Ardelyx (ARDX) Downgraded by BidaskClub to “Sell”

BidaskClub cut shares of Ardelyx (NASDAQ:ARDX) from a hold rating to a sell rating in a research note released on Wednesday morning.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Ardelyx from a buy rating to a hold rating in a report on Friday, February 2nd. Wedbush restated an outperform rating and set a $12.00 price target (down from $13.00) on shares of Ardelyx in a report on Tuesday, November 28th. Cantor Fitzgerald restated a buy rating and set a $12.00 price target on shares of Ardelyx in a report on Tuesday, November 21st. Ladenburg Thalmann Financial Services decreased their price target on shares of Ardelyx from $19.00 to $16.00 and set a buy rating for the company in a report on Wednesday, November 22nd. Finally, Citigroup upped their price target on shares of Ardelyx from $16.00 to $17.00 and gave the company a buy rating in a report on Wednesday, November 29th. Two analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $12.93.

Ardelyx (NASDAQ ARDX) traded down $0.05 during mid-day trading on Wednesday, reaching $5.75. 376,000 shares of the company’s stock were exchanged, compared to its average volume of 293,929. Ardelyx has a one year low of $4.05 and a one year high of $15.40. The company has a market capitalization of $275.70, a PE ratio of -2.58 and a beta of 0.44.

A number of hedge funds have recently added to or reduced their stakes in the business. Parametric Portfolio Associates LLC lifted its stake in shares of Ardelyx by 8.9% in the second quarter. Parametric Portfolio Associates LLC now owns 27,581 shares of the biopharmaceutical company’s stock valued at $141,000 after buying an additional 2,252 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Ardelyx by 18.5% in the second quarter. The Manufacturers Life Insurance Company now owns 31,252 shares of the biopharmaceutical company’s stock valued at $159,000 after buying an additional 4,871 shares during the period. Teachers Advisors LLC lifted its stake in shares of Ardelyx by 2.5% in the second quarter. Teachers Advisors LLC now owns 314,562 shares of the biopharmaceutical company’s stock valued at $1,604,000 after buying an additional 7,627 shares during the period. TIAA CREF Investment Management LLC lifted its stake in shares of Ardelyx by 10.3% in the fourth quarter. TIAA CREF Investment Management LLC now owns 94,898 shares of the biopharmaceutical company’s stock valued at $626,000 after buying an additional 8,869 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Ardelyx by 17.8% in the second quarter. Goldman Sachs Group Inc. now owns 61,139 shares of the biopharmaceutical company’s stock valued at $312,000 after buying an additional 9,219 shares during the period. Institutional investors own 74.83% of the company’s stock.

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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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