Ardelyx (NASDAQ:ARDX) Insider Sells $14,458.62 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider John Bishop sold 2,306 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $6.27, for a total transaction of $14,458.62. Following the sale, the insider directly owned 336,845 shares of the company’s stock, valued at approximately $2,112,018.15. This trade represents a 0.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Ardelyx Trading Down 3.8%

ARDX traded down $0.24 on Friday, reaching $6.11. 2,314,795 shares of the company’s stock were exchanged, compared to its average volume of 4,388,985. The company has a debt-to-equity ratio of 1.37, a quick ratio of 3.28 and a current ratio of 3.49. Ardelyx, Inc. has a twelve month low of $3.49 and a twelve month high of $8.40. The company’s 50 day moving average is $6.08 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 quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). Ardelyx had a negative net margin of 13.58% and a negative return on equity of 38.11%. The firm had revenue of $94.47 million during the quarter, compared to analyst estimates of $92.78 million. During the same period last year, the business earned ($0.17) EPS. The firm’s revenue was up 27.5% compared to the same quarter last year. Equities analysts predict that Ardelyx, Inc. will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On Ardelyx

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. TD Cowen reaffirmed a “buy” rating on shares of Ardelyx in a research report on Thursday, January 29th. Williams Trading set a $17.00 target price on Ardelyx in a research note on Thursday, March 12th. Jefferies Financial Group reiterated a “buy” rating and set a $15.00 target price on shares of Ardelyx in a research note on Tuesday, January 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ardelyx in a research note on Monday, April 20th. Finally, Wedbush reiterated an “outperform” rating and set a $19.00 target price on shares of Ardelyx in a research note on Monday, February 23rd. One analyst has 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.70.

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.