Ardelyx, Inc. (NASDAQ:ARDX – Get Rating) has earned an average rating of “Hold” from the nine brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $5.24.
A number of brokerages have commented on ARDX. Zacks Investment Research cut shares of Ardelyx from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. Cantor Fitzgerald cut shares of Ardelyx from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $7.00 to $1.00 in a research note on Friday, May 6th. Jefferies Financial Group upgraded shares of Ardelyx from a “hold” rating to a “buy” rating and lifted their target price for the company from $1.00 to $5.00 in a research note on Wednesday, March 2nd. Piper Sandler cut their target price on shares of Ardelyx from $4.00 to $3.00 and set a “neutral” rating for the company in a research note on Wednesday, May 18th. Finally, StockNews.com started coverage on shares of Ardelyx in a research note on Thursday, March 31st. They issued a “sell” rating for the company.
In related news, insider Susan Rodriguez sold 43,920 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $0.65, for a total value of $28,548.00. Following the completion of the transaction, the insider now owns 289,593 shares in the company, valued at approximately $188,235.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Raab sold 103,624 shares of the business’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $0.65, for a total transaction of $67,355.60. Following the completion of the transaction, the chief executive officer now owns 668,826 shares of the company’s stock, valued at approximately $434,736.90. The disclosure for this sale can be found here. Insiders sold a total of 229,997 shares of company stock valued at $149,681 in the last 90 days. 5.95% of the stock is currently owned by corporate insiders.
Shares of ARDX opened at $0.67 on Friday. The stock has a market cap of $96.88 million, a price-to-earnings ratio of -0.48 and a beta of 1.86. Ardelyx has a 12 month low of $0.58 and a 12 month high of $2.15. The company has a 50-day moving average price of $0.79 and a two-hundred day moving average price of $0.92.
Ardelyx (NASDAQ:ARDX – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The biopharmaceutical company reported ($0.21) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.01. Ardelyx had a negative net margin of 3,843.36% and a negative return on equity of 177.07%. During the same quarter in the previous year, the business earned ($0.34) earnings per share. On average, analysts expect that Ardelyx will post -0.72 earnings per share for the current fiscal year.
About Ardelyx (Get Rating)
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, 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 to control serum phosphorus in adult patients with chronic kidney disease (CKD)on dialysis, or hyperphosphatemia.
- Get a free copy of the StockNews.com research report on Ardelyx (ARDX)
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