Ardelyx (ARDX) : 5 Wall Street analysts covering Ardelyx (ARDX) believe that the average level the stock could reach for the short term is $23. The maximum price target given is $33 and the minimum target for short term is around $18, hence the standard deviation is calculated at $6.04.
Ardelyx (ARDX) : 5 analysts are covering Ardelyx (ARDX) and their average rating on the stock is 1, which is read as a Strong Buy. 5 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels.
Also, Equity Analysts at the Brokerage Firm, Citigroup, maintains their rating on the shares of Ardelyx (NASDAQ:ARDX). Citigroup has a Buy rating on the shares. As per the latest research report, the brokerage house lowers the price target to $13 per share from a prior target of $14. The rating by the firm was issued on August 10, 2016.
Ardelyx (NASDAQ:ARDX): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $9.93 and $9.77 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $10.41. The buying momentum continued till the end and the stock did not give up its gains. It closed at $10.32, notching a gain of 3.51% for the day. The total traded volume was 250,534 . The stock had closed at $9.97 on the previous day.
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 (GI) 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.