Ardelyx (NASDAQ:ARDX) Insider Sells $15,370.52 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider Joseph James Reilly sold 3,982 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $3.86, for a total value of $15,370.52. Following the sale, the insider directly owned 145,854 shares of the company’s stock, valued at $562,996.44. The trade was a 2.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Ardelyx Trading Down 0.3%

NASDAQ:ARDX opened at $3.82 on Friday. The company’s 50 day moving average is $4.89 and its 200-day moving average is $5.70. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.69. Ardelyx, Inc. has a 12 month low of $3.72 and a 12 month high of $8.40. The firm has a market cap of $951.91 million, a price-to-earnings ratio of -17.36 and a beta of 0.70.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.02). The firm had revenue of $120.88 million for the quarter, compared to the consensus estimate of $121.03 million. Ardelyx had a negative return on equity of 36.00% and a negative net margin of 12.35%.Ardelyx’s quarterly revenue was up 34.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.08) earnings per share. Equities analysts anticipate that Ardelyx, Inc. will post -0.2 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on ARDX shares. LADENBURG THALM/SH SH started coverage on Ardelyx in a research note on Tuesday, June 16th. They issued a “buy” rating and a $16.00 price objective on the stock. Zacks Research downgraded Ardelyx from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 22nd. HC Wainwright reaffirmed a “buy” rating and issued a $13.00 target price on shares of Ardelyx in a report on Friday, August 7th. BTIG Research dropped their price target on Ardelyx from $17.00 to $14.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Finally, Piper Sandler cut their price target on Ardelyx from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $13.90.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Ardelyx by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 159,061 shares of the biopharmaceutical company’s stock valued at $781,000 after buying an additional 4,436 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Ardelyx by 10.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,378,738 shares of the biopharmaceutical company’s stock valued at $11,680,000 after acquiring an additional 221,486 shares in the last quarter. Focus Partners Wealth bought a new stake in Ardelyx in the first quarter valued at about $72,000. Strs Ohio acquired a new position in Ardelyx in the first quarter worth about $135,000. Finally, Legal & General Group Plc raised its position in Ardelyx by 13.5% in the second quarter. Legal & General Group Plc now owns 275,344 shares of the biopharmaceutical company’s stock worth $1,080,000 after purchasing an additional 32,738 shares in the last quarter. 58.92% of the stock is currently owned by institutional investors and hedge funds.

About Ardelyx

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.