Piper Sandler Sticks to Its Buy Rating for Ardelyx (ARDX)

In a report released today, Christopher Raymond from Piper Sandler maintained a Buy rating on Ardelyx (ARDX – Research Report), with a price target of $15.00. The company’s shares closed last Friday at $6.48.

Raymond covers the Healthcare sector, focusing on stocks such as Biogen, BioMarin Pharmaceutical, and Vertex Pharmaceuticals. According to TipRanks, Raymond has an average return of 3.6% and a 48.80% success rate on recommended stocks.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ardelyx with a $13.20 average price target.

ARDX market cap is currently $1.51B and has a P/E ratio of -21.32.

Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ARDX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Ardelyx (ARDX) Company Description:

Ardelyx, Inc. is a biopharmaceutical company, which engages in the research, development and commercialization of medicine for the treatment of renal diseases. It focuses on the formulation of programs directed toward treating gastrointestinal and irritable bowel syndrome with constipations. Its product portfolio includes tenapanor, which is an experimental medication that works exclusively in the gut and is in late-stage clinical development. The company was founded by Dominique Charmot, Peter G. Schultz, and Jean M. Frechet on October 17, 2007 and is headquartered in Fremont, CA.