Ardelyx (NASDAQ:ARDX) Insider Sells $61,068.15 in Stock

by · The Cerbat Gem

Ardelyx, Inc. (NASDAQ:ARDX – Get Free Report) insider Eric Duane Foster sold 10,439 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 $61,068.15. Following the sale, the insider owned 425,970 shares of the company’s stock, valued at approximately $2,491,924.50. This represents a 2.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ardelyx Stock Up 0.3%

Shares of NASDAQ ARDX traded up $0.02 during midday trading on Monday, hitting $5.75. The company’s stock had a trading volume of 7,054,837 shares, compared to its average volume of 3,578,790. The business’s fifty day simple moving average is $6.76 and its two-hundred day simple moving average is $6.13. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -23.00 and a beta of 0.57. The company has a debt-to-equity ratio of 1.21, a current ratio of 4.31 and a quick ratio of 4.11. Ardelyx, Inc. has a 1 year low of $3.21 and a 1 year high of $8.40.

Ardelyx (NASDAQ:ARDX – Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). The firm had revenue of $125.22 million during the quarter, compared to analysts’ expectations of $118.04 million. Ardelyx had a negative net margin of 15.12% and a negative return on equity of 40.63%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.02 earnings per share. On average, equities analysts predict that Ardelyx, Inc. will post -0.18 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Invesco Ltd. lifted its holdings in shares of Ardelyx by 23.1% in the 4th quarter. Invesco Ltd. now owns 317,410 shares of the biopharmaceutical company’s stock worth $1,851,000 after purchasing an additional 59,597 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its stake in Ardelyx by 4.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 38,512 shares of the biopharmaceutical company’s stock valued at $225,000 after buying an additional 1,722 shares during the period. Mackenzie Financial Corp raised its position in shares of Ardelyx by 12.8% during the 4th quarter. Mackenzie Financial Corp now owns 199,550 shares of the biopharmaceutical company’s stock worth $1,155,000 after buying an additional 22,715 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Ardelyx by 1,690.9% in the 4th quarter. NewEdge Advisors LLC now owns 17,909 shares of the biopharmaceutical company’s stock worth $104,000 after acquiring an additional 16,909 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of Ardelyx during the fourth quarter valued at approximately $698,000. 58.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ARDX shares. Wedbush reaffirmed an “outperform” rating and set a $19.00 price target on shares of Ardelyx in a report on Monday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Ardelyx in a report on Tuesday, January 27th. Raymond James Financial reissued a “strong-buy” rating and set a $19.00 target price on shares of Ardelyx in a research note on Thursday, January 8th. TD Cowen restated a “buy” rating on shares of Ardelyx in a research note on Thursday, January 29th. Finally, BTIG Research reiterated a “buy” rating and issued a $17.00 price objective on shares of Ardelyx in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Ardelyx currently has a consensus rating of “Buy” and a consensus price target of $15.09.

View Our Latest Analysis 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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