ADARx Pharmaceuticals (NASDAQ:ADRX) Upgraded to Strong-Buy at UBS Group

Key Points

• UBS Group upgraded ADARx Pharmaceuticals to “strong buy,” while other analysts issued bullish ratings, giving the stock a consensus “buy” rating and an average price target of $35.
• ADRX shares opened at $17.68, near the lower end of their 12-month range of $16.61 to $23.21.
• Company insiders bought 3.26 million shares worth approximately $55.4 million during the last quarter, including substantial purchases by directors Erez Chimovits and Simeon George.

ADARx Pharmaceuticals (NASDAQ:ADRX - Get Free Report) was upgraded by UBS Group to a "strong-buy" rating in a report released on Tuesday, Zacks reports.

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. initiated coverage on ADARx Pharmaceuticals in a research report on Tuesday. They issued an "overweight" rating and a $38.00 price objective on the stock. Wall Street Zen raised shares of ADARx Pharmaceuticals to a "hold" rating in a report on Saturday, October 3rd. Morgan Stanley initiated coverage on shares of ADARx Pharmaceuticals in a report on Tuesday. They set an "overweight" rating and a $32.00 target price for the company. Finally, TD Cowen assumed coverage on shares of ADARx Pharmaceuticals in a research note on Tuesday. They issued a "buy" rating for the company. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat.com, ADARx Pharmaceuticals currently has a consensus rating of "Buy" and an average price target of $35.00.

ADARx Pharmaceuticals Stock Performance

Shares of ADRX stock opened at $17.68 on Tuesday. ADARx Pharmaceuticals has a twelve month low of $16.61 and a twelve month high of $23.21.

Insider Buying and Selling at ADARx Pharmaceuticals

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

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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