David M. Mott Purchases 100,000 Shares of Ardelyx, Inc. (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX) Director David M. Mott bought 100,000 shares of Ardelyx stock in a transaction that occurred on Thursday, May 15th. The stock was bought at an average price of $3.29 per share, with a total value of $329,000.00. Following the purchase, the director now owns 2,496,871 shares of the company’s stock, valued at $8,214,705.59. This trade represents a 4.17% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Ardelyx Trading Up 3.0%

ARDX stock opened at $4.18 on Wednesday. Ardelyx, Inc. has a 1-year low of $3.21 and a 1-year high of $8.06. 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 business’s 50 day moving average is $4.61 and its 200-day moving average is $5.07. The firm has a market cap of $1.00 billion, a P/E ratio of -26.13 and a beta of 0.76.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.07). Ardelyx had a negative net margin of 11.73% and a negative return on equity of 24.87%. The company had revenue of $74.11 million during the quarter, compared to the consensus estimate of $79.40 million. During the same quarter last year, the company earned ($0.11) earnings per share. The business’s revenue was up 61.1% on a year-over-year basis. Equities analysts anticipate that Ardelyx, Inc. will post -0.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Citigroup cut their price target on Ardelyx from $11.00 to $10.00 and set a “buy” rating for the company in a report on Friday, May 2nd. StockNews.com lowered Ardelyx from a “hold” rating to a “sell” rating in a report on Monday, May 5th. HC Wainwright restated a “neutral” rating and issued a $5.50 target price on shares of Ardelyx in a research note on Friday, February 21st. LADENBURG THALM/SH SH reaffirmed a “buy” rating and issued a $11.00 target price on shares of Ardelyx in a research report on Friday, March 7th. Finally, BTIG Research started coverage on shares of Ardelyx in a research note on Tuesday, March 4th. They set a “buy” rating and a $14.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.39.

Institutional Investors Weigh In On Ardelyx

Several institutional investors and hedge funds have recently made changes to their positions in ARDX. GF Fund Management CO. LTD. bought a new stake in Ardelyx during the 4th quarter worth approximately $25,000. GAMMA Investing LLC boosted its stake in Ardelyx by 1,342.0% in the first quarter. GAMMA Investing LLC now owns 5,912 shares of the biopharmaceutical company’s stock worth $290,000 after purchasing an additional 5,502 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Ardelyx during the fourth quarter worth $35,000. SBI Securities Co. Ltd. acquired a new stake in shares of Ardelyx in the fourth quarter valued at $41,000. Finally, Quarry LP bought a new position in shares of Ardelyx in the fourth quarter valued at about $51,000. 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.