Insider Selling: Ardelyx (NASDAQ:ARDX) Insider Sells 1,846 Shares of Stock

by · The Cerbat Gem

Ardelyx, Inc. (NASDAQ:ARDX – Get Free Report) insider James Parker Brady sold 1,846 shares of Ardelyx stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $6.27, for a total value of $11,574.42. Following the sale, the insider owned 261,066 shares of the company’s stock, valued at approximately $1,636,883.82. This represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Ardelyx Stock Down 3.8%

Shares of Ardelyx stock traded down $0.24 during trading on Friday, hitting $6.11. 2,314,795 shares of the stock traded hands, compared to its average volume of 4,388,985. The stock has a market cap of $1.51 billion, a P/E ratio of -26.56 and a beta of 0.62. The company has a debt-to-equity ratio of 1.37, a quick ratio of 3.28 and a current ratio of 3.49. Ardelyx, Inc. has a twelve month low of $3.49 and a twelve month high of $8.40. The company has a fifty day moving average price of $6.08 and a two-hundred day moving average price of $6.29.

Ardelyx (NASDAQ:ARDX – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The firm had revenue of $94.47 million for the quarter, compared to analyst estimates of $92.78 million. Ardelyx had a negative net margin of 13.58% and a negative return on equity of 38.11%. The firm’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. Equities research analysts predict that Ardelyx, Inc. will post -0.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ARDX shares. TD Cowen restated a “buy” rating on shares of Ardelyx in a report on Thursday, January 29th. Jefferies Financial Group restated a “buy” rating and issued a $15.00 target price on shares of Ardelyx in a report on Tuesday, January 27th. Leerink Partners restated an “outperform” rating on shares of Ardelyx in a report on Thursday, March 12th. HC Wainwright boosted their target price on Ardelyx from $10.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Finally, Williams Trading set a $17.00 target price on Ardelyx in a report on Thursday, March 12th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Ardelyx currently has a consensus rating of “Moderate Buy” and an average target price of $15.70.

Get Our Latest Stock Report on Ardelyx

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ARDX. First Horizon Corp increased its position in Ardelyx by 120.4% in the 4th 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 Ardelyx by 147.0% in the 3rd quarter. SBI Securities Co. Ltd. now owns 10,253 shares of the biopharmaceutical company’s stock worth $56,000 after buying an additional 6,102 shares during the period. Swiss Life Asset Management Ltd bought a new position in Ardelyx in the 3rd quarter worth approximately $57,000. Sumitomo Mitsui Trust Group Inc. bought a new position in Ardelyx in the 4th quarter worth approximately $60,000. Finally, State of Wyoming bought a new position in Ardelyx in the 2nd quarter worth approximately $61,000. 58.92% of the stock is owned by institutional investors.

Ardelyx Company Profile

(Get Free Report)

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.

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