period. E Fund Management Co. Ltd. bought a new stake in Ardelyx in the first quarter valued at about $46,000. Royal Bank of Canada increased its stake in Ardelyx by 491.2% in the first quarter. Royal Bank of Canada now owns 9,997 shares of the biopharmaceutical company’s stock valued at $66,000 after acquiring an additional 8,306 shares during the period. Ergoteles LLC bought a new stake in Ardelyx in the first quarter valued at about $70,000. Finally, Brinker Capital Investments LLC bought a new stake in Ardelyx in the first quarter valued at about $73,000. Institutional investors own 85.74% of the company’s stock.
Ardelyx Company Profile
Ardelyx, Inc, a biopharmaceutical company, develops and sells medicines for the treatment of kidney and cardiorenal diseases in the United States and internationally. The company's lead product candidate is tenapanor, which has completed Phase 3 clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase 3 clinical trial for the treatment of hyperphosphatemia in end-stage renal disease patients on dialysis.
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