Insider Selling: Ardelyx, Inc. (NASDAQ:ARDX) CEO Sells 25,000 Shares of Stock

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 25,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $5.91, for a total value of $147,750.00. Following the sale, the chief executive officer now owns 1,210,108 shares of the company’s stock, valued at approximately $7,151,738.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Michael Raab also recently made the following trade(s):

• On Friday, October 11th, Michael Raab sold 7,500 shares of Ardelyx stock. The stock was sold at an average price of $6.01, for a total transaction of $45,075.00.
• On Thursday, September 26th, Michael Raab sold 3,000 shares of Ardelyx stock. The stock was sold at an average price of $6.07, for a total transaction of $18,210.00.
• On Wednesday, September 11th, Michael Raab sold 35,000 shares of Ardelyx stock. The shares were sold at an average price of $5.61, for a total transaction of $196,350.00.
• On Tuesday, August 27th, Michael Raab sold 7,500 shares of Ardelyx stock. The shares were sold at an average price of $6.22, for a total transaction of $46,650.00.
• On Tuesday, August 20th, Michael Raab sold 32,225 shares of Ardelyx stock. The shares were sold at an average price of $5.86, for a total transaction of $188,838.50.
• On Monday, August 12th, Michael Raab sold 1,229 shares of Ardelyx stock. The shares were sold at an average price of $5.71, for a total transaction of $7,017.59.

Ardelyx Price Performance

ARDX opened at $6.09 on Friday. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of -22.55 and a beta of 0.90. Ardelyx, Inc. has a fifty-two week low of $3.43 and a fifty-two week high of $10.13. The company’s 50-day moving average price is $6.07 and its 200 day moving average price is $6.32. The company has a quick ratio of 3.99, a current ratio of 4.21 and a debt-to-equity ratio of 0.68.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.04. The firm had revenue of $73.20 million for the quarter, compared to analyst estimates of $55.03 million. Ardelyx had a negative net margin of 31.02% and a negative return on equity of 39.73%. Ardelyx’s quarterly revenue was up 228.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.08) earnings per share. As a group, sell-side analysts expect that Ardelyx, Inc. will post -0.25 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ARDX has been the topic of a number of recent analyst reports. Citigroup upped their target price on shares of Ardelyx from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. HC Wainwright restated a “buy” rating and issued a $11.00 target price on shares of Ardelyx in a research note on Friday. StockNews.com upgraded shares of Ardelyx from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. Finally, Wedbush restated an “outperform” rating and issued a $11.00 target price on shares of Ardelyx in a research note on Friday, August 2nd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $11.67.

Institutional Investors Weigh In On Ardelyx

Several institutional investors and hedge funds have recently bought and sold shares of ARDX. Redmile Group LLC acquired a new stake in shares of Ardelyx in the first quarter valued at approximately $16,020,000. Millennium Management LLC increased its stake in shares of Ardelyx by 142.8% in the second quarter. Millennium Management LLC now owns 3,203,090 shares of the biopharmaceutical company’s stock valued at $23,735,000 after purchasing an additional 1,883,995 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of Ardelyx by 68.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,913,863 shares of the biopharmaceutical company’s stock valued at $28,572,000 after acquiring an additional 1,584,597 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Ardelyx by 2.8% in the first quarter. Vanguard Group Inc. now owns 13,391,855 shares of the biopharmaceutical company’s stock valued at $97,761,000 after acquiring an additional 365,809 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its holdings in shares of Ardelyx by 375.9% in the second quarter. Squarepoint Ops LLC now owns 460,689 shares of the biopharmaceutical company’s stock valued at $3,414,000 after acquiring an additional 363,894 shares in the last quarter. Institutional investors and hedge funds 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.