Ardelyx (NASDAQ:ARDX) Insider Sells 7,758 Shares of Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider Mike Kelliher sold 7,758 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $3.86, for a total value of $29,945.88. Following the completion of the sale, the insider directly owned 349,660 shares of the company’s stock, valued at $1,349,687.60. The trade was a 2.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Ardelyx Stock Up 1.1%

ARDX stock traded up $0.04 on Tuesday, hitting $3.78. 3,418,138 shares of the company’s stock were exchanged, compared to its average volume of 5,069,888. The firm has a 50 day moving average price of $4.97 and a two-hundred day moving average price of $5.75. Ardelyx, Inc. has a 12-month low of $3.72 and a 12-month high of $8.40. The stock has a market cap of $941.94 million, a P/E ratio of -17.18 and a beta of 0.70. The company has a debt-to-equity ratio of 1.69, a quick ratio of 3.15 and a current ratio of 3.34.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). The business had revenue of $120.88 million during the quarter, compared to analysts’ expectations of $121.03 million. Ardelyx had a negative net margin of 12.35% and a negative return on equity of 36.00%. The company’s quarterly revenue was up 34.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) earnings per share. As a group, equities research analysts expect that Ardelyx, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. acquired a new stake in Ardelyx during the second quarter valued at $35,000. SCS Capital Management LLC purchased a new position in shares of Ardelyx in the second quarter worth about $52,000. ADAR1 Capital Management LLC acquired a new position in Ardelyx during the second quarter worth about $56,000. Krilogy Financial LLC purchased a new stake in Ardelyx during the 1st quarter valued at about $70,000. Finally, PVG Asset Management Corp acquired a new stake in Ardelyx in the 1st quarter valued at about $65,000. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on ARDX. Wedbush reiterated an “outperform” rating and issued a $9.00 target price on shares of Ardelyx in a research note on Tuesday, August 18th. BTIG Research cut their price target on shares of Ardelyx from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Weiss Ratings cut shares of Ardelyx from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 29th. Citigroup lowered their price objective on shares of Ardelyx from $14.00 to $11.00 and set a “buy” rating for the company in a research note on Monday, August 10th. Finally, Piper Sandler cut their target price on Ardelyx from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ardelyx presently has a consensus rating of “Moderate Buy” and an average target price of $13.90.

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.