Ardelyx (NASDAQ:ARDX) Insider John Bishop Sells 2,306 Shares

Ardelyx, Inc. (NASDAQ:ARDX) insider John Bishop sold 2,306 shares of Ardelyx stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $6.27, for a total transaction of $14,458.62. Following the sale, the insider owned 336,845 shares in the company, valued at approximately $2,112,018.15. This trade represents a 0.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Ardelyx Price Performance

Shares of Ardelyx stock opened at $6.11 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 3.28 and a current ratio of 3.49. The firm’s 50-day simple moving average is $6.08 and its 200-day simple moving average is $6.29. Ardelyx, Inc. has a twelve month low of $3.49 and a twelve month 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 earnings results on Thursday, April 30th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). Ardelyx had a negative net margin of 13.58% and a negative return on equity of 38.11%. The business had revenue of $94.47 million for the quarter, compared to analyst estimates of $92.78 million. During the same quarter last year, the firm posted ($0.17) earnings per share. Ardelyx’s revenue was up 27.5% on a year-over-year basis. As a group, research analysts expect that Ardelyx, Inc. will post -0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Ardelyx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARDX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Ardelyx by 2.9% in the first 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. raised its stake in shares of 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 acquiring an additional 221,486 shares during the last quarter. Focus Partners Wealth bought a new position in shares of Ardelyx in the first quarter worth about $72,000. Strs Ohio bought a new position in shares of Ardelyx in the first quarter worth about $135,000. Finally, Legal & General Group Plc raised its stake in shares of 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 acquiring an additional 32,738 shares during the last quarter. 58.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wedbush reiterated an “outperform” rating and set a $19.00 target price on shares of Ardelyx in a research report on Monday, February 23rd. TD Cowen restated a “buy” rating on shares of Ardelyx in a research report on Thursday, January 29th. Williams Trading set a $17.00 price target on shares of Ardelyx in a research report on Thursday, March 12th. 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. Finally, Leerink Partners restated an “outperform” rating on shares of Ardelyx in a research report on Thursday, March 12th. One equities research 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 company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.