Ardelyx Inc. (NASDAQ:ARDX) SVP Elizabeth A. Grammer sold 6,859 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $11.21, for a total transaction of $76,889.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Ardelyx Inc. (NASDAQ:ARDX) opened at 12.31 on Monday. The stock’s 50 day moving average is $10.58 and its 200-day moving average is $9.00. The stock’s market capitalization is $581.65 million. Ardelyx Inc. has a 12 month low of $6.36 and a 12 month high of $21.27.
Ardelyx (NASDAQ:ARDX) last released its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of ($0.75) by $0.08. On average, equities research analysts expect that Ardelyx Inc. will post ($3.03) earnings per share for the current year.
A number of analysts recently weighed in on ARDX shares. Citigroup Inc. cut their target price on shares of Ardelyx from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, August 10th. Zacks Investment Research upgraded shares of Ardelyx from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Tuesday, July 12th. Cantor Fitzgerald reiterated a “buy” rating on shares of Ardelyx in a research note on Wednesday, June 22nd. Leerink Swann reiterated a “buy” rating on shares of Ardelyx in a research note on Thursday, June 23rd. Finally, Wedbush reiterated an “outperform” rating and issued a $24.00 price target on shares of Ardelyx in a research note on Thursday, June 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $20.00.
A number of institutional investors have recently added to or reduced their stakes in ARDX. Goldman Sachs Group Inc. bought a new position in Ardelyx during the first quarter valued at approximately $101,000. American International Group Inc. raised its position in Ardelyx by 36.8% in the second quarter. American International Group Inc. now owns 13,176 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 3,544 shares during the period. Highbridge Capital Management LLC bought a new position in Ardelyx during the second quarter valued at approximately $129,000. Metropolitan Life Insurance Co. NY raised its position in Ardelyx by 57.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 19,529 shares of the biopharmaceutical company’s stock valued at $152,000 after buying an additional 7,103 shares during the period. Finally, Sabby Management LLC bought a new position in Ardelyx during the first quarter valued at approximately $173,000. 62.84% of the stock is currently owned by hedge funds and other institutional investors.
Ardelyx Company Profile
Ardelyx, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of minimally systemic therapeutic drugs that work in the gastrointestinal (GI) tract to treat GI and cardio-renal diseases. The Company operates through research, development and commercialization of biopharmaceutical products segment.
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