Ardelyx (NASDAQ:ARDX) CEO Michael Raab Sells 58,574 Shares of Stock

by · The Markets Daily

Ardelyx, Inc. (NASDAQ:ARDX – Get Free Report) CEO Michael Raab sold 58,574 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $3.86, for a total value of $226,095.64. Following the transaction, the chief executive officer directly owned 1,619,792 shares of the company’s stock, valued at $6,252,397.12. This represents a 3.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Ardelyx Stock Performance

ARDX traded up $0.04 during midday 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 company has a fifty day simple moving average of $4.97 and a 200 day simple moving average of $5.75. The stock has a market cap of $941.94 million, a P/E ratio of -17.18 and a beta of 0.70. Ardelyx, Inc. has a twelve month low of $3.72 and a twelve month high of $8.40.

Ardelyx (NASDAQ:ARDX – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). Ardelyx had a negative return on equity of 36.00% and a negative net margin of 12.35%.The business had revenue of $120.88 million for the quarter, compared to analyst estimates of $121.03 million. During the same quarter last year, the firm earned ($0.08) earnings per share. The firm’s quarterly revenue was up 34.3% compared to the same quarter last year. Research analysts expect that Ardelyx, Inc. will post -0.2 earnings per share for the current year.

Institutional Trading of Ardelyx

Institutional investors and hedge funds have recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. acquired a new position in shares of Ardelyx in the second quarter valued at $35,000. SCS Capital Management LLC acquired a new stake in Ardelyx during the second quarter worth $52,000. ADAR1 Capital Management LLC bought a new stake in Ardelyx in the 2nd quarter valued at $56,000. State of Wyoming acquired a new position in shares of Ardelyx in the 2nd quarter valued at $61,000. Finally, PVG Asset Management Corp bought a new position in shares of Ardelyx during the 1st quarter worth about $65,000. 58.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ARDX shares. TD Cowen reduced their price target on shares of Ardelyx from $13.00 to $10.00 and set a “buy” rating for the company in a report on Friday, August 7th. Zacks Research downgraded shares of Ardelyx from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 22nd. BTIG Research cut their price objective on shares of Ardelyx from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, August 7th. HC Wainwright reaffirmed a “buy” rating and set a $13.00 price objective on shares of Ardelyx in a research report on Friday, August 7th. Finally, LADENBURG THALM/SH SH assumed coverage on shares of Ardelyx in a research note on Tuesday, June 16th. They issued a “buy” rating and a $16.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $13.90.

Read Our Latest Report on ARDX

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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