Ardelyx, Inc. (NASDAQ:ARDX) Given Average Recommendation of “Moderate Buy” by Brokerages

Ardelyx, Inc. (NASDAQ:ARDX) has been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $15.7273.

A number of analysts have weighed in on the company. Williams Trading set a $17.00 price target on Ardelyx in a research note on Thursday, March 12th. LADENBURG THALM/SH SH assumed coverage on Ardelyx in a research note on Tuesday, June 16th. They issued a “buy” rating and a $16.00 price target on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Ardelyx in a research note on Monday, April 20th. Leerink Partners restated an “outperform” rating on shares of Ardelyx in a research note on Thursday, March 12th. Finally, Wedbush restated an “outperform” rating and issued a $19.00 price target on shares of Ardelyx in a research note on Monday, February 23rd.

Insider Activity

In other Ardelyx news, insider Mike Kelliher sold 7,248 shares of Ardelyx stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $6.27, for a total value of $45,444.96. Following the sale, the insider owned 357,418 shares of the company’s stock, valued at approximately $2,241,010.86. The trade was a 1.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Duane Foster sold 7,998 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $6.27, for a total value of $50,147.46. Following the sale, the insider directly owned 417,972 shares in the company, valued at $2,620,684.44. This trade represents a 1.88% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 24,572 shares of company stock worth $154,066 in the last 90 days. 5.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ardelyx

A number of institutional investors and hedge funds have recently bought and sold shares of ARDX. PVG Asset Management Corp purchased a new position in shares of Ardelyx during the 1st quarter worth $65,000. Bank of America Corp DE lifted its stake in shares of Ardelyx by 5.8% during the 1st quarter. Bank of America Corp DE now owns 2,336,994 shares of the biopharmaceutical company’s stock worth $13,999,000 after purchasing an additional 128,301 shares during the period. ADAR1 Capital Management LLC purchased a new position in shares of Ardelyx during the 1st quarter worth $143,000. Amundi purchased a new position in shares of Ardelyx during the 1st quarter worth $86,000. Finally, California State Teachers Retirement System lifted its stake in shares of Ardelyx by 39.3% during the 1st quarter. California State Teachers Retirement System now owns 303,137 shares of the biopharmaceutical company’s stock worth $1,816,000 after purchasing an additional 85,475 shares during the period. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Ardelyx Price Performance

ARDX stock opened at $6.05 on Monday. The firm has a market capitalization of $1.49 billion, a PE ratio of -26.30 and a beta of 0.58. Ardelyx has a 1 year low of $3.49 and a 1 year high of $8.40. 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 $6.11 and a 200-day simple moving average of $6.29.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The firm had revenue of $94.47 million for the quarter, compared to analysts’ expectations of $92.78 million. Ardelyx had a negative return on equity of 38.11% and a negative net margin of 13.58%.The company’s quarterly revenue was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.17) earnings per share. Equities research analysts anticipate that Ardelyx will post -0.07 earnings per share for the current fiscal year.

Ardelyx Company 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.