John Bishop Sells 3,179 Shares of Ardelyx (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider John Bishop sold 3,179 shares of the business’s stock in a transaction on Friday, February 20th. The stock was sold at an average price of $5.85, for a total transaction of $18,597.15. Following the transaction, the insider directly owned 339,151 shares in the company, valued at approximately $1,984,033.35. The trade was a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Ardelyx Stock Up 0.3%

Shares of ARDX stock traded up $0.02 on Monday, hitting $5.75. The stock had a trading volume of 7,054,837 shares, compared to its average volume of 3,578,790. The stock’s 50 day moving average is $6.76 and its 200-day moving average is $6.13. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -23.00 and a beta of 0.57. Ardelyx, Inc. has a 52-week low of $3.21 and a 52-week high of $8.40. The company has a debt-to-equity ratio of 1.21, a quick ratio of 4.11 and a current ratio of 4.31.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Ardelyx had a negative return on equity of 40.63% and a negative net margin of 15.12%.The firm had revenue of $125.22 million during the quarter, compared to analyst estimates of $118.04 million. During the same quarter in the prior year, the firm earned $0.02 EPS. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, research analysts expect that Ardelyx, Inc. will post -0.18 earnings per share for the current year.

Hedge Funds Weigh In On Ardelyx

Hedge funds and other institutional investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Ardelyx by 2.9% during 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 acquiring an additional 4,436 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Ardelyx by 10.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,378,738 shares of the biopharmaceutical company’s stock worth $11,680,000 after purchasing an additional 221,486 shares in the last quarter. Focus Partners Wealth bought a new position in Ardelyx during the first quarter worth about $72,000. Strs Ohio acquired a new stake in Ardelyx during the first quarter valued at approximately $135,000. Finally, Brighton Jones LLC bought a new stake in shares of Ardelyx in the 2nd quarter valued at approximately $40,000. 58.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ARDX has been the subject of several research analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $15.00 price target on shares of Ardelyx in a research report on Tuesday, January 27th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ardelyx in a research note on Wednesday, January 21st. Raymond James Financial reiterated a “strong-buy” rating and issued a $19.00 target price on shares of Ardelyx in a research note on Thursday, January 8th. TD Cowen reaffirmed a “buy” rating on shares of Ardelyx in a report on Thursday, January 29th. Finally, BTIG Research reaffirmed a “buy” rating and set a $17.00 price objective on shares of Ardelyx in a research report on Friday. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $15.09.

Ardelyx Company Profile

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.