ARDX Stock: Ardelyx, Inc PT Set at $12.00 by Cantor Fitzgerald

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Ardelyx, Inc. (NASDAQ:ARDX) has been given a $12.00 price objective by analysts at Cantor Fitzgerald in a note issued to investors on Tuesday. The brokerage presently has a “buy” rating on the biopharmaceutical company’s stock. Cantor Fitzgerald’s target price would suggest a potential upside of 101.68% from the company’s current price.

Several other equities analysts have also commented on ARDX. Ladenburg Thalmann Financial Services decreased their price objective on shares of Ardelyx from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, November 22nd. Zacks Investment Research upgraded shares of Ardelyx from a “sell” rating to a “buy” rating and set a $6.50 price objective on the stock in a report on Friday, November 10th. Leerink Swann restated an “outperform” rating and issued a $13.00 price objective on shares of Ardelyx in a report on Tuesday, October 17th. Citigroup Inc. upped their price objective on shares of Ardelyx from $14.00 to $19.00 and gave the stock a “buy” rating in a report on Thursday, October 12th. Finally, ValuEngine lowered shares of Ardelyx from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $14.64.

Ardelyx (NASDAQ:ARDX) last posted its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.10. During the same quarter last year, the business earned ($0.65) earnings per share. equities research analysts expect that Ardelyx will post -2.05 earnings per share for the current fiscal year.

In other Ardelyx news, COO Reginald Seeto sold 10,008 shares of the stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $5.20, for a total value of $52,041.60. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 15.47% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Alliancebernstein L.P. increased its position in shares of Ardelyx by 7.9% in the 1st quarter. Alliancebernstein L.P. now owns 13,700 shares of the biopharmaceutical company’s stock valued at $173,000 after purchasing an additional 1,000 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Ardelyx by 8.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 27,581 shares of the biopharmaceutical company’s stock valued at $141,000 after purchasing an additional 2,252 shares during the last quarter. Bank of America Corp DE increased its position in shares of Ardelyx by 52.6% in the 1st quarter. Bank of America Corp DE now owns 10,612 shares of the biopharmaceutical company’s stock valued at $134,000 after purchasing an additional 3,659 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Ardelyx by 18.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,252 shares of the biopharmaceutical company’s stock valued at $159,000 after purchasing an additional 4,871 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Ardelyx by 15.6% in the 2nd quarter. Rhumbline Advisers now owns 40,516 shares of the biopharmaceutical company’s stock valued at $207,000 after purchasing an additional 5,465 shares during the last quarter.

Ardelyx Company Profile

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.

Analyst Recommendations for Ardelyx (NASDAQ:ARDX)

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