Elizabeth Grammer Sells 5,995 Shares of Ardelyx (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider Elizabeth Grammer sold 5,995 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $5.54, for a total transaction of $33,212.30. Following the sale, the insider owned 299,895 shares in the company, valued at $1,661,418.30. This represents a 1.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ardelyx Trading Up 4.0%

Shares of NASDAQ:ARDX traded up $0.22 during mid-day trading on Tuesday, hitting $5.72. The stock had a trading volume of 2,836,088 shares, compared to its average volume of 4,398,747. The company has a market cap of $1.39 billion, a PE ratio of -24.87 and a beta of 0.66. The company’s 50 day moving average is $5.54 and its 200-day moving average is $4.98. The company has a debt-to-equity ratio of 1.44, a quick ratio of 4.03 and a current ratio of 4.30. Ardelyx, Inc. has a 12-month low of $3.21 and a 12-month high of $6.78.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $0.00 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.06. The firm had revenue of $110.33 million during the quarter, compared to the consensus estimate of $100.44 million. Ardelyx had a negative return on equity of 36.57% and a negative net margin of 14.60%.The firm’s quarterly revenue was up 14.6% on a year-over-year basis. On average, sell-side analysts predict that Ardelyx, Inc. will post -0.18 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ARDX. UBS Group set a $12.00 price target on shares of Ardelyx in a report on Tuesday, August 5th. TD Cowen boosted their target price on Ardelyx from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Cowen reaffirmed a “buy” rating on shares of Ardelyx in a research note on Friday, October 31st. Wedbush lowered Ardelyx from an “outperform” rating to a “neutral” rating in a report on Tuesday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ardelyx in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Ardelyx presently has a consensus rating of “Moderate Buy” and an average price target of $11.73.

Institutional Investors Weigh In On Ardelyx

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. DCF Advisers LLC acquired a new stake in shares of Ardelyx in the second quarter worth $39,000. Brighton Jones LLC acquired a new position in Ardelyx during the 2nd quarter worth $40,000. Focus Partners Advisor Solutions LLC bought a new stake in Ardelyx during the first quarter valued at about $56,000. SBI Securities Co. Ltd. grew its position in shares of Ardelyx by 147.0% in the third quarter. SBI Securities Co. Ltd. now owns 10,253 shares of the biopharmaceutical company’s stock valued at $56,000 after purchasing an additional 6,102 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of Ardelyx in the second quarter worth about $61,000. 58.92% of the stock is currently owned by institutional investors and hedge funds.

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.