Ardelyx Inc. (NASDAQ:ARDX) SVP Elizabeth A. Grammer sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 23rd. The shares were sold at an average price of $12.00, for a total transaction of $60,000.00. Following the completion of the sale, the senior vice president now owns 1,440 shares in the company, valued at approximately $17,280. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Elizabeth A. Grammer also recently made the following trade(s):
- On Monday, September 19th, Elizabeth A. Grammer sold 6,859 shares of Ardelyx stock. The shares were sold at an average price of $11.21, for a total transaction of $76,889.39.
Ardelyx Inc. (NASDAQ:ARDX) opened at 12.90 on Thursday. The firm has a 50-day moving average of $10.79 and a 200 day moving average of $9.10. Ardelyx Inc. has a 52-week low of $6.36 and a 52-week high of $21.27. The firm’s market cap is $609.53 million.
Ardelyx (NASDAQ:ARDX) last released its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by $0.08. On average, equities research analysts forecast that Ardelyx Inc. will post ($3.03) earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in ARDX. BlackRock Fund Advisors raised its position in Ardelyx by 0.9% in the second quarter. BlackRock Fund Advisors now owns 1,033,233 shares of the biopharmaceutical company’s stock worth $9,020,000 after buying an additional 9,282 shares in the last quarter. Vanguard Group Inc. raised its position in Ardelyx by 2.7% in the second quarter. Vanguard Group Inc. now owns 704,520 shares of the biopharmaceutical company’s stock worth $6,151,000 after buying an additional 18,802 shares in the last quarter. Foresite Capital Management III LLC acquired a new position in Ardelyx during the first quarter worth approximately $5,038,000. BlackRock Institutional Trust Company N.A. raised its position in Ardelyx by 4.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 324,788 shares of the biopharmaceutical company’s stock worth $2,835,000 after buying an additional 13,623 shares in the last quarter. Finally, Deerfield Management Co. acquired a new position in Ardelyx during the first quarter worth approximately $2,137,000. 62.84% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have commented on ARDX shares. Zacks Investment Research upgraded shares of Ardelyx from a “sell” rating to a “hold” rating in a research note on Tuesday, June 14th. Leerink Swann reiterated a “buy” rating on shares of Ardelyx in a research note on Thursday, June 23rd. Cantor Fitzgerald reiterated a “buy” rating on shares of Ardelyx in a research note on Wednesday, June 22nd. Wedbush reiterated an “outperform” rating and set a $24.00 price objective on shares of Ardelyx in a research note on Thursday, June 23rd. Finally, Citigroup Inc. lowered their price objective 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. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $20.00.
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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