Several brokerages have updated their recommendations and price targets on shares of Ardelyx (NASDAQ: ARDX) in the last few weeks:

• 8/20/2015 – Ardelyx was downgraded by analysts at Zacks from a “strong-buy” rating to a “hold” rating. According to Zacks, “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. “
• 8/19/2015 – Ardelyx had its “buy” rating reaffirmed by analysts at Wedbush.
• 8/18/2015 – Ardelyx had its price target raised by analysts at Wedbush from $19.00 to $24.00. They now have an “outperform” rating on the stock.
• 8/4/2015 – Ardelyx was upgraded by analysts at Zacks from a “strong sell” rating to a “buy” rating. They now have a $22.00 price target on the stock. According to Zacks, “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. “

Ardelyx Inc (NASDAQ:ARDX) opened at 17.41 on Monday. The firm has a market capitalization of $451.34 million and a price-to-earnings ratio of 146.30. Ardelyx Inc has a 12 month low of $7.95 and a 12 month high of $35.48. The company has a 50 day moving average price of $18.12 and a 200 day moving average price of $14.92.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings results on Wednesday, August 12th. The biopharmaceutical company reported $0.42 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.33. The business had revenue of $17.70 million for the quarter, compared to the consensus estimate of $25.87 million. Analysts anticipate that Ardelyx Inc will post ($1.11) earnings per share for the current fiscal year.

In related news, VP Elizabeth A. Grammer sold 2,500 shares of the stock in a transaction dated Wednesday, July 22nd. The stock was sold at an average price of $18.00, for a total transaction of $45,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Elizabeth A. Grammer sold 10,000 shares of the stock in a transaction dated Wednesday, July 15th. The shares were sold at an average price of $17.12, for a total value of $171,200.00. The disclosure for this sale can be found here.

Ardelyx, Inc. is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of minimally-systemic, small molecule therapeutics that work exclusively in the gastrointestinal (NASDAQ:ARDX) tract to treat cardio-renal, GI and metabolic diseases. The Company utilizing its platform, discovered and designed its lead product candidate, tenapanor, which in clinical studies has demonstrated the ability to improve the symptoms of constipation-predominant irritable bowel syndrome (IBS-C) and to reduce the absorption of both dietary sodium and phosphorus. The Company in collaboration with AstraZeneca, has completed a Phase IIb clinical trial evaluating tenapanor in patients with IBS-C. It also has other product candidates under development, such as RDX002 for the treatment of Hyperphosphatemia, RDX009 for the treatment of IBD, Short Bowel Syndrome and non-alcoholic steatohepatitis (NASH), and RDX013 for the treatment of hyperkalemia.

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