Insider Selling: Ardelyx (NASDAQ:ARDX) Insider Sells 50,000 Shares of Stock

Ardelyx, Inc. (NASDAQ:ARDXGet Free Report) insider Laura Williams sold 50,000 shares of the business’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $6.98, for a total transaction of $349,000.00. Following the completion of the sale, the insider directly owned 361,563 shares of the company’s stock, valued at $2,523,709.74. The trade was a 12.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Ardelyx Stock Up 10.6%

Shares of ARDX stock traded up $0.74 during trading hours on Friday, hitting $7.74. 17,894,868 shares of the company were exchanged, compared to its average volume of 10,342,220. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of -33.65 and a beta of 0.56. Ardelyx, Inc. has a one year low of $3.21 and a one year high of $8.05. The business’s 50-day simple moving average is $5.89 and its two-hundred day simple moving average is $5.48. The company has a debt-to-equity ratio of 1.31, a quick ratio of 4.11 and a current ratio of 4.41.

Ardelyx (NASDAQ:ARDXGet Free Report) last announced its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $0.00 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.06. The firm had revenue of $110.33 million for the quarter, compared to analysts’ expectations of $100.44 million. Ardelyx had a negative return on equity of 36.91% and a negative net margin of 14.20%.The company’s revenue was up 14.6% compared to the same quarter last year. Sell-side analysts predict that Ardelyx, Inc. will post -0.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ARDX. Cowen reissued a “buy” rating on shares of Ardelyx in a report on Friday, October 31st. Piper Sandler raised shares of Ardelyx from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $10.00 to $16.00 in a research report on Thursday. Wedbush cut shares of Ardelyx from an “outperform” rating to a “hold” rating in a report on Tuesday, November 25th. TD Cowen boosted their target price on shares of Ardelyx from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Ardelyx in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.80.

View Our Latest Research Report on Ardelyx

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Institutional Investors Weigh In On Ardelyx

A number of institutional investors and hedge funds have recently bought and sold shares of ARDX. SG Americas Securities LLC grew its stake in shares of Ardelyx by 30.1% in the 4th quarter. SG Americas Securities LLC now owns 171,580 shares of the biopharmaceutical company’s stock worth $1,000,000 after purchasing an additional 39,655 shares during the last quarter. GK Wealth Management LLC acquired a new position in Ardelyx in the fourth quarter worth approximately $435,000. Tudor Investment Corp ET AL bought a new position in shares of Ardelyx in the third quarter valued at $688,000. Swiss Life Asset Management Ltd bought a new position in shares of Ardelyx in the third quarter valued at $57,000. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Ardelyx during the 3rd quarter valued at $139,000. 58.92% of the stock is owned by institutional investors and hedge funds.

Ardelyx Company Profile

(Get Free Report)

Ardelyx, Inc (NASDAQ: ARDX) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing targeted small molecule drugs for cardio‐renal and gastrointestinal diseases. The company’s lead marketed product, tenapanor (sold under the brand name XPHOZAH in the United States), is approved for the treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis. Ardelyx’s proprietary approach targets epithelial transporters in the gastrointestinal tract, offering localized activity with limited systemic exposure.

Beyond tenapanor, Ardelyx’s development pipeline includes treatments designed to address other complications in kidney disease and related metabolic disorders.

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