Ardelyx, Inc. $ARDX Shares Bought by UBS Group AG

UBS Group AG raised its position in Ardelyx, Inc. (NASDAQ:ARDX) by 25.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 578,344 shares of the biopharmaceutical company’s stock after acquiring an additional 117,024 shares during the period. UBS Group AG’s holdings in Ardelyx were worth $3,372,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ARDX. Bank of America Corp DE boosted its holdings in 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 during the last quarter. Vanguard Group Inc. boosted its holdings in Ardelyx by 14.6% in the 3rd quarter. Vanguard Group Inc. now owns 18,369,321 shares of the biopharmaceutical company’s stock valued at $101,215,000 after purchasing an additional 2,337,672 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Ardelyx by 1,987.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 865,258 shares of the biopharmaceutical company’s stock valued at $4,768,000 after purchasing an additional 823,810 shares during the last quarter. AQR Capital Management LLC boosted its holdings in Ardelyx by 47.0% in the 2nd quarter. AQR Capital Management LLC now owns 2,312,363 shares of the biopharmaceutical company’s stock valued at $9,064,000 after purchasing an additional 739,300 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Ardelyx in the 3rd quarter valued at about $3,190,000. 58.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Leerink Partners reiterated an “outperform” rating on shares of Ardelyx in a report on Thursday, March 12th. Jefferies Financial Group reiterated a “buy” rating and issued a $15.00 target price on shares of Ardelyx in a report on Tuesday, January 27th. Williams Trading set a $17.00 target price on shares of Ardelyx in a report on Thursday, March 12th. Wedbush reiterated an “outperform” rating and issued a $19.00 target price on shares of Ardelyx in a report on Monday, February 23rd. Finally, TD Cowen restated a “buy” rating on shares of Ardelyx in a report on Thursday, January 29th. One 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. According to data from MarketBeat, Ardelyx currently has an average rating of “Moderate Buy” and a consensus price target of $15.70.

Insider Transactions at Ardelyx

In other news, insider Eric Duane Foster sold 7,998 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $6.27, for a total value of $50,147.46. Following the transaction, the insider directly owned 417,972 shares in the company, valued at approximately $2,620,684.44. This represents a 1.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Mike Kelliher sold 7,248 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $6.27, for a total transaction of $45,444.96. Following the sale, the insider owned 357,418 shares in the company, valued at approximately $2,241,010.86. This trade represents a 1.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 66,238 shares of company stock worth $397,396. 5.30% of the stock is currently owned by insiders.

Ardelyx Stock Performance

Shares of ARDX stock opened at $6.11 on Monday. The firm’s 50 day moving average price is $6.08 and its 200-day moving average price is $6.29. The company has a debt-to-equity ratio of 1.37, a quick ratio of 3.28 and a current ratio of 3.49. Ardelyx, Inc. has a one year low of $3.49 and a one year high of $8.40. The firm has a market cap of $1.51 billion, a P/E ratio of -26.56 and a beta of 0.62.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported ($0.15) EPS for the quarter, missing the consensus estimate 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 company had revenue of $94.47 million during the quarter, compared to analyst estimates of $92.78 million. During the same quarter in the prior year, the company posted ($0.17) earnings per share. The business’s revenue was up 27.5% compared to the same quarter last year. As a group, equities research analysts predict that Ardelyx, Inc. will post -0.05 EPS for the current year.

Ardelyx 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.