Ardelyx (NASDAQ:ARDX - Get Free Report) was downgraded by research analysts at HC Wainwright from a "buy" rating to a "neutral" rating in a research report issued on Monday,Finviz reports. They presently have a $5.50 target price on the biopharmaceutical company's stock, down from their prior target price of $11.00. HC Wainwright's target price points to a potential upside of 8.48% from the stock's previous close.
Other equities research analysts have also issued reports about the stock. StockNews.com raised shares of Ardelyx from a "sell" rating to a "hold" rating in a report on Wednesday, July 31st. Citigroup dropped their target price on Ardelyx from $12.00 to $10.00 and set a "buy" rating on the stock in a research report on Monday, November 4th. Finally, Wedbush restated an "outperform" rating and set a $11.00 price objective on shares of Ardelyx in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $10.42.
Get Our Latest Analysis on Ardelyx
NASDAQ ARDX opened at $5.07 on Monday. The company has a quick ratio of 3.87, a current ratio of 4.03 and a debt-to-equity ratio of 0.64. Ardelyx has a fifty-two week low of $3.43 and a fifty-two week high of $10.13. The business has a 50 day moving average price of $6.04 and a two-hundred day moving average price of $6.30. The stock has a market cap of $1.20 billion, a PE ratio of -16.90 and a beta of 0.92.
In related news, CEO Michael Raab sold 35,000 shares of the company's stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $5.61, for a total transaction of $196,350.00. Following the sale, the chief executive officer now directly owns 1,220,608 shares of the company's stock, valued at approximately $6,847,610.88. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider David P. Rosenbaum sold 20,507 shares of Ardelyx stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $6.00, for a total value of $123,042.00. Following the completion of the transaction, the insider now directly owns 158,502 shares of the company's stock, valued at approximately $951,012. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Raab sold 35,000 shares of the stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $5.61, for a total transaction of $196,350.00. Following the sale, the chief executive officer now owns 1,220,608 shares in the company, valued at approximately $6,847,610.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 265,240 shares of company stock worth $1,619,362. 5.90% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC boosted its position in Ardelyx by 1,026.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 3,233 shares during the period. Redwood Wealth Management Group LLC acquired a new position in shares of Ardelyx during the second quarter valued at $62,000. Coastal Bridge Advisors LLC bought a new position in shares of Ardelyx during the second quarter worth about $74,000. Helen Stephens Group LLC acquired a new stake in shares of Ardelyx in the 3rd quarter worth about $76,000. Finally, Paloma Partners Management Co bought a new stake in Ardelyx in the 1st quarter valued at about $86,000. 58.92% of the stock is owned by institutional investors.
Ardelyx, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines to treat gastrointestinal and cardiorenal therapeutic areas in the United States and internationally. The company's lead product candidate is tenapanor for the treatment of patients with irritable bowel syndrome with constipation.
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