SG Americas Securities LLC Has $727,000 Stock Holdings in Ardelyx, Inc. $ARDX

SG Americas Securities LLC increased its position in Ardelyx, Inc. (NASDAQ:ARDX) by 514.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 131,925 shares of the biopharmaceutical company’s stock after acquiring an additional 110,459 shares during the quarter. SG Americas Securities LLC’s holdings in Ardelyx were worth $727,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Ardelyx by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 159,061 shares of the biopharmaceutical company’s stock valued at $781,000 after acquiring an additional 4,436 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Ardelyx by 10.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,378,738 shares of the biopharmaceutical company’s stock worth $11,680,000 after purchasing an additional 221,486 shares during the last quarter. Focus Partners Wealth acquired a new stake in Ardelyx in the first quarter valued at $72,000. Strs Ohio bought a new position in Ardelyx during the 1st quarter worth $135,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Ardelyx by 21.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 65,030 shares of the biopharmaceutical company’s stock worth $278,000 after buying an additional 11,694 shares during the period. 58.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ardelyx

In other Ardelyx news, insider Elizabeth A. Grammer sold 5,995 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $5.54, for a total transaction of $33,212.30. Following the completion of the sale, the insider owned 299,895 shares in the company, valued at approximately $1,661,418.30. The trade was a 1.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Laura A. Williams sold 50,000 shares of the firm’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $6.98, for a total transaction of $349,000.00. Following the completion of the transaction, the insider directly owned 361,563 shares in the company, valued at $2,523,709.74. This trade represents a 12.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 114,868 shares of company stock valued at $708,369 in the last 90 days. 4.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Piper Sandler raised Ardelyx from a “neutral” rating to an “overweight” rating and increased their price target for the company from $10.00 to $16.00 in a research note on Thursday, January 8th. Wedbush increased their target price on shares of Ardelyx from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Wednesday. Citigroup boosted their price target on shares of Ardelyx from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. TD Cowen reaffirmed a “buy” rating on shares of Ardelyx in a research note on Friday, October 31st. Finally, Raymond James Financial reissued a “strong-buy” rating and set a $19.00 target price on shares of Ardelyx in a research note on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Ardelyx presently has a consensus rating of “Buy” and an average target price of $14.30.

Ardelyx Price Performance

ARDX stock opened at $7.99 on Thursday. The company has a debt-to-equity ratio of 1.31, a current ratio of 4.41 and a quick ratio of 4.11. The company’s 50-day moving average is $6.11 and its 200-day moving average is $5.68. The stock has a market capitalization of $1.94 billion, a PE ratio of -34.74 and a beta of 0.56. Ardelyx, Inc. has a 1 year low of $3.21 and a 1 year high of $8.17.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $0.00 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.06. The business had revenue of $110.33 million for the quarter, compared to the consensus estimate of $100.44 million. Ardelyx had a negative return on equity of 36.91% and a negative net margin of 14.20%.Ardelyx’s revenue for the quarter was up 14.6% on a year-over-year basis. Equities research analysts expect that Ardelyx, Inc. will post -0.18 EPS for the current fiscal year.

Ardelyx 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.