ADARx Pharmaceuticals (NASDAQ:ADRX) Posts Quarterly Earnings Results, Misses Expectations By $1.34 EPS

Key Points

• ADARx Pharmaceuticals reported a quarterly loss of $1.74 per share, missing analyst expectations of a $0.40 loss by $1.34.
• Shares rose 12.1% to $14.91 in Thursday’s trading, despite the earnings miss.
• Company insiders bought 3.26 million shares worth about $55.4 million over the past three months. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $35.

ADARx Pharmaceuticals (NASDAQ:ADRX - Get Free Report) released its quarterly earnings results on Thursday. The company reported ($1.74) earnings per share for the quarter, missing analysts' consensus estimates of ($0.40) by ($1.34), Zacks reports.

ADARx Pharmaceuticals Trading Up 12.1%

ADARx Pharmaceuticals stock traded up $1.61 during mid-day trading on Thursday, reaching $14.91. The company's stock had a trading volume of 994,875 shares, compared to its average volume of 546,752. ADARx Pharmaceuticals has a 12-month low of $12.50 and a 12-month high of $23.21.

Insider Transactions at ADARx Pharmaceuticals

In other news, Director Erez Chimovits acquired 61,516 shares of the business's stock in a transaction dated Monday, September 28th. The stock was bought 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. The trade was a 0.67% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Simeon George bought 1,600,000 shares of the stock in a transaction on 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 completion of the purchase, the director directly owned 5,554,094 shares in the company, valued at approximately $94,419,598. This represents a 40.46% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased 3,261,516 shares of company stock valued at $55,445,772 over the last three months.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Morgan Stanley began coverage on ADARx Pharmaceuticals in a report on Tuesday, October 20th. They issued an "overweight" rating and a $32.00 target price for the company. UBS Group started coverage on shares of ADARx Pharmaceuticals in a research note on Tuesday, October 20th. They issued a "buy" rating and a $35.00 target price on the stock. Zacks Research raised shares of ADARx Pharmaceuticals to a "hold" rating in a research report on Wednesday, October 21st. JPMorgan Chase & Co. began coverage on shares of ADARx Pharmaceuticals in a research note on Tuesday, October 20th. They set an "overweight" rating and a $38.00 price target for the company. Finally, TD Cowen initiated coverage on shares of ADARx Pharmaceuticals in a report on Tuesday, October 20th. They issued a "buy" rating on the stock. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, ADARx Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $35.00.

About ADARx Pharmaceuticals

ADARx Pharmaceuticals is a clinical-stage biopharmaceutical company developing RNA-targeted medicines for serious diseases. Its research focuses on oligonucleotide therapeutics designed to alter the activity of specific RNA molecules and, in turn, address disease-related gene expression. The company's pipeline includes investigational candidates for conditions such as hereditary angioedema and complement-mediated diseases. These therapies remain in development and have not been established as approved treatments.

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