Ardelyx, Inc. (NASDAQ:ARDX) Given Consensus Recommendation of “Moderate Buy” by Analysts

Ardelyx, Inc. (NASDAQ:ARDX) has received a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $9.42.

ARDX has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “neutral” rating and issued a $5.50 price target on shares of Ardelyx in a report on Thursday, January 16th. Jefferies Financial Group decreased their price target on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Citigroup cut their price objective on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Piper Sandler increased their price objective on shares of Ardelyx from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Finally, Cantor Fitzgerald upgraded shares of Ardelyx to a “strong-buy” rating in a research note on Thursday, January 30th.

Ardelyx Trading Up 4.3 %

NASDAQ ARDX opened at $5.52 on Friday. The company has a fifty day simple moving average of $5.23 and a two-hundred day simple moving average of $5.63. The stock has a market cap of $1.31 billion, a P/E ratio of -18.40 and a beta of 0.85. Ardelyx has a 12-month low of $4.32 and a 12-month high of $10.13. The company has a current ratio of 4.03, a quick ratio of 3.87 and a debt-to-equity ratio of 0.64.

Insider Activity at Ardelyx

In related news, CEO Michael Raab sold 31,980 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $4.79, for a total transaction of $153,184.20. Following the sale, the chief executive officer now owns 1,175,385 shares in the company, valued at approximately $5,630,094.15. This trade represents a 2.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David M. Mott purchased 213,300 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average price of $4.67 per share, for a total transaction of $996,111.00. Following the transaction, the director now owns 1,638,765 shares of the company’s stock, valued at $7,653,032.55. This trade represents a 14.96 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 180,681 shares of company stock worth $937,680. 5.90% of the stock is owned by company insiders.

Institutional Trading of Ardelyx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. purchased a new position in Ardelyx during the fourth quarter valued at $35,000. KBC Group NV lifted its holdings in Ardelyx by 101.8% during the fourth quarter. KBC Group NV now owns 13,706 shares of the biopharmaceutical company’s stock valued at $69,000 after purchasing an additional 6,915 shares in the last quarter. Helen Stephens Group LLC purchased a new position in Ardelyx during the third quarter valued at $76,000. CWM LLC lifted its holdings in Ardelyx by 328.1% during the third quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 9,821 shares in the last quarter. Finally, Bleakley Financial Group LLC purchased a new position in Ardelyx during the fourth quarter valued at $98,000. Institutional investors and hedge funds own 58.92% of the company’s stock.

About Ardelyx

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.