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

Ardelyx, Inc. (NASDAQ:ARDX) insider James Parker Brady sold 1,846 shares of the firm’s stock in a transaction 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 transaction, the insider directly owned 261,066 shares in the company, valued at $1,636,883.82. This trade represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Ardelyx Stock Performance

Shares of ARDX traded down $0.24 during trading hours on Friday, reaching $6.11. 2,314,795 shares of the company’s stock traded hands, compared to its average volume of 4,388,985. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of -26.56 and a beta of 0.62. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.49 and a quick ratio of 3.28. Ardelyx, Inc. has a twelve month low of $3.49 and a twelve month high of $8.40. The business’s fifty day simple moving average is $6.08 and its two-hundred day simple moving average is $6.29.

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

Hedge Funds Weigh In On Ardelyx

A number of institutional investors have recently bought and sold shares of ARDX. Bank of America Corp DE increased its stake in Ardelyx by 88.8% in the 2nd 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 in the last quarter. Vanguard Group Inc. increased its stake in Ardelyx by 14.6% in the 3rd quarter. Vanguard Group Inc. now owns 18,369,321 shares of the biopharmaceutical company’s stock worth $101,215,000 after purchasing an additional 2,337,672 shares in the last quarter. State Street Corp increased its stake in Ardelyx by 22.6% in the 4th 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 in the last quarter. Rubric Capital Management LP purchased a new position in Ardelyx in the 1st quarter worth about $11,147,000. Finally, J. Goldman & Co LP increased its stake in Ardelyx by 1,034.8% in the 4th quarter. J. Goldman & Co LP now owns 1,622,736 shares of the biopharmaceutical company’s stock worth $9,461,000 after purchasing an additional 1,479,736 shares in the last quarter. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ARDX. TD Cowen reaffirmed a “buy” rating on shares of Ardelyx in a report on Thursday, January 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ardelyx in a report on Monday, April 20th. BTIG Research reaffirmed a “buy” rating and set a $17.00 target price on shares of Ardelyx in a report on Friday, February 20th. Leerink Partners reissued an “outperform” rating on shares of Ardelyx in a research note on Thursday, March 12th. Finally, Williams Trading set a $17.00 price target on Ardelyx in a research note on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Ardelyx presently has a consensus rating of “Moderate Buy” and an average price target of $15.70.

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.