Ardelyx (NASDAQ:ARDX) Insider James Parker Brady Sells 1,846 Shares of Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider James Parker Brady sold 1,846 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $6.27, for a total value of $11,574.42. Following the completion of the sale, the insider owned 261,066 shares of the company’s stock, valued at $1,636,883.82. This trade represents a 0.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ardelyx Stock Down 3.8%

Ardelyx stock opened at $6.11 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.49 and a quick ratio of 3.28. The business has a 50 day simple moving average of $6.08 and a 200-day simple moving average of $6.29. The stock has a market capitalization of $1.51 billion, a PE ratio of -26.56 and a beta of 0.62. Ardelyx, Inc. has a 12 month low of $3.49 and a 12 month high of $8.40.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The firm had revenue of $94.47 million during the quarter, compared to analyst estimates of $92.78 million. Ardelyx had a negative return on equity of 38.11% and a negative net margin of 13.58%.The business’s revenue was up 27.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.17) earnings per share. On average, analysts anticipate that Ardelyx, Inc. will post -0.05 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on ARDX shares. Williams Trading set a $17.00 price target on Ardelyx in a research note on Thursday, March 12th. BTIG Research reaffirmed a “buy” rating and issued a $17.00 price target on shares of Ardelyx in a research note on Friday, February 20th. Leerink Partners reaffirmed an “outperform” rating on shares of Ardelyx in a research note on Thursday, March 12th. HC Wainwright lifted their price target on Ardelyx from $10.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $19.00 price target 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 assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Ardelyx currently has an average rating of “Moderate Buy” and a consensus target price of $15.70.

Hedge Funds Weigh In On Ardelyx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Ardelyx by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 18,979,483 shares of the biopharmaceutical company’s stock worth $110,650,000 after buying an additional 610,162 shares during the last quarter. Janus Henderson Group PLC boosted 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 buying an additional 690,599 shares during the last quarter. State Street Corp boosted 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 buying an additional 2,193,649 shares during the last quarter. Geode Capital Management LLC boosted 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 buying an additional 70,832 shares during the last quarter. Finally, Bank of America Corp DE boosted 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 buying an additional 2,600,080 shares during the last quarter. Institutional investors and hedge funds own 58.92% of the company’s stock.

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.