Eric Duane Foster Sells 7,998 Shares of Ardelyx (NASDAQ:ARDX) Stock

by · The Cerbat Gem

Ardelyx, Inc. (NASDAQ:ARDX – Get Free Report) insider Eric Duane Foster sold 7,998 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $6.27, for a total value of $50,147.46. Following the transaction, the insider directly owned 417,972 shares in the company, valued at $2,620,684.44. This trade represents a 1.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Ardelyx Trading Down 3.8%

Shares of Ardelyx stock traded down $0.24 during trading hours on Friday, hitting $6.11. The company’s stock had a trading volume of 2,314,795 shares, compared to its average volume of 4,388,985. Ardelyx, Inc. has a twelve month low of $3.49 and a twelve month high of $8.40. The firm has a fifty day moving average of $6.08 and a 200-day moving average of $6.29. The stock has a market cap of $1.51 billion, a price-to-earnings 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 (NASDAQ:ARDX – Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported ($0.15) EPS 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 business had revenue of $94.47 million during the quarter, compared to analyst estimates of $92.78 million. During the same period last year, the company earned ($0.17) EPS. The business’s revenue for the quarter was up 27.5% on a year-over-year basis. Research analysts forecast that Ardelyx, Inc. will post -0.05 EPS for the current year.

Institutional Investors Weigh In On Ardelyx

Several institutional investors and hedge funds have recently modified their holdings of ARDX. Bank of America Corp DE increased its holdings in Ardelyx by 5.8% during the 1st quarter. Bank of America Corp DE now owns 2,336,994 shares of the biopharmaceutical company’s stock worth $13,999,000 after purchasing an additional 128,301 shares during the period. ADAR1 Capital Management LLC purchased a new stake in Ardelyx during the 1st quarter worth about $143,000. Amundi purchased a new stake in Ardelyx during the 1st quarter worth about $86,000. California State Teachers Retirement System increased its holdings in Ardelyx by 39.3% during the 1st quarter. California State Teachers Retirement System now owns 303,137 shares of the biopharmaceutical company’s stock worth $1,816,000 after purchasing an additional 85,475 shares during the period. Finally, Redmile Group LLC purchased a new stake in Ardelyx during the 1st quarter worth about $4,393,000. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ARDX shares. HC Wainwright boosted their price objective on Ardelyx from $10.00 to $18.00 and gave the company a “buy” rating in a report on Friday, February 20th. Leerink Partners reiterated an “outperform” rating on shares of Ardelyx in a report on Thursday, March 12th. Williams Trading set a $17.00 price objective on Ardelyx in a report on Thursday, March 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ardelyx in a report on Monday, April 20th. Finally, TD Cowen reiterated a “buy” rating on shares of Ardelyx in a report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $15.70.

View 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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