Ardelyx, Inc. (NASDAQ:ARDX) Insider Sells $333,574.15 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider Laura A. Williams sold 39,949 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $8.35, for a total value of $333,574.15. Following the completion of the sale, the insider now directly owns 370,189 shares of the company’s stock, valued at approximately $3,091,078.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Ardelyx Trading Down 8.9 %

Shares of ARDX stock opened at $8.48 on Thursday. Ardelyx, Inc. has a twelve month low of $3.16 and a twelve month high of $10.13. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of -30.29 and a beta of 0.87. The firm has a 50-day moving average price of $7.64 and a 200 day moving average price of $6.92. The company has a current ratio of 4.53, a quick ratio of 4.36 and a debt-to-equity ratio of 0.66.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.02. The business 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 41.65%. The company’s quarterly revenue was up 303.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.13) earnings per share. Research analysts forecast that Ardelyx, Inc. will post -0.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wedbush increased their target price on shares of Ardelyx from $14.00 to $15.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. StockNews.com downgraded Ardelyx from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Piper Sandler raised their price target on Ardelyx from $12.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Citigroup boosted their price objective on shares of Ardelyx from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Ardelyx in a report on Friday, January 12th. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Ardelyx currently has an average rating of “Moderate Buy” and a consensus target price of $12.81.

Institutional Investors Weigh In On Ardelyx

Hedge funds and other institutional investors have recently made changes to their positions in the business. HighMark Wealth Management LLC acquired a new stake in Ardelyx in the 1st quarter worth about $36,000. SJS Investment Consulting Inc. purchased a new position in shares of Ardelyx during the 4th quarter worth about $62,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of Ardelyx in the third quarter worth approximately $63,000. Jump Financial LLC purchased a new stake in Ardelyx in the fourth quarter valued at approximately $63,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Ardelyx during the first quarter worth approximately $64,000. Hedge funds and other institutional investors own 58.92% of the company’s stock.

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.