Ardelyx (NASDAQ:ARDX) Insider Sells $45,444.96 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider Mike Kelliher sold 7,248 shares of the firm’s 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 directly owned 357,418 shares of the company’s stock, valued at approximately $2,241,010.86. The trade was a 1.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Ardelyx Price Performance

Shares of NASDAQ ARDX traded down $0.24 during mid-day trading on Friday, hitting $6.11. 2,314,795 shares of the stock were exchanged, compared to its average volume of 4,388,985. The company has a market cap of $1.51 billion, a P/E ratio of -26.56 and a beta of 0.62. The stock’s fifty day simple moving average is $6.08 and its two-hundred day simple moving average 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 twelve month low of $3.49 and a twelve month high of $8.40.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings data 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). The firm had revenue of $94.47 million for the quarter, compared to analyst estimates of $92.78 million. Ardelyx had a negative return on equity of 38.11% and a negative net margin of 13.58%.The business’s quarterly revenue was up 27.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.17) EPS. As a group, analysts forecast that Ardelyx, Inc. will post -0.05 EPS for the current fiscal year.

Hedge Funds Weigh In On Ardelyx

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in Ardelyx by 3.3% in the fourth quarter. Vanguard Group Inc. now owns 18,979,483 shares of the biopharmaceutical company’s stock valued at $110,650,000 after acquiring an additional 610,162 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Ardelyx by 5.0% in the fourth quarter. Janus Henderson Group PLC now owns 14,514,692 shares of the biopharmaceutical company’s stock valued at $84,583,000 after acquiring an additional 690,599 shares during the last quarter. State Street Corp boosted its stake in 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 acquiring an additional 2,193,649 shares during the last quarter. Geode Capital Management LLC boosted its stake in Ardelyx by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 5,827,618 shares of the biopharmaceutical company’s stock valued at $33,981,000 after acquiring an additional 70,832 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Ardelyx by 88.8% in the second quarter. Bank of America Corp DE now owns 5,527,988 shares of the biopharmaceutical company’s stock valued at $21,670,000 after acquiring an additional 2,600,080 shares during the last quarter. 58.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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