Notable Runner: Could Ardelyx Inc Change Direction After Today’s Significant Decline?

Notable Runner: Could Ardelyx Inc Change Direction After Today's Significant Decline?

The stock of Ardelyx Inc (NASDAQ:ARDX) is a huge mover today! About 109,146 shares traded hands. Ardelyx Inc (NASDAQ:ARDX) has risen 92.35% since April 27, 2016 and is uptrending. It has outperformed by 87.13% the S&P500.
The move comes after 7 months negative chart setup for the $720.24M company. It was reported on Nov, 30 by Barchart.com. We have $13.62 PT which if reached, will make NASDAQ:ARDX worth $50.42M less.

Analysts await Ardelyx Inc (NASDAQ:ARDX) to report earnings on March, 3. They expect $-0.63 earnings per share, up 3.08% or $0.02 from last year’s $-0.65 per share. After $-0.65 actual earnings per share reported by Ardelyx Inc for the previous quarter, Wall Street now forecasts -3.08% EPS growth.

Ardelyx Inc (NASDAQ:ARDX) Ratings Coverage

Out of 5 analysts covering Ardelyx Inc (NASDAQ:ARDX), 5 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Ardelyx Inc has been the topic of 7 analyst reports since August 18, 2015 according to StockzIntelligence Inc. BTIG Research initiated Ardelyx Inc (NASDAQ:ARDX) on Friday, December 18 with “Buy” rating. Ladenburg Thalmann initiated the stock with “Buy” rating in Thursday, March 31 report. The rating was maintained by JMP Securities on Wednesday, March 9 with “Market Outperform”. The company was maintained on Wednesday, August 10 by Citigroup. The firm has “Buy” rating by BTIG Research given on Tuesday, September 22. As per Thursday, September 3, the company rating was maintained by Wedbush.

According to Zacks Investment Research, “Ardelyx, Inc. is a clinical-stage biopharmaceutical company. It discovers, develops and commercializes small molecule therapeutics that work in the gastrointestinal tract to treat cardio-renal, GI and metabolic diseases. The Company’s lead product candidate is Tenapanor which is in three ongoing Phase II clinical trials for the treatment of patients with ESRD-HD and chronic kidney disease, as well as for constipation-predominant irritable bowel syndrome. Ardelyx, Inc. is headquartered in Fremont, California.”

More notable recent Ardelyx Inc (NASDAQ:ARDX) news were published by: Marketwatch.com which released: “Ardelyx Inc. NASDAQ: ARDX” on June 19, 2014, also Prnewswire.com with their article: “Ardelyx Reports Third Quarter 2016 Financial Results and Recent Progress” published on November 07, 2016, Prnewswire.com published: “Ardelyx Strengthens Executive Leadership with the Appointment of Reginald …” on October 24, 2016. More interesting news about Ardelyx Inc (NASDAQ:ARDX) were released by: Prnewswire.com and their article: “Ardelyx to Announce Third Quarter 2016 Financial Results on November 7, 2016” published on October 31, 2016 as well as Quotes.Wsj.com‘s news article titled: “Ardelyx Inc. ARDX (US: Nasdaq)” with publication date: May 22, 2013.

ARDX Company Profile

Ardelyx, Inc., incorporated on October 18, 2007, is a clinical-stage biopharmaceutical firm focused on the discovery, development and commercialization of minimally systemic therapeutic drugs that work in the gastrointestinal (GI) tract to treat GI and cardio-renal diseases. The Firm operates through research, development and commercialization of biopharmaceutical products segment. The Firm has developed drug discovery and design platform to discover and design drug candidates. Utilizing its platform, the Company has discovered and designed its lead product candidate, tenapanor. The Company’s development programs also include RDX009 Program, RDX013 Program and RDX011 Program. The Firm also owns NaP2b inhibitor compounds. NaP2b is an intestinal transporter of dietary phosphorus.

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