John Bishop Sells 19,750 Shares of Ardelyx (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider John Bishop sold 19,750 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $3.86, for a total value of $76,235.00. Following the completion of the transaction, the insider directly owned 317,095 shares in the company, valued at $1,223,986.70. The trade was a 5.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Ardelyx Price Performance

Shares of Ardelyx stock traded up $0.04 during trading on Tuesday, reaching $3.78. The company’s stock had a trading volume of 3,418,138 shares, compared to its average volume of 5,069,888. The company has a current ratio of 3.34, a quick ratio of 3.15 and a debt-to-equity ratio of 1.69. The stock has a market capitalization of $941.94 million, a P/E ratio of -17.18 and a beta of 0.70. Ardelyx, Inc. has a one year low of $3.72 and a one year high of $8.40. The stock has a 50-day moving average price of $4.97 and a two-hundred day moving average price of $5.75.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The company had revenue of $120.88 million during the quarter, compared to the consensus estimate of $121.03 million. Ardelyx had a negative net margin of 12.35% and a negative return on equity of 36.00%. The company’s revenue was up 34.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.08) earnings per share. As a group, sell-side analysts anticipate that Ardelyx, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Ardelyx

Hedge funds have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 valued at $781,000 after acquiring an additional 4,436 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Ardelyx by 10.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,378,738 shares of the biopharmaceutical company’s stock worth $11,680,000 after purchasing an additional 221,486 shares in the last quarter. Focus Partners Wealth purchased a new position in Ardelyx in the 1st quarter worth about $72,000. Strs Ohio purchased a new position in shares of Ardelyx during the first quarter valued at approximately $135,000. Finally, Legal & General Group Plc boosted its stake in shares of Ardelyx by 13.5% in the 2nd quarter. Legal & General Group Plc now owns 275,344 shares of the biopharmaceutical company’s stock worth $1,080,000 after buying an additional 32,738 shares during the last quarter. Institutional investors own 58.92% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ARDX. Wedbush reaffirmed an “outperform” rating and issued a $9.00 target price on shares of Ardelyx in a research report on Tuesday, August 18th. Citigroup decreased their target price on Ardelyx from $14.00 to $11.00 and set a “buy” rating on the stock in a research report on Monday, August 10th. Piper Sandler dropped their price target on shares of Ardelyx from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. Weiss Ratings downgraded shares of Ardelyx from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 29th. Finally, BTIG Research dropped their price objective on shares of Ardelyx from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.90.

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.