Ardelyx, Inc. (NASDAQ:ARDX) Receives $13.80 Average PT from Brokerages

Shares of Ardelyx, Inc. (NASDAQ:ARDX) have received a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $13.80.

A number of analysts have recently issued reports on the stock. TD Cowen raised their price target on shares of Ardelyx from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Citigroup increased their price objective on Ardelyx from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. BTIG Research lifted their target price on Ardelyx from $14.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $19.00 target price on shares of Ardelyx in a research note on Thursday, January 8th. Finally, Cowen reissued a “buy” rating on shares of Ardelyx in a research note on Friday, October 31st.

Insider Transactions at Ardelyx

In other Ardelyx news, CEO Michael Raab sold 46,887 shares of the company’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $5.54, for a total transaction of $259,753.98. Following the transaction, the chief executive officer directly owned 1,455,363 shares in the company, valued at $8,062,711.02. This represents a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Elizabeth A. Grammer sold 5,995 shares of Ardelyx stock in a transaction on Friday, November 21st. The shares were sold at an average price of $5.54, for a total value of $33,212.30. Following the completion of the sale, the insider directly owned 299,895 shares of the company’s stock, valued at $1,661,418.30. The trade was a 1.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 114,868 shares of company stock valued at $708,369 over the last three months. 4.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ardelyx

Several hedge funds and other institutional investors have recently made changes to their positions in the business. DCF Advisers LLC acquired a new stake in Ardelyx during the second quarter worth approximately $39,000. Brighton Jones LLC purchased a new position in shares of Ardelyx in the 2nd quarter valued at approximately $40,000. SBI Securities Co. Ltd. increased its stake in Ardelyx by 147.0% in the 3rd quarter. SBI Securities Co. Ltd. now owns 10,253 shares of the biopharmaceutical company’s stock valued at $56,000 after buying an additional 6,102 shares during the period. Swiss Life Asset Management Ltd purchased a new position in Ardelyx during the third quarter worth about $57,000. Finally, State of Wyoming acquired a new stake in shares of Ardelyx in the 2nd quarter valued at approximately $61,000. Institutional investors and hedge funds own 58.92% of the company’s stock.

Ardelyx Stock Down 4.1%

NASDAQ ARDX opened at $6.75 on Friday. The business’s fifty day simple moving average is $6.01 and its 200-day simple moving average is $5.62. The company has a quick ratio of 4.11, a current ratio of 4.41 and a debt-to-equity ratio of 1.31. The firm has a market cap of $1.64 billion, a PE ratio of -29.35 and a beta of 0.56. Ardelyx has a 52 week low of $3.21 and a 52 week high of $8.05.

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, beating analysts’ consensus estimates of ($0.06) by $0.06. Ardelyx had a negative net margin of 14.20% and a negative return on equity of 36.91%. The firm had revenue of $110.33 million during the quarter, compared to analyst estimates of $100.44 million. The company’s quarterly revenue was up 14.6% compared to the same quarter last year. As a group, equities analysts anticipate that Ardelyx will post -0.18 earnings per share for the current year.

About Ardelyx

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.