Ardelyx, Inc. (NASDAQ:ARDX) Director David M. Mott Buys 100,000 Shares

Ardelyx, Inc. (NASDAQ:ARDX) Director David M. Mott bought 100,000 shares of Ardelyx stock in a transaction dated Thursday, May 15th. The shares were acquired at an average price of $3.29 per share, with a total value of $329,000.00. Following the completion of the purchase, the director now directly owns 2,496,871 shares in the company, valued at $8,214,705.59. This trade represents a 4.17% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Ardelyx Price Performance

Shares of ARDX stock traded up $0.18 during trading on Monday, hitting $4.06. The company had a trading volume of 4,992,473 shares, compared to its average volume of 4,456,318. The firm has a market capitalization of $971.38 million, a P/E ratio of -25.38 and a beta of 0.76. Ardelyx, Inc. has a one year low of $3.21 and a one year high of $8.06. The company has a debt-to-equity ratio of 0.87, a quick ratio of 4.31 and a current ratio of 4.58. The stock’s 50-day moving average price is $4.67 and its 200 day moving average price is $5.09.

Ardelyx (NASDAQ:ARDX) last released its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.07). The company had revenue of $74.11 million for the quarter, compared to the consensus estimate of $79.40 million. Ardelyx had a negative net margin of 11.73% and a negative return on equity of 24.87%. The business’s revenue was up 61.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.11) earnings per share. Equities analysts expect that Ardelyx, Inc. will post -0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Ardelyx

Hedge funds have recently bought and sold shares of the company. GF Fund Management CO. LTD. bought a new stake in shares of Ardelyx during the 4th quarter worth approximately $25,000. GAMMA Investing LLC raised its position in Ardelyx by 1,342.0% during the first quarter. GAMMA Investing LLC now owns 5,912 shares of the biopharmaceutical company’s stock valued at $290,000 after purchasing an additional 5,502 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in Ardelyx during the fourth quarter worth $35,000. SBI Securities Co. Ltd. bought a new stake in Ardelyx during the fourth quarter worth $41,000. Finally, Quarry LP acquired a new stake in shares of Ardelyx in the 4th quarter valued at $51,000. 58.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ARDX has been the subject of a number of research analyst reports. LADENBURG THALM/SH SH reaffirmed a “buy” rating and set a $11.00 price objective on shares of Ardelyx in a research report on Friday, March 7th. Raymond James downgraded shares of Ardelyx from a “strong-buy” rating to an “outperform” rating and set a $11.00 target price for the company. in a report on Friday, May 2nd. Cantor Fitzgerald upgraded shares of Ardelyx to a “strong-buy” rating in a research note on Tuesday, March 4th. StockNews.com downgraded shares of Ardelyx from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Finally, Piper Sandler raised Ardelyx to a “hold” rating in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $10.39.

Ardelyx Company Profile

Ardelyx, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines to treat gastrointestinal and cardiorenal therapeutic areas in the United States and internationally. The company’s lead product candidate is tenapanor for the treatment of patients with irritable bowel syndrome with constipation.