Ardelyx, Inc. (NASDAQ:ARDX) Insider Sells $27,768.42 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider Laura A. Williams sold 4,941 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $5.62, for a total value 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 position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Ardelyx Price Performance

NASDAQ:ARDX opened at $5.06 on Monday. The company has a quick ratio of 3.87, a current ratio of 4.03 and a debt-to-equity ratio of 0.64. The firm has a market cap of $1.20 billion, a PE ratio of -31.59 and a beta of 0.85. Ardelyx, Inc. has a 12 month low of $4.32 and a 12 month high of $9.83. The company’s 50-day moving average price is $5.30 and its two-hundred day moving average price is $5.63.

Ardelyx (NASDAQ:ARDX) last announced its earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. Ardelyx had a negative return on equity of 25.74% and a negative net margin of 11.73%. The business had revenue of $116.13 million for the quarter, compared to the consensus estimate of $111.16 million. On average, equities analysts anticipate that Ardelyx, Inc. will post -0.18 EPS for the current fiscal year.

Institutional Trading of Ardelyx

Large investors have recently made changes to their positions in the business. State Street Corp lifted its position in Ardelyx by 1.5% during the 3rd quarter. State Street Corp now owns 12,141,850 shares of the biopharmaceutical company’s stock worth $83,657,000 after buying an additional 176,789 shares in the last quarter. Rubric Capital Management LP raised its stake in shares of Ardelyx by 68.5% in the third quarter. Rubric Capital Management LP now owns 3,060,191 shares of the biopharmaceutical company’s stock worth $21,085,000 after acquiring an additional 1,243,606 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Ardelyx by 274.3% during the third quarter. BNP Paribas Financial Markets now owns 181,387 shares of the biopharmaceutical company’s stock worth $1,250,000 after purchasing an additional 132,928 shares in the last quarter. Vestal Point Capital LP bought a new stake in shares of Ardelyx during the third quarter valued at approximately $3,445,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Ardelyx by 1.6% in the third quarter. JPMorgan Chase & Co. now owns 387,144 shares of the biopharmaceutical company’s stock valued at $2,667,000 after purchasing an additional 6,093 shares in the last quarter. Institutional investors own 58.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Raymond James restated a “strong-buy” rating and issued a $13.00 target price (down from $15.00) on shares of Ardelyx in a research note on Friday. Citigroup dropped their price objective on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, November 4th. HC Wainwright reiterated a “neutral” rating and set a $5.50 target price on shares of Ardelyx in a research report on Friday. Piper Sandler increased their price target on shares of Ardelyx from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Finally, Cantor Fitzgerald upgraded shares of Ardelyx to a “strong-buy” rating in a research note on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.93.

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.