ADARx Pharmaceuticals (NASDAQ:ADRX) Stock Rated Overweight in New Coverage at JPMorgan Chase & Co.

by · The Cerbat Gem

JPMorgan Chase & Co. initiated coverage on shares of ADARx Pharmaceuticals (NASDAQ:ADRX – Free Report) in a report published on Tuesday morning, Marketbeat reports. The firm issued an overweight rating and a $38.00 price objective on the stock.

Several other analysts also recently weighed in on ADRX. Morgan Stanley started coverage on shares of ADARx Pharmaceuticals in a research note on Tuesday. They issued an “overweight” rating and a $32.00 price target for the company. UBS Group assumed coverage on ADARx Pharmaceuticals in a research note on Tuesday. They set a “buy” rating and a $35.00 price objective on the stock. Wall Street Zen upgraded ADARx Pharmaceuticals to a “hold” rating in a report on Saturday, October 3rd. Finally, TD Cowen began coverage on ADARx Pharmaceuticals in a research note on Tuesday. They issued a “buy” rating for the company. Four equities research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $35.00.

Check Out Our Latest Stock Analysis on ADRX

ADARx Pharmaceuticals Stock Performance

ADRX stock opened at $17.68 on Tuesday. ADARx Pharmaceuticals has a one year low of $16.61 and a one year high of $23.21.

Insider Buying and Selling at ADARx Pharmaceuticals

In other ADARx Pharmaceuticals news, major shareholder Sr One Capital Management, Llc bought 1,600,000 shares of ADARx Pharmaceuticals stock in a transaction dated Monday, September 28th. The shares were purchased at an average cost of $17.00 per share, with a total value of $27,200,000.00. Following the completion of the purchase, the insider 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Erez Chimovits bought 61,516 shares of the firm’s stock in a transaction that occurred on Monday, September 28th. The shares were acquired at an average price of $17.00 per share, with a total value of $1,045,772.00. Following the acquisition, the director owned 9,292,025 shares of the company’s stock, valued at $157,964,425. This represents a 0.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders acquired 3,261,516 shares of company stock valued at $55,445,772 in the last 90 days.

About ADARx Pharmaceuticals

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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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