Ardelyx (NASDAQ:ARDX) Receives Overweight Rating from Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Ardelyx (NASDAQ:ARDXFree Report) in a report issued on Thursday, Benzinga reports.

Other equities analysts also recently issued reports about the stock. Wedbush reaffirmed an outperform rating and set a $15.00 price objective on shares of Ardelyx in a report on Friday, May 24th. Piper Sandler reaffirmed an overweight rating and set a $15.00 price objective on shares of Ardelyx in a report on Friday, May 24th. StockNews.com raised shares of Ardelyx from a sell rating to a hold rating in a report on Thursday, June 6th. Leerink Partnrs reaffirmed an outperform rating on shares of Ardelyx in a report on Friday, April 5th. Finally, SVB Leerink assumed coverage on shares of Ardelyx in a research note on Friday, April 5th. They issued an outperform rating and a $14.00 price target on the stock. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of Buy and a consensus target price of $12.81.

View Our Latest Stock Report on ARDX

Ardelyx Stock Performance

Shares of NASDAQ ARDX opened at $6.16 on Thursday. The company’s fifty day moving average price is $7.01 and its 200 day moving average price is $7.59. Ardelyx has a 1 year low of $3.16 and a 1 year high of $10.13. The company has a market capitalization of $1.43 billion, a PE ratio of -22.00 and a beta of 0.79. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.36 and a current ratio of 4.53.

Ardelyx (NASDAQ:ARDXGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.02. The business had revenue of $46.00 million for the quarter, compared to the consensus estimate of $36.40 million. Ardelyx had a negative net margin of 41.36% and a negative return on equity of 41.65%. The company’s revenue was up 303.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.13) earnings per share. On average, research analysts predict that Ardelyx will post -0.36 earnings per share for the current year.

Insider Buying and Selling at Ardelyx

In other news, insider David P. Rosenbaum sold 17,872 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $7.00, for a total value of $125,104.00. Following the completion of the transaction, the insider now owns 158,502 shares of the company’s stock, valued at $1,109,514. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider David P. Rosenbaum sold 17,872 shares of Ardelyx stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $7.00, for a total value of $125,104.00. Following the completion of the transaction, the insider now owns 158,502 shares in the company, valued at $1,109,514. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert Ora Felsch sold 207,988 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $8.81, for a total transaction of $1,832,374.28. Following the sale, the insider now owns 95,947 shares of the company’s stock, valued at approximately $845,293.07. The disclosure for this sale can be found here. Insiders sold a total of 495,327 shares of company stock worth $3,886,619 over the last three months. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Ardelyx

Several institutional investors have recently bought and sold shares of ARDX. HighMark Wealth Management LLC acquired a new position in Ardelyx in the 1st quarter valued at $36,000. SJS Investment Consulting Inc. acquired a new position in Ardelyx in the 4th quarter valued at $62,000. Sherbrooke Park Advisers LLC purchased a new stake in Ardelyx in the 3rd quarter worth approximately $63,000. Jump Financial LLC purchased a new position in shares of Ardelyx in the 4th quarter valued at approximately $63,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Ardelyx in the 1st quarter valued at approximately $64,000. 58.92% of the stock is owned by institutional investors and hedge funds.

Ardelyx Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Ardelyx (NASDAQ:ARDX)

Receive News & Ratings for Ardelyx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ardelyx and related companies with MarketBeat.com's FREE daily email newsletter.