Ardelyx, Inc. (NASDAQ:ARDX) Director Buys $388,645.00 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) Director David M. Mott acquired 77,729 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was purchased at an average cost of $5.00 per share, with a total value of $388,645.00. Following the completion of the purchase, the director now directly owns 2,015,494 shares in the company, valued at $10,077,470. This represents a 4.01 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Ardelyx Price Performance

ARDX stock opened at $5.36 on Friday. Ardelyx, Inc. has a 52-week low of $4.32 and a 52-week high of $9.83. The stock’s fifty day simple moving average is $5.33 and its 200-day simple moving average is $5.61. The company has a quick ratio of 4.31, a current ratio of 4.58 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of -33.50 and a beta of 0.85.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.02. Ardelyx had a negative return on equity of 24.87% and a negative net margin of 11.73%. The business had revenue of $116.13 million for the quarter, compared to analysts’ expectations of $111.16 million. Equities research analysts expect that Ardelyx, Inc. will post -0.18 EPS for the current year.

Institutional Investors Weigh In On Ardelyx

Hedge funds have recently made changes to their positions in the business. GF Fund Management CO. LTD. acquired a new stake in shares of Ardelyx during the fourth quarter worth $25,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Ardelyx during the fourth quarter worth $35,000. SBI Securities Co. Ltd. acquired a new stake in shares of Ardelyx during the fourth quarter worth $41,000. Quarry LP acquired a new stake in shares of Ardelyx during the fourth quarter worth $51,000. Finally, Rehmann Capital Advisory Group acquired a new position in Ardelyx in the fourth quarter valued at $51,000. Institutional investors and hedge funds own 58.92% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. HC Wainwright reaffirmed a “neutral” rating and issued a $5.50 price objective on shares of Ardelyx in a research note on Friday, February 21st. Citigroup lowered their target price on Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Raymond James reiterated a “strong-buy” rating and set a $13.00 target price (down previously from $15.00) on shares of Ardelyx in a report on Friday, February 21st. Piper Sandler increased their target price on Ardelyx from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Finally, Cantor Fitzgerald upgraded Ardelyx to a “strong-buy” rating in a report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Ardelyx presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.93.

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.