Ardelyx, Inc. (NASDAQ:ARDX) Receives $15.70 Consensus PT from Brokerages

Shares of Ardelyx, Inc. (NASDAQ:ARDX) have been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $15.70.

ARDX has been the topic of several analyst reports. Williams Trading set a $17.00 target price on shares of Ardelyx in a research note on Thursday, March 12th. Wedbush reissued an “outperform” rating and set a $19.00 price objective on shares of Ardelyx in a research report on Monday, February 23rd. TD Cowen reissued a “buy” rating on shares of Ardelyx in a research report on Thursday, January 29th. Jefferies Financial Group reissued a “buy” rating and set a $15.00 price objective on shares of Ardelyx in a research report on Tuesday, January 27th. Finally, BTIG Research reissued a “buy” rating and set a $17.00 price objective on shares of Ardelyx in a research report on Friday, February 20th.

Ardelyx Price Performance

Shares of NASDAQ ARDX opened at $6.11 on Thursday. The company has a quick ratio of 3.28, a current ratio of 3.49 and a debt-to-equity ratio of 1.37. Ardelyx has a 52 week low of $3.49 and a 52 week high of $8.40. The firm’s fifty day moving average is $6.09 and its 200 day moving average is $6.29. The company has a market cap of $1.51 billion, a price-to-earnings ratio of -26.56 and a beta of 0.62.

Ardelyx (NASDAQ:ARDX) last issued its earnings results on Thursday, April 30th. The biopharmaceutical company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). Ardelyx had a negative return on equity of 38.11% and a negative net margin of 13.58%.The firm had revenue of $94.47 million during the quarter, compared to analysts’ expectations of $92.78 million. During the same period in the previous year, the firm earned ($0.17) earnings per share. The firm’s quarterly revenue was up 27.5% compared to the same quarter last year. On average, equities research analysts expect that Ardelyx will post -0.05 earnings per share for the current year.

Insider Buying and Selling at Ardelyx

In other Ardelyx news, insider Eric Duane Foster sold 7,998 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $6.27, for a total transaction of $50,147.46. Following the transaction, the insider directly owned 417,972 shares of the company’s stock, valued at approximately $2,620,684.44. The trade was a 1.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mike Kelliher sold 7,248 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $6.27, for a total transaction of $45,444.96. Following the transaction, the insider directly owned 357,418 shares in the company, valued at approximately $2,241,010.86. The trade was a 1.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 66,238 shares of company stock valued at $397,396. 5.30% of the stock is currently owned by company insiders.

Institutional Trading of Ardelyx

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Ardelyx by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 18,979,483 shares of the biopharmaceutical company’s stock worth $110,650,000 after buying an additional 610,162 shares during the period. Janus Henderson Group PLC grew its position in shares of Ardelyx by 5.0% in the 4th quarter. Janus Henderson Group PLC now owns 14,514,692 shares of the biopharmaceutical company’s stock worth $84,583,000 after buying an additional 690,599 shares during the period. State Street Corp grew its position in shares of Ardelyx by 22.6% in the 4th quarter. State Street Corp now owns 11,912,339 shares of the biopharmaceutical company’s stock worth $69,449,000 after buying an additional 2,193,649 shares during the period. Geode Capital Management LLC grew its position in shares of Ardelyx by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 5,827,618 shares of the biopharmaceutical company’s stock worth $33,981,000 after buying an additional 70,832 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Ardelyx by 88.8% in the 2nd quarter. Bank of America Corp DE now owns 5,527,988 shares of the biopharmaceutical company’s stock worth $21,670,000 after buying an additional 2,600,080 shares during the period. 58.92% of the stock is owned by hedge funds and other institutional investors.

Ardelyx Company Profile

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.