Ardelyx (NASDAQ:ARDX) Earns Outperform Rating from Analysts at Cowen

Cowen assumed coverage on shares of Ardelyx (NASDAQ:ARDX) in a report released on Monday morning, AnalystRatings.com reports. The brokerage issued an outperform rating on the biopharmaceutical company’s stock.

Several other analysts also recently issued reports on ARDX. Zacks Investment Research raised Ardelyx from a sell rating to a hold rating in a research note on Monday, November 11th. Piper Jaffray Companies set a $15.00 price objective on Ardelyx and gave the stock a buy rating in a research note on Thursday, October 17th. BidaskClub downgraded Ardelyx from a hold rating to a sell rating in a research note on Saturday, February 1st. Jefferies Financial Group lifted their price objective on Ardelyx from $6.00 to $11.00 and gave the stock a buy rating in a research note on Tuesday, December 3rd. Finally, ValuEngine downgraded Ardelyx from a sell rating to a strong sell rating in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $11.40.

Shares of ARDX opened at $7.68 on Monday. The business’s 50 day moving average is $7.28 and its 200 day moving average is $5.59. The company has a market capitalization of $505.35 million, a PE ratio of -4.65 and a beta of 2.01. Ardelyx has a 12-month low of $2.10 and a 12-month high of $8.49. The company has a current ratio of 6.27, a quick ratio of 6.27 and a debt-to-equity ratio of 1.07.

In other Ardelyx news, EVP Elizabeth A. Grammer sold 5,000 shares of Ardelyx stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $6.80, for a total transaction of $34,000.00. Also, CEO Michael Raab sold 25,000 shares of Ardelyx stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $7.32, for a total value of $183,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 35,000 shares of company stock valued at $252,000. 15.31% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. boosted its stake in shares of Ardelyx by 21.0% in the fourth quarter. Victory Capital Management Inc. now owns 9,547 shares of the biopharmaceutical company’s stock worth $68,000 after buying an additional 1,657 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Ardelyx by 43.2% in the fourth quarter. Meeder Asset Management Inc. now owns 6,969 shares of the biopharmaceutical company’s stock valued at $52,000 after purchasing an additional 2,104 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Ardelyx by 6.1% in the third quarter. California State Teachers Retirement System now owns 73,491 shares of the biopharmaceutical company’s stock valued at $345,000 after purchasing an additional 4,198 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Ardelyx by 9.0% in the third quarter. Rhumbline Advisers now owns 73,239 shares of the biopharmaceutical company’s stock valued at $344,000 after purchasing an additional 6,022 shares during the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of Ardelyx in the second quarter valued at approximately $29,000. 75.16% of the stock is owned by institutional investors and hedge funds.

Ardelyx Company Profile

Ardelyx, Inc, a specialized biopharmaceutical company, develops and sells medicines for the treatment of cardio renal diseases 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 for the treatment of hyperphosphatemia in end-stage renal disease patients on dialysis.

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Analyst Recommendations for Ardelyx (NASDAQ:ARDX)

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