Mike Kelliher Sells 5,560 Shares of Ardelyx (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider Mike Kelliher sold 5,560 shares of Ardelyx stock in a transaction on Friday, November 21st. The shares were sold at an average price of $5.54, for a total value of $30,802.40. Following the sale, the insider directly owned 271,181 shares of the company’s stock, valued at approximately $1,502,342.74. The trade was a 2.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Ardelyx Stock Up 4.0%

ARDX stock traded up $0.22 during trading hours on Tuesday, hitting $5.72. The company’s stock had a trading volume of 2,836,088 shares, compared to its average volume of 4,398,747. The stock has a 50 day moving average price of $5.54 and a two-hundred day moving average price of $4.98. Ardelyx, Inc. has a 12 month low of $3.21 and a 12 month high of $6.78. The company has a market capitalization of $1.39 billion, a PE ratio of -24.87 and a beta of 0.66. The company has a quick ratio of 4.03, a current ratio of 4.30 and a debt-to-equity ratio of 1.44.

Ardelyx (NASDAQ:ARDX) last posted its earnings results on Thursday, October 30th. The biopharmaceutical company reported $0.00 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.06. Ardelyx had a negative return on equity of 36.57% and a negative net margin of 14.60%.The firm had revenue of $110.33 million during the quarter, compared to analyst estimates of $100.44 million. The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. On average, equities research analysts expect that Ardelyx, Inc. will post -0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ARDX. Cowen restated a “buy” rating on shares of Ardelyx in a research note on Friday, October 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Ardelyx in a report on Wednesday, October 8th. Wedbush lowered shares of Ardelyx from an “outperform” rating to a “neutral” rating in a research report on Tuesday. Piper Sandler upped their target price on shares of Ardelyx from $9.00 to $10.00 and gave the company a “neutral” rating in a research note on Tuesday, November 4th. Finally, Wall Street Zen raised shares of Ardelyx from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.73.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. DCF Advisers LLC bought a new stake in shares of Ardelyx during the 2nd quarter valued at $39,000. Brighton Jones LLC acquired a new stake in shares of Ardelyx during the second quarter worth $40,000. Focus Partners Advisor Solutions LLC acquired a new stake in shares of Ardelyx during the first quarter worth $56,000. SBI Securities Co. Ltd. increased its holdings in Ardelyx by 147.0% in the third quarter. SBI Securities Co. Ltd. now owns 10,253 shares of the biopharmaceutical company’s stock valued at $56,000 after purchasing an additional 6,102 shares during the last quarter. Finally, State of Wyoming bought a new stake in Ardelyx in the second quarter valued at about $61,000. Institutional investors own 58.92% of the company’s stock.

About Ardelyx

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.