Brokerages Set Ardelyx, Inc. (NASDAQ:ARDX) PT at $12.69

Ardelyx, Inc. (NASDAQ:ARDX) has been assigned an average rating of “Buy” from the nine analysts that are covering the stock, Marketbeat.com reports. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $12.81.

ARDX has been the subject of several research reports. StockNews.com downgraded shares of Ardelyx from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Citigroup lifted their price target on Ardelyx from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Friday. Raymond James upped their price objective on Ardelyx from $12.00 to $15.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 9th. SVB Leerink began coverage on Ardelyx in a report on Friday, April 5th. They set an “outperform” rating and a $14.00 target price for the company. Finally, Piper Sandler boosted their target price on shares of Ardelyx from $12.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd.

Insider Buying and Selling

In other news, CEO Michael Raab sold 30,000 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $6.40, for a total value of $192,000.00. Following the completion of the sale, the chief executive officer now owns 1,310,933 shares of the company’s stock, valued at $8,389,971.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Michael Raab sold 30,000 shares of the company’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $6.40, for a total value of $192,000.00. Following the sale, the chief executive officer now directly owns 1,310,933 shares of the company’s stock, valued at approximately $8,389,971.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider David P. Rosenbaum sold 15,344 shares of Ardelyx stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $9.18, for a total transaction of $140,857.92. Following the transaction, the insider now directly owns 384,002 shares of the company’s stock, valued at approximately $3,525,138.36. The disclosure for this sale can be found here. Insiders sold a total of 178,820 shares of company stock valued at $1,400,524 in the last three months. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in Ardelyx in the third quarter worth approximately $848,000. Raymond James Financial Services Advisors Inc. increased its stake in shares of Ardelyx by 37.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 57,425 shares of the biopharmaceutical company’s stock valued at $234,000 after acquiring an additional 15,554 shares in the last quarter. Willis Johnson & Associates Inc. acquired a new position in shares of Ardelyx during the 3rd quarter valued at $41,000. Inspire Investing LLC bought a new position in Ardelyx during the third quarter worth $307,000. Finally, TD Asset Management Inc grew its holdings in Ardelyx by 100.0% in the third quarter. TD Asset Management Inc now owns 273,600 shares of the biopharmaceutical company’s stock worth $1,116,000 after purchasing an additional 136,800 shares during the period. 58.92% of the stock is owned by institutional investors and hedge funds.

Ardelyx Stock Performance

Shares of ARDX stock opened at $8.72 on Wednesday. The stock has a market cap of $2.04 billion, a P/E ratio of -31.14 and a beta of 0.87. The company has a fifty day moving average price of $7.67 and a two-hundred day moving average price of $6.83. Ardelyx has a one year low of $3.16 and a one year high of $10.13. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.88 and a quick ratio of 4.64.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02. The firm had revenue of $46.00 million for the quarter, compared to the consensus estimate of $36.40 million. Ardelyx had a negative net margin of 41.36% and a negative return on equity of 41.03%. The company’s quarterly revenue was up 303.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.13) earnings per share. As a group, equities analysts predict that Ardelyx will post -0.44 EPS for the current year.

Ardelyx Company Profile

Ardelyx, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines to treat gastrointestinal and cardiorenal therapeutic areas in the United States and internationally. The company's lead product candidate is tenapanor for the treatment of patients with irritable bowel syndrome with constipation.