ADARx Pharmaceuticals (NASDAQ:ADRX) Stock Bumped Up to “Hold” by Zacks Research

Zacks Research upgraded shares of ADARx Pharmaceuticals (NASDAQ:ADRX) to a hold rating in a report issued on Wednesday,Zacks reports.

Other equities analysts have also issued reports about the company. TD Cowen started coverage on ADARx Pharmaceuticals in a report on Tuesday. They set a “buy” rating on the stock. Morgan Stanley assumed coverage on ADARx Pharmaceuticals in a research report on Tuesday. They issued an “overweight” rating and a $32.00 price target for the company. Wall Street Zen upgraded ADARx Pharmaceuticals to a “hold” rating in a research note on Saturday, October 3rd. UBS Group assumed coverage on ADARx Pharmaceuticals in a report on Tuesday. They set a “buy” rating and a $35.00 price objective on the stock. Finally, JPMorgan Chase & Co. started coverage on ADARx Pharmaceuticals in a research note on Tuesday. They issued an “overweight” rating and a $38.00 price objective on the stock. Four equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $35.00.

ADARx Pharmaceuticals Price Performance

ADARx Pharmaceuticals stock opened at $17.68 on Wednesday. ADARx Pharmaceuticals has a 1-year low of $16.61 and a 1-year high of $23.21.

Insider Activity

In related news, Director Erez Chimovits bought 61,516 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The stock was purchased at an average cost of $17.00 per share, for a total transaction of $1,045,772.00. Following the purchase, the director directly owned 9,292,025 shares in the company, valued at $157,964,425. This trade represents a 0.67% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Simeon George bought 1,600,000 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The shares were bought at an average price of $17.00 per share, with a total value of $27,200,000.00. Following the completion of the purchase, the director owned 5,554,094 shares in the company, valued at approximately $94,419,598. The trade was a 40.46% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders acquired 3,261,516 shares of company stock valued at $55,445,772.

About ADARx Pharmaceuticals

ADARx Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company focused on developing medicines that target disease-driving proteins through RNA-based technologies. The company’s platform is designed to support potent and durable control of protein production, with the goal of creating therapies that may be administered less frequently than conventional treatments.

ADARx is advancing a pipeline of investigational therapeutics for conditions involving the kallikrein-kinin and complement pathways, which are implicated in hereditary angioedema and other immune-mediated or inflammatory diseases.