Ardelyx (ARDX) Downgraded to Sell at ValuEngine

Ardelyx (NASDAQ:ARDX) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Monday, ValuEngine reports.

Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Ardelyx from a “buy” rating to a “hold” rating in a research report on Wednesday, March 20th. Piper Jaffray Companies began coverage on shares of Ardelyx in a research report on Monday, April 8th. They issued an “overweight” rating and a $15.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $8.81.

NASDAQ ARDX opened at $3.15 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 9.95 and a current ratio of 7.41. Ardelyx has a 1 year low of $1.60 and a 1 year high of $5.90. The firm has a market cap of $189.05 million, a price-to-earnings ratio of -1.94 and a beta of 1.95.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.42) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.03). Equities research analysts anticipate that Ardelyx will post -1.5 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of ARDX. Pekin Singer Strauss Asset Management IL raised its position in shares of Ardelyx by 164.3% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 2,639,952 shares of the biopharmaceutical company’s stock valued at $4,726,000 after purchasing an additional 1,641,037 shares during the period. Deutsche Bank AG raised its position in shares of Ardelyx by 578.4% in the fourth quarter. Deutsche Bank AG now owns 621,879 shares of the biopharmaceutical company’s stock valued at $1,112,000 after purchasing an additional 530,206 shares during the period. Renaissance Technologies LLC raised its position in shares of Ardelyx by 52.4% in the third quarter. Renaissance Technologies LLC now owns 1,181,000 shares of the biopharmaceutical company’s stock valued at $5,137,000 after purchasing an additional 405,860 shares during the period. BlackRock Inc. raised its position in shares of Ardelyx by 8.4% in the third quarter. BlackRock Inc. now owns 3,880,606 shares of the biopharmaceutical company’s stock valued at $16,881,000 after purchasing an additional 302,147 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Ardelyx by 21.6% in the third quarter. Dimensional Fund Advisors LP now owns 1,571,451 shares of the biopharmaceutical company’s stock valued at $6,836,000 after purchasing an additional 278,770 shares during the period. 75.19% of the stock is currently owned by institutional investors.

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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