Ardelyx Inc. (NASDAQ:ARDX) SVP Jeffrey W. Jacobs sold 6,000 shares of Ardelyx stock in a transaction dated Tuesday, October 11th. The shares were sold at an average price of $15.00, for a total value of $90,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Shares of Ardelyx Inc. (NASDAQ:ARDX) opened at 12.83 on Monday. The stock’s 50 day moving average price is $11.97 and its 200-day moving average price is $9.60. The stock’s market cap is $606.22 million. Ardelyx Inc. has a 52 week low of $6.36 and a 52 week high of $20.98.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by $0.08. Equities analysts anticipate that Ardelyx Inc. will post ($3.03) earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Advisors LLC raised its position in Ardelyx by 0.4% in the second quarter. BlackRock Advisors LLC now owns 68,657 shares of the biopharmaceutical company’s stock valued at $599,000 after buying an additional 305 shares during the last quarter. Vanguard Group Inc. raised its position in Ardelyx by 2.7% in the second quarter. Vanguard Group Inc. now owns 704,520 shares of the biopharmaceutical company’s stock valued at $6,151,000 after buying an additional 18,802 shares during the last quarter. JPMorgan Chase & Co. raised its position in Ardelyx by 167.3% in the second quarter. JPMorgan Chase & Co. now owns 262,556 shares of the biopharmaceutical company’s stock valued at $2,292,000 after buying an additional 164,314 shares during the last quarter. California State Teachers Retirement System raised its position in Ardelyx by 2.1% in the second quarter. California State Teachers Retirement System now owns 47,997 shares of the biopharmaceutical company’s stock valued at $419,000 after buying an additional 992 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Ardelyx by 11.7% in the second quarter. Bank of New York Mellon Corp now owns 99,099 shares of the biopharmaceutical company’s stock valued at $865,000 after buying an additional 10,398 shares during the last quarter. Institutional investors and hedge funds own 62.85% of the company’s stock.

Several analysts recently weighed in on ARDX shares. Zacks Investment Research upgraded Ardelyx from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Tuesday, October 11th. Cantor Fitzgerald restated a “buy” rating on shares of Ardelyx in a report on Wednesday, June 22nd. Leerink Swann restated a “buy” rating on shares of Ardelyx in a report on Thursday, June 23rd. Wedbush reiterated an “outperform” rating and issued a $24.00 target price on shares of Ardelyx in a research note on Thursday, June 23rd. Finally, Citigroup Inc. cut their target price on Ardelyx from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, August 10th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $20.67.

About Ardelyx

Ardelyx, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of minimally systemic therapeutic drugs that work in the gastrointestinal (GI) tract to treat GI and cardio-renal diseases. The Company operates through research, development and commercialization of biopharmaceutical products segment.

5 Day Chart for NASDAQ:ARDX

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