ADARx Pharmaceuticals (NASDAQ:ADRX) Upgraded to Hold at Zacks Research

Key Points

• Zacks Research upgraded ADARx Pharmaceuticals to a “Hold” rating, while the broader analyst consensus remains “Moderate Buy,” with four Buy ratings and one Hold rating and an average price target of $35.
• ADRX shares rose 3.2% to open at $17.68, compared with a 12-month trading range of $16.61 to $23.21.
• Company insiders purchased 3.26 million shares worth approximately $55.4 million over the past 90 days, including significant purchases by directors Erez Chimovits and Simeon George.

ADARx Pharmaceuticals (NASDAQ:ADRX - Get Free Report) was upgraded by research analysts at Zacks Research to a "hold" rating in a research note issued on Wednesday, Zacks reports.

A number of other research firms have also commented on ADRX. Morgan Stanley initiated coverage on ADARx Pharmaceuticals in a research note on Tuesday. They set an "overweight" rating and a $32.00 price objective on the stock. UBS Group initiated coverage on ADARx Pharmaceuticals in a research note on Tuesday. They issued a "buy" rating and a $35.00 price target for the company. Wall Street Zen raised shares of ADARx Pharmaceuticals to a "hold" rating in a research report on Saturday, October 3rd. TD Cowen assumed coverage on shares of ADARx Pharmaceuticals in a research report on Tuesday. They set a "buy" rating for the company. Finally, JPMorgan Chase & Co. started coverage on shares of ADARx Pharmaceuticals in a research report on Tuesday. They issued an "overweight" rating and a $38.00 target price for the company. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $35.00.

ADARx Pharmaceuticals Stock Up 3.2%

Shares of NASDAQ:ADRX opened at $17.68 on Wednesday. ADARx Pharmaceuticals has a 12-month low of $16.61 and a 12-month high of $23.21.

Insider Buying and Selling

In other news, Director Erez Chimovits bought 61,516 shares of the company's 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 completion of the transaction, the director owned 9,292,025 shares of the company's stock, valued at $157,964,425. This trade represents a 0.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Simeon George bought 1,600,000 shares of the company's stock in a transaction on Monday, September 28th. The stock was purchased at an average price of $17.00 per share, with a total value of $27,200,000.00. Following the completion of the transaction, the director directly owned 5,554,094 shares of the company's stock, valued at approximately $94,419,598. The trade was a 40.46% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have bought 3,261,516 shares of company stock worth $55,445,772 in the last 90 days.

ADARx Pharmaceuticals Company Profile

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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