Analysts Set Ardelyx, Inc. (NASDAQ:ARDX) Target Price at $11.55

by · The Cerbat Gem

Shares of Ardelyx, Inc. (NASDAQ:ARDX – Get Free Report) have been given a consensus recommendation of “Moderate Buy” by the thirteen research firms that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, nine have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $11.7273.

Several equities research analysts have issued reports on the stock. Cowen reissued a “buy” rating on shares of Ardelyx in a research report on Friday. Citigroup boosted their price objective on shares of Ardelyx from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Monday. Raymond James Financial assumed coverage on shares of Ardelyx in a research report on Wednesday, September 3rd. They issued a “strong-buy” rating and a $14.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Ardelyx in a research report on Wednesday, October 8th. Finally, UBS Group set a $12.00 price objective on shares of Ardelyx in a research report on Tuesday, August 5th.

View Our Latest Analysis on Ardelyx

Ardelyx Stock Down 5.4%

Shares of NASDAQ ARDX opened at $5.60 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 4.30 and a quick ratio of 4.03. The company has a market cap of $1.35 billion, a P/E ratio of -24.35 and a beta of 0.67. Ardelyx has a 1 year low of $3.21 and a 1 year high of $6.78. The firm has a 50-day simple moving average of $5.74 and a two-hundred day simple moving average of $4.87.

Ardelyx (NASDAQ:ARDX – Get Free Report) last announced its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported $0.00 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.06. The company had revenue of $110.33 million during the quarter, compared to analyst estimates of $100.44 million. Ardelyx had a negative net margin of 14.60% and a negative return on equity of 36.57%. The business’s revenue was up 14.6% compared to the same quarter last year. Research analysts anticipate that Ardelyx will post -0.18 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Mike Kelliher sold 5,417 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $5.93, for a total value of $32,122.81. Following the completion of the sale, the insider owned 276,741 shares of the company’s stock, valued at approximately $1,641,074.13. This represents a 1.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Elizabeth A. Grammer sold 5,841 shares of Ardelyx stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $5.93, for a total transaction of $34,637.13. Following the transaction, the insider directly owned 305,890 shares in the company, valued at approximately $1,813,927.70. The trade was a 1.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 165,551 shares of company stock worth $996,917 over the last 90 days. Corporate insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Ardelyx

Several institutional investors have recently bought and sold shares of the business. Merit Financial Group LLC increased its holdings in Ardelyx by 12.0% during the third quarter. Merit Financial Group LLC now owns 23,680 shares of the biopharmaceutical company’s stock valued at $130,000 after buying an additional 2,537 shares during the period. Brighton Jones LLC increased its holdings in Ardelyx by 25.1% during the third quarter. Brighton Jones LLC now owns 12,701 shares of the biopharmaceutical company’s stock valued at $70,000 after buying an additional 2,550 shares during the period. Savant Capital LLC increased its holdings in Ardelyx by 7.1% during the second quarter. Savant Capital LLC now owns 39,386 shares of the biopharmaceutical company’s stock valued at $154,000 after buying an additional 2,610 shares during the period. E Fund Management Co. Ltd. increased its holdings in Ardelyx by 8.9% during the second quarter. E Fund Management Co. Ltd. now owns 40,023 shares of the biopharmaceutical company’s stock valued at $157,000 after buying an additional 3,255 shares during the period. Finally, Osaic Holdings Inc. increased its holdings in Ardelyx by 28.2% during the second quarter. Osaic Holdings Inc. now owns 16,854 shares of the biopharmaceutical company’s stock valued at $66,000 after buying an additional 3,709 shares during the period. 58.92% of the stock is owned by hedge funds and other institutional investors.

Ardelyx Company Profile

(Get Free Report)

Ardelyx, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines to treat gastrointestinal and cardiorenal therapeutic areas in the United States and internationally. The company’s lead product candidate is tenapanor for the treatment of patients with irritable bowel syndrome with constipation.

Read More