Health Care

Ardelyx Inc. Cmn (NASDAQ:ARDX) Moving Today - Up by 12.50%

Ardelyx Inc. Cmn (NASDAQ:ARDX) Moving Today - Up by 12.50%”

Equity analyst Cantor Fitzgerald updated guidance on ARDX and giving a rating of "Buy" and a price target of $12.00. The stock has been active on the tape, now trading at $6.30, up from yesterday's close by 12.50%.

On the other hand the company has Relative Strength Index (RSI 14) of 61.85 along with Average True Range (ATR 14) of 0.44, Consequently Ardelyx Inc Cmn (NASDAQ:ARDX)'s weekly and monthly volatility is 7.64%, 6.91% respectively. It discovers, develops and commercializes small molecule therapeutics that work in the gastrointestinal tract to treat cardio-renal, GI and metabolic diseases. The third largest holder is Blackrock Inc., which now holds $14.73 million worth of this stock and that ownership represents almost 4.93% of its market capitalization.

A number of other analysts have also recently issued reports on the stock. BTIG Research maintained the shares of ARDX in report on Friday, October 13 with "Buy" rating.

Citigroup raised the price target on October 12 changing the price objective from $14.00 to $19.00 with a "Buy" recommendation.

Additionally on 10/12/17 Cantor Fitzgerald "Maintained" Ardelyx Inc Cmn (NASDAQ:ARDX) to Overweight setting price target at $14 and on 8/10/16 Citigroup "Maintained" the stock to Buy at $13. Wedbush maintained the shares of ARDX in report on Thursday, September 3 with "Buy" rating. The rating was maintained by Cantor Fitzgerald with "Buy" on Monday, August 28. The stock of Ardelyx Inc (NASDAQ:ARDX) has "Buy" rating given on Friday, December 18 by BTIG Research.

Ardelyx, Inc. (ARDX) is an interesting player in the Healthcare space, with a focus on Biotechnology. More than 1 shares have been traded. You can get a sense of how sustainable that is by a levered free cash flow of $-101.54 Million over the past twelve months.

At the end of 09/30/2017 reporting period, 42 institutional holders increased their position in Ardelyx, Inc. The biopharmaceutical company reported ($0.44) EPS for the quarter, topping the consensus estimate of ($0.54) by $0.10.

Previously Ardelyx Inc Cmn (NASDAQ:ARDX) reported $-0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $-0.54 by $0.1.

TRADEMARK VIOLATION NOTICE: This news story was originally published by TrueBlueTribune and is the sole property of of TrueBlueTribune. The stock grabbed 8 new institutional investments totaling 476,502 shares while 11 institutional investors sold out their entire positions totaling 306,202 shares. The insider, SEETO REGINALD, now holds 149,885 shares of ARDX. In a transaction dated April. 18, 2017, the shares were put up for sale at an average price of $11.98, raking in a sum of $24,571. The sale was disclosed in a filing with the SEC, which is available at this link. As of the end of the quarter Tudor Investment Corp ET AL had acquired 903 shares growing its position 4.2%. With short interest at 1,224,464 and short average daily volume at 3,410,044, the short-interest ratio is 0.0 and the percentage of shorted shares is 0.03% as of October 13. Finally, Willingdon Wealth Management bought a new stake in shares of Ardelyx in the 2nd quarter valued at about $134,000.



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