Ardelyx, Inc. (ARDX)’s Stock Is Buy After Forming Bullish Double Top

March 19, 2018 - By Linda Rogers

The chart of Ardelyx, Inc. (ARDX) shows a double top with $5.83 target or 7.00 % above today’s $5.45 share price. The 6 months chart pattern indicates low risk for the $259.44M company. It was reported on Mar, 19 by If the $5.83 price target is reached, the company will be worth $18.16 million more. Double tops are rare but powerful chart patterns.

The stock increased 2.83% or $0.15 during the last trading session, reaching $5.45. About 562,836 shares traded or 90.61% up from the average. Ardelyx, Inc. (NASDAQ:ARDX) has declined 19.22% since March 19, 2017 and is downtrending. It has underperformed by 35.92% the S&P500.

Ardelyx, Inc. (NASDAQ:ARDX) Ratings Coverage

Among 7 analysts covering Ardelyx Inc (NASDAQ:ARDX), 7 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Ardelyx Inc had 15 analyst reports since August 18, 2015 according to SRatingsIntel. The rating was initiated by BTIG Research on Tuesday, September 22 with “Buy”. On Friday, October 13 the stock rating was maintained by Citigroup with “Buy”. The stock of Ardelyx, Inc. (NASDAQ:ARDX) earned “Buy” rating by Wedbush on Thursday, September 3. The rating was maintained by Citigroup with “Buy” on Wednesday, August 10. As per Thursday, October 12, the company rating was maintained by Cantor Fitzgerald. The firm earned “Buy” rating on Thursday, October 12 by Wedbush. The stock has “Buy” rating by Cantor Fitzgerald on Monday, August 28. Ladenburg Thalmann initiated the stock with “Buy” rating in Thursday, March 31 report. BTIG Research maintained Ardelyx, Inc. (NASDAQ:ARDX) rating on Friday, October 13. BTIG Research has “Buy” rating and $15.0 target. On Wednesday, March 9 the stock rating was maintained by JMP Securities with “Market Outperform”.

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