Ardelyx (NASDAQ:ARDX) Shares Up 8.3% – Still a Buy?

Shares of Ardelyx, Inc. (NASDAQ:ARDX) were up 8.3% on Monday . The company traded as high as $5.82 and last traded at $5.49. Approximately 4,155,661 shares traded hands during trading, an increase of 0% from the average daily volume of 4,141,302 shares. The stock had previously closed at $5.07.

Analysts Set New Price Targets

Several research analysts have issued reports on ARDX shares. Jefferies Financial Group cut their price target on Ardelyx from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Citigroup lowered their target price on Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, HC Wainwright downgraded shares of Ardelyx from a “buy” rating to a “neutral” rating and reduced their price target for the company from $11.00 to $5.50 in a research report on Monday, November 11th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Ardelyx presently has an average rating of “Moderate Buy” and an average target price of $9.25.

Ardelyx Price Performance

The firm has a market cap of $1.27 billion, a P/E ratio of -17.83 and a beta of 0.85. The company has a fifty day moving average of $5.19 and a 200-day moving average of $5.68. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87.

Insider Transactions at Ardelyx

In related news, CEO Michael Raab sold 41,666 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $5.31, for a total transaction of $221,246.46. Following the transaction, the chief executive officer now directly owns 1,129,552 shares in the company, valued at approximately $5,997,921.12. The trade was a 3.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David M. Mott acquired 213,300 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was purchased at an average price of $4.67 per share, with a total value of $996,111.00. Following the purchase, the director now owns 1,638,765 shares in the company, valued at approximately $7,653,032.55. The trade was a 14.96 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 218,358 shares of company stock worth $1,189,516 in the last quarter. 5.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Ardelyx by 3.4% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 90,000 shares of the biopharmaceutical company’s stock worth $599,000 after buying an additional 3,000 shares during the last quarter. Aigen Investment Management LP raised its position in Ardelyx by 29.4% in the third quarter. Aigen Investment Management LP now owns 23,510 shares of the biopharmaceutical company’s stock worth $162,000 after acquiring an additional 5,346 shares during the period. Values First Advisors Inc. raised its position in Ardelyx by 14.6% in the third quarter. Values First Advisors Inc. now owns 46,282 shares of the biopharmaceutical company’s stock worth $319,000 after acquiring an additional 5,890 shares during the period. JPMorgan Chase & Co. boosted its stake in Ardelyx by 1.6% in the third quarter. JPMorgan Chase & Co. now owns 387,144 shares of the biopharmaceutical company’s stock valued at $2,667,000 after acquiring an additional 6,093 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of Ardelyx by 34.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 28,365 shares of the biopharmaceutical company’s stock valued at $195,000 after acquiring an additional 7,245 shares during the period. Institutional investors own 58.92% of the company’s stock.

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.