Ardelyx (NASDAQ:ARDX) Insider Sells $35,600.04 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider Laura Williams sold 6,426 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $5.54, for a total transaction of $35,600.04. Following the completion of the transaction, the insider owned 359,896 shares of the company’s stock, valued at approximately $1,993,823.84. The trade was a 1.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Ardelyx Price Performance

Shares of NASDAQ ARDX opened at $5.93 on Friday. The company has a 50 day simple moving average of $5.51 and a two-hundred day simple moving average of $5.01. Ardelyx, Inc. has a fifty-two week low of $3.21 and a fifty-two week high of $6.78. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -25.78 and a beta of 0.66. The company has a debt-to-equity ratio of 1.44, a quick ratio of 4.03 and a current ratio of 4.30.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $0.00 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.06. The company had revenue of $110.33 million for the quarter, compared to the consensus estimate of $100.44 million. Ardelyx had a negative return on equity of 36.57% and a negative net margin of 14.60%.The business’s revenue was up 14.6% compared to the same quarter last year. Analysts expect that Ardelyx, Inc. will post -0.18 EPS for the current fiscal year.

Institutional Trading of Ardelyx

A number of large investors have recently made changes to their positions in ARDX. DCF Advisers LLC bought a new position in Ardelyx during the second quarter valued at approximately $39,000. Brighton Jones LLC purchased a new position in shares of Ardelyx in the 2nd quarter worth $40,000. Focus Partners Advisor Solutions LLC purchased a new position in shares of Ardelyx in the 1st quarter worth $56,000. SBI Securities Co. Ltd. grew its holdings in shares of Ardelyx by 147.0% in the third quarter. SBI Securities Co. Ltd. now owns 10,253 shares of the biopharmaceutical company’s stock worth $56,000 after acquiring an additional 6,102 shares during the period. Finally, State of Wyoming purchased a new stake in Ardelyx during the second quarter valued at $61,000. 58.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ARDX has been the subject of several recent analyst reports. TD Cowen lifted their price target on Ardelyx from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Cowen restated a “buy” rating on shares of Ardelyx in a research note on Friday, October 31st. Raymond James Financial reiterated a “strong-buy” rating on shares of Ardelyx in a research note on Tuesday. Wedbush cut shares of Ardelyx from an “outperform” rating to a “hold” rating in a report on Tuesday. Finally, UBS Group set a $12.00 price target on shares of Ardelyx in a research report on Tuesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $11.73.

Ardelyx Company Profile

Ardelyx, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines to treat gastrointestinal and cardiorenal therapeutic areas in the United States and internationally. The company’s lead product candidate is tenapanor for the treatment of patients with irritable bowel syndrome with constipation.