Ardelyx (NASDAQ:ARDX) Insider James Parker Brady Sells 2,543 Shares

Ardelyx, Inc. (NASDAQ:ARDX) insider James Parker Brady sold 2,543 shares of Ardelyx stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $5.85, for a total transaction of $14,876.55. Following the sale, the insider owned 262,912 shares of the company’s stock, valued at $1,538,035.20. The trade was a 0.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ardelyx Stock Up 0.3%

Shares of ARDX stock traded up $0.02 on Monday, hitting $5.75. The stock had a trading volume of 7,054,837 shares, compared to its average volume of 3,578,790. The business has a 50 day moving average price of $6.76 and a 200 day moving average price of $6.13. Ardelyx, Inc. has a one year low of $3.21 and a one year high of $8.40. The company has a market cap of $1.41 billion, a PE ratio of -23.00 and a beta of 0.57. The company has a quick ratio of 4.11, a current ratio of 4.31 and a debt-to-equity ratio of 1.21.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). The firm had revenue of $125.22 million for the quarter, compared to the consensus estimate of $118.04 million. Ardelyx had a negative return on equity of 40.63% and a negative net margin of 15.12%.The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 EPS. Research analysts anticipate that Ardelyx, Inc. will post -0.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ARDX shares. BTIG Research reissued a “buy” rating and issued a $17.00 price target on shares of Ardelyx in a research note on Friday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ardelyx in a research note on Wednesday, January 21st. Citigroup increased their target price on shares of Ardelyx from $11.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Raymond James Financial reissued a “strong-buy” rating and issued a $19.00 price target on shares of Ardelyx in a research note on Thursday, January 8th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Ardelyx in a research note on Thursday, January 29th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $15.09.

Hedge Funds Weigh In On Ardelyx

Several large investors have recently modified their holdings of the business. DCF Advisers LLC purchased a new position in shares of Ardelyx during the 2nd quarter worth $39,000. Brighton Jones LLC acquired a new position in Ardelyx in the second quarter valued at about $40,000. First Horizon Corp boosted its stake in Ardelyx by 120.4% during the fourth quarter. First Horizon Corp now owns 7,906 shares of the biopharmaceutical company’s stock worth $46,000 after buying an additional 4,319 shares during the period. SBI Securities Co. Ltd. increased its position in shares of Ardelyx by 147.0% during the third quarter. SBI Securities Co. Ltd. now owns 10,253 shares of the biopharmaceutical company’s stock valued at $56,000 after acquiring an additional 6,102 shares during the last quarter. Finally, Swiss Life Asset Management Ltd purchased a new stake in shares of Ardelyx in the 3rd quarter valued at approximately $57,000. Institutional investors and hedge funds 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.