30,000 Shares in Ardelyx, Inc. (NASDAQ:ARDX) Bought by Cookson Peirce & Co. Inc.

Cookson Peirce & Co. Inc. bought a new position in shares of Ardelyx, Inc. (NASDAQ:ARDX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 30,000 shares of the biopharmaceutical company’s stock, valued at approximately $186,000.

Several other large investors have also bought and sold shares of the stock. Bank of New York Mellon Corp grew its stake in shares of Ardelyx by 81.1% in the 1st quarter. Bank of New York Mellon Corp now owns 549,816 shares of the biopharmaceutical company’s stock valued at $588,000 after buying an additional 246,147 shares during the period. BlackRock Inc. grew its stake in shares of Ardelyx by 1.3% in the 1st quarter. BlackRock Inc. now owns 5,700,576 shares of the biopharmaceutical company’s stock valued at $6,100,000 after buying an additional 71,592 shares during the period. State Street Corp grew its stake in shares of Ardelyx by 7.0% in the 1st quarter. State Street Corp now owns 2,127,557 shares of the biopharmaceutical company’s stock valued at $2,276,000 after buying an additional 139,484 shares during the period. Mirabella Financial Services LLP acquired a new stake in shares of Ardelyx in the 1st quarter valued at about $51,000. Finally, Worth Venture Partners LLC grew its stake in shares of Ardelyx by 39.4% in the 1st quarter. Worth Venture Partners LLC now owns 768,036 shares of the biopharmaceutical company’s stock valued at $822,000 after buying an additional 217,061 shares during the period. 58.92% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Robert Blanks sold 5,017 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $8.75, for a total value of $43,898.75. Following the transaction, the insider now owns 368,186 shares of the company’s stock, valued at $3,221,627.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Robert Blanks sold 5,017 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $8.75, for a total value of $43,898.75. Following the transaction, the insider now owns 368,186 shares of the company’s stock, valued at $3,221,627.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Raab sold 22,917 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $8.75, for a total value of $200,523.75. Following the completion of the transaction, the chief executive officer now directly owns 1,319,951 shares in the company, valued at approximately $11,549,571.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 148,820 shares of company stock worth $1,208,524. Corporate insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Wedbush raised their target price on Ardelyx from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday. StockNews.com downgraded Ardelyx from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Ardelyx in a research note on Friday, January 12th. Citigroup increased their target price on Ardelyx from $9.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Finally, Piper Sandler increased their target price on Ardelyx from $12.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Ardelyx currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.69.

Ardelyx Trading Down 2.4 %

Shares of ARDX stock opened at $6.55 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 4.64 and a current ratio of 4.88. Ardelyx, Inc. has a 52-week low of $3.16 and a 52-week high of $10.13. The company has a market capitalization of $1.52 billion, a PE ratio of -21.83 and a beta of 0.85. The business’s fifty day moving average is $8.25 and its 200 day moving average is $6.57.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). Ardelyx had a negative return on equity of 43.57% and a negative net margin of 53.08%. The business had revenue of $34.36 million during the quarter, compared to analysts’ expectations of $34.26 million. During the same quarter last year, the business posted $0.06 EPS. The company’s quarterly revenue was down 22.2% on a year-over-year basis. On average, equities research analysts anticipate that Ardelyx, Inc. will post -0.44 EPS for the current fiscal year.

Ardelyx Company Profile

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.