Ardelyx (NASDAQ:ARDX) Research Coverage Started at BTIG Research

BTIG Research began coverage on shares of Ardelyx (NASDAQ:ARDX) in a research note released on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $14.00 price target on the biopharmaceutical company’s stock.

A number of other analysts have also weighed in on ARDX. Citigroup cut their target price on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Jefferies Financial Group lowered their target price on Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Raymond James reissued a “strong-buy” rating and set a $13.00 price target (down from $15.00) on shares of Ardelyx in a research note on Friday, February 21st. Piper Sandler upped their price objective on Ardelyx from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Finally, Cantor Fitzgerald upgraded shares of Ardelyx to a “strong-buy” rating in a report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $10.44.

Ardelyx Price Performance

Shares of ARDX stock opened at $5.32 on Tuesday. Ardelyx has a twelve month low of $4.32 and a twelve month high of $9.61. 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 business has a fifty day simple moving average of $5.38 and a 200 day simple moving average of $5.60. The company has a market cap of $1.27 billion, a P/E ratio of -33.25 and a beta of 0.85.

Ardelyx (NASDAQ:ARDX) last posted its earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02. The firm had revenue of $116.13 million during the quarter, compared to analysts’ expectations of $111.16 million. Ardelyx had a negative net margin of 11.73% and a negative return on equity of 24.87%. On average, sell-side analysts forecast that Ardelyx will post -0.18 EPS for the current fiscal year.

Insider Activity

In related news, Director David M. Mott bought 213,300 shares of Ardelyx stock in a transaction that occurred on Thursday, December 19th. The shares were acquired at an average cost of $4.67 per share, for a total transaction of $996,111.00. Following the completion of the acquisition, the director now directly owns 1,638,765 shares of the company’s stock, valued at approximately $7,653,032.55. The trade was a 14.96 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Laura A. Williams sold 4,941 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $5.62, for a total transaction of $27,768.42. Following the transaction, the insider now owns 303,804 shares of the company’s stock, valued at approximately $1,707,378.48. The trade was a 1.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 490,029 shares of company stock valued at $2,377,766 and sold 141,408 shares valued at $761,963. Insiders own 5.90% of the company’s stock.

Institutional Trading of Ardelyx

A number of institutional investors have recently bought and sold shares of ARDX. GF Fund Management CO. LTD. bought a new position in shares of Ardelyx in the 4th quarter worth about $25,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Ardelyx during the 4th quarter valued at about $35,000. SBI Securities Co. Ltd. acquired a new stake in Ardelyx during the fourth quarter worth approximately $41,000. Quarry LP bought a new stake in Ardelyx in the fourth quarter worth approximately $51,000. Finally, Rehmann Capital Advisory Group acquired a new position in Ardelyx in the fourth quarter valued at approximately $51,000. 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.