James Parker Brady Sells 1,846 Shares of Ardelyx (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider James Parker Brady sold 1,846 shares of Ardelyx stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $6.27, for a total transaction of $11,574.42. Following the sale, the insider owned 261,066 shares in the company, valued at $1,636,883.82. This represents a 0.70% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ardelyx Stock Down 3.8%

ARDX opened at $6.11 on Friday. Ardelyx, Inc. has a fifty-two week low of $3.49 and a fifty-two week high of $8.40. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.49 and a quick ratio of 3.28. The firm’s fifty day moving average price is $6.08 and its two-hundred day moving average price is $6.29. The company has a market capitalization of $1.51 billion, a P/E ratio of -26.56 and a beta of 0.62.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). Ardelyx had a negative return on equity of 38.11% and a negative net margin of 13.58%.The business had revenue of $94.47 million for the quarter, compared to analyst estimates of $92.78 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. The firm’s quarterly revenue was up 27.5% on a year-over-year basis. On average, analysts anticipate that Ardelyx, Inc. will post -0.05 EPS for the current year.

Institutional Investors Weigh In On Ardelyx

Several institutional investors and hedge funds have recently made changes to their positions in ARDX. Bank of America Corp DE boosted its stake in shares of Ardelyx by 88.8% in the 2nd quarter. Bank of America Corp DE now owns 5,527,988 shares of the biopharmaceutical company’s stock valued at $21,670,000 after purchasing an additional 2,600,080 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Ardelyx by 14.6% in the third quarter. Vanguard Group Inc. now owns 18,369,321 shares of the biopharmaceutical company’s stock valued at $101,215,000 after buying an additional 2,337,672 shares during the last quarter. State Street Corp raised its holdings in shares of Ardelyx by 22.6% in the fourth quarter. State Street Corp now owns 11,912,339 shares of the biopharmaceutical company’s stock valued at $69,449,000 after buying an additional 2,193,649 shares during the last quarter. Rubric Capital Management LP bought a new position in shares of Ardelyx in the first quarter valued at about $11,147,000. Finally, J. Goldman & Co LP raised its holdings in shares of Ardelyx by 1,034.8% in the fourth quarter. J. Goldman & Co LP now owns 1,622,736 shares of the biopharmaceutical company’s stock valued at $9,461,000 after buying an additional 1,479,736 shares during the last quarter. Institutional investors and hedge funds own 58.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. BTIG Research restated a “buy” rating and issued a $17.00 target price on shares of Ardelyx in a research note on Friday, February 20th. Leerink Partners restated an “outperform” rating on shares of Ardelyx in a research note on Thursday, March 12th. Jefferies Financial Group restated a “buy” rating and issued a $15.00 target price on shares of Ardelyx in a research note on Tuesday, January 27th. Wedbush restated an “outperform” rating and issued a $19.00 target price on shares of Ardelyx in a research note on Monday, February 23rd. Finally, TD Cowen restated a “buy” rating on shares of Ardelyx in a research note on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $15.70.

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.