JPMorgan Chase & Co. started coverage on shares of ADARx Pharmaceuticals (NASDAQ:ADRX – Get Free Report) in a report released on Tuesday, Briefing.com reports. The firm set an “overweight” rating and a $38.00 price target on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 115.54% from the company’s current price.
A number of other equities research analysts also recently commented on the company. Morgan Stanley assumed coverage on ADARx Pharmaceuticals in a report on Tuesday. They issued an “overweight” rating and a $32.00 target price for the company. UBS Group initiated coverage on shares of ADARx Pharmaceuticals in a research note on Tuesday. They set a “buy” rating and a $35.00 price target on the stock. Wall Street Zen upgraded shares of ADARx Pharmaceuticals to a “hold” rating in a report on Saturday, October 3rd. Finally, TD Cowen began coverage on shares of ADARx Pharmaceuticals in a research note on Tuesday. They issued a “buy” rating for the company. Four investment analysts have rated the stock with a Buy rating. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $35.00.
Check Out Our Latest Stock Analysis on ADARx Pharmaceuticals
ADARx Pharmaceuticals Stock Down 0.1%
Shares of ADRX stock opened at $17.63 on Tuesday. ADARx Pharmaceuticals has a 1-year low of $16.64 and a 1-year high of $23.21.
Insider Buying and Selling
In other news, Director Simeon George bought 1,600,000 shares of the stock in a transaction 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 acquisition, the director owned 5,554,094 shares of the company’s stock, valued at approximately $94,419,598. This trade represents a 40.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Erez Chimovits bought 61,516 shares of the stock in a transaction 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 acquisition, the director directly owned 9,292,025 shares of the company’s stock, valued at $157,964,425. The trade was a 0.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 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.
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