Barclays PLC Decreases Stock Position in Ardelyx, Inc. (NASDAQ:ARDX)

Barclays PLC cut its stake in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 2.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 532,654 shares of the biopharmaceutical company’s stock after selling 14,671 shares during the quarter. Barclays PLC owned 0.22% of Ardelyx worth $2,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of ARDX. Newbridge Financial Services Group Inc. bought a new position in shares of Ardelyx in the fourth quarter worth approximately $35,000. SBI Securities Co. Ltd. purchased a new position in shares of Ardelyx during the fourth quarter valued at approximately $41,000. Covestor Ltd increased its stake in shares of Ardelyx by 287.0% during the fourth quarter. Covestor Ltd now owns 11,315 shares of the biopharmaceutical company’s stock valued at $57,000 after buying an additional 8,391 shares during the period. Sheets Smith Investment Management bought a new position in shares of Ardelyx during the fourth quarter valued at approximately $58,000. Finally, KBC Group NV lifted its stake in Ardelyx by 101.8% in the fourth quarter. KBC Group NV now owns 13,706 shares of the biopharmaceutical company’s stock worth $69,000 after acquiring an additional 6,915 shares during the period. 58.92% of the stock is currently owned by institutional investors.

Ardelyx Trading Up 1.1 %

NASDAQ ARDX opened at $5.51 on Thursday. The stock’s fifty day moving average price is $5.02 and its 200-day moving average price is $5.27. The company has a current ratio of 4.58, a quick ratio of 4.31 and a debt-to-equity ratio of 0.87. The stock has a market cap of $1.31 billion, a P/E ratio of -34.44 and a beta of 0.81. Ardelyx, Inc. has a 12 month low of $4.02 and a 12 month high of $9.33.

Ardelyx (NASDAQ:ARDX) last issued its earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. Ardelyx had a negative net margin of 11.73% and a negative return on equity of 24.87%. The business had revenue of $116.13 million during the quarter, compared to analysts’ expectations of $111.16 million. As a group, equities analysts forecast that Ardelyx, Inc. will post -0.18 EPS for the current fiscal year.

Insider Activity at Ardelyx

In other Ardelyx news, CEO Michael Raab sold 41,666 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $5.36, for a total transaction of $223,329.76. Following the transaction, the chief executive officer now owns 1,108,719 shares in the company, valued at approximately $5,942,733.84. This represents a 3.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Laura A. Williams sold 4,941 shares of Ardelyx stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $5.62, for a total transaction of $27,768.42. Following the completion of the sale, the insider now owns 303,804 shares of the company’s stock, valued at $1,707,378.48. This represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 158,076 shares of company stock valued at $823,804. 5.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on ARDX. BTIG Research assumed coverage on shares of Ardelyx in a report on Tuesday, March 4th. They issued a “buy” rating and a $14.00 price objective for the company. Scotiabank initiated coverage on shares of Ardelyx in a report on Friday, March 7th. They issued a “sector outperform” rating and a $15.00 price objective for the company. HC Wainwright reiterated a “neutral” rating and set a $5.50 target price on shares of Ardelyx in a report on Friday, February 21st. Cantor Fitzgerald upgraded Ardelyx to a “strong-buy” rating in a research note on Tuesday, March 4th. Finally, Raymond James reaffirmed a “strong-buy” rating and issued a $13.00 price target (down from $15.00) on shares of Ardelyx in a research note on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $10.61.

Ardelyx 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.