5 Best High Volume Penny Stocks to Buy Now

2. Ardelyx, Inc. (NASDAQ:ARDX)

Number of Hedge Fund Holders: 16    

Share Price as of November 3: $1.47

Volume as of November 3: 2,958,219

Ardelyx, Inc. (NASDAQ:ARDX) is a biopharmaceutical company that discovers, develops, and commercializes medicines to treat gastrointestinal and cardiorenal therapeutic areas in the United States and internationally. It is one of the elite penny stocks to invest in. On August 18, Citi analyst Yigal Nochomovitz maintained a Buy rating on Ardelyx, Inc. (NASDAQ:ARDX) stock and lowered the price target to $10 from $12. 

Among the hedge funds being tracked by Insider Monkey, Stamford-based investment firm Point72 Asset Management is a leading shareholder in Ardelyx, Inc. (NASDAQ:ARDX) with 5 million shares worth more than $2.95 million. 

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