Ardelyx (NASDAQ:ARDX) Share Price Passes Above 50-Day Moving Average – Should You Sell?

Ardelyx, Inc. (NASDAQ:ARDX) shares crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $6.11 and traded as high as $6.39. Ardelyx shares last traded at $6.06, with a volume of 2,106,350 shares traded.

Analyst Ratings Changes

ARDX has been the subject of several analyst reports. Leerink Partners reaffirmed an “outperform” rating on shares of Ardelyx in a research note on Thursday, March 12th. Williams Trading set a $17.00 price objective on shares of Ardelyx in a research note on Thursday, March 12th. Weiss Ratings restated a “sell (d-)” rating on shares of Ardelyx in a report on Monday, April 20th. Finally, LADENBURG THALM/SH SH began coverage on Ardelyx in a report on Tuesday, June 16th. They issued a “buy” rating and a $16.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $15.73.

Ardelyx Stock Performance

The company has a quick ratio of 3.28, a current ratio of 3.49 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $1.50 billion, a P/E ratio of -26.35 and a beta of 0.58. The company’s 50 day moving average is $6.11 and its 200-day moving average is $6.30.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). Ardelyx had a negative net margin of 13.58% and a negative return on equity of 38.11%. The company had revenue of $94.47 million during the quarter, compared to the consensus estimate of $92.78 million. During the same period last year, the firm posted ($0.17) earnings per share. The company’s revenue for the quarter was up 27.5% on a year-over-year basis. As a group, equities analysts anticipate that Ardelyx, Inc. will post -0.07 EPS for the current year.

Insider Activity

In related news, insider Eric Duane Foster sold 7,998 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $6.27, for a total value of $50,147.46. Following the completion of the sale, the insider directly owned 417,972 shares of the company’s stock, valued at $2,620,684.44. The trade was a 1.88% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Mike Kelliher sold 7,248 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $6.27, for a total value of $45,444.96. Following the transaction, the insider directly owned 357,418 shares in the company, valued at approximately $2,241,010.86. This trade represents a 1.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 24,572 shares of company stock valued at $154,066. 5.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Ardelyx

Several hedge funds and other institutional investors have recently modified their holdings of ARDX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Ardelyx by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 159,061 shares of the biopharmaceutical company’s stock worth $781,000 after purchasing an additional 4,436 shares during the period. Goldman Sachs Group Inc. grew its position in Ardelyx by 10.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,378,738 shares of the biopharmaceutical company’s stock valued at $11,680,000 after purchasing an additional 221,486 shares during the period. Focus Partners Wealth acquired a new stake in Ardelyx in the 1st quarter valued at $72,000. Strs Ohio bought a new stake in Ardelyx during the 1st quarter valued at $135,000. Finally, Legal & General Group Plc increased its stake in Ardelyx by 13.5% during the 2nd quarter. Legal & General Group Plc now owns 275,344 shares of the biopharmaceutical company’s stock valued at $1,080,000 after purchasing an additional 32,738 shares in the last quarter. Institutional investors own 58.92% of the company’s stock.

Ardelyx Company Profile

Ardelyx, Inc (NASDAQ: ARDX) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing targeted small molecule drugs for cardio‐renal and gastrointestinal diseases. The company’s lead marketed product, tenapanor (sold under the brand name XPHOZAH in the United States), is approved for the treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis. Ardelyx’s proprietary approach targets epithelial transporters in the gastrointestinal tract, offering localized activity with limited systemic exposure.

Beyond tenapanor, Ardelyx’s development pipeline includes treatments designed to address other complications in kidney disease and related metabolic disorders.