Wedbush Sticks to Their Buy Rating for Ardelyx (ARDX)

Wedbush analyst maintained a Buy rating on Ardelyx today and set a price target of $19.00.

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In addition to Wedbush, Ardelyx also received a Buy from BTIG’s Julian Harrison in a report issued today. However, on the same day, TipRanks – PerPlexity reiterated a Hold rating on Ardelyx (NASDAQ: ARDX).

Based on Ardelyx’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $110.33 million and a GAAP net loss of $969 thousand. In comparison, last year the company earned a revenue of $98.24 million and had a GAAP net loss of $809 thousand

Based on the recent corporate insider activity of 55 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. Last month, Laura A Williams, the Chief Patient Officer of ARDX sold 50,000.00 shares for a total of $348,500.00.