Brokerages Set Ardelyx, Inc. (NASDAQ:ARDX) PT at $10.95

Ardelyx, Inc. (NASDAQ:ARDX) has been given a consensus recommendation of “Buy” by the twelve analysts that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $10.95.

ARDX has been the subject of several research analyst reports. Raymond James reaffirmed a “strong-buy” rating and issued a $13.00 price target (down from $15.00) on shares of Ardelyx in a research note on Friday, February 21st. Piper Sandler upgraded Ardelyx to a “hold” rating in a report on Wednesday, March 12th. BTIG Research initiated coverage on Ardelyx in a report on Tuesday, March 4th. They set a “buy” rating and a $14.00 price objective for the company. HC Wainwright reaffirmed a “neutral” rating and set a $5.50 target price on shares of Ardelyx in a research report on Friday, February 21st. Finally, Cantor Fitzgerald raised shares of Ardelyx to a “strong-buy” rating in a research note on Tuesday, March 4th.

Insider Buying and Selling at Ardelyx

In other news, Director David M. Mott purchased 199,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were purchased at an average price of $4.99 per share, with a total value of $993,010.00. Following the completion of the acquisition, the director now owns 1,937,765 shares in the company, valued at $9,669,447.35. This trade represents a 11.44 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Laura A. Williams sold 4,941 shares of Ardelyx stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $5.62, for a total value of $27,768.42. Following the sale, the insider now directly owns 303,804 shares of the company’s stock, valued at $1,707,378.48. This represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 158,076 shares of company stock valued at $853,804 in the last quarter. 5.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Ardelyx

Several institutional investors and hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC increased its position in shares of Ardelyx by 13.3% in the fourth quarter. Janus Henderson Group PLC now owns 24,387,941 shares of the biopharmaceutical company’s stock worth $123,587,000 after purchasing an additional 2,858,061 shares during the last quarter. Two Seas Capital LP purchased a new position in Ardelyx in the 4th quarter worth approximately $9,407,000. Rock Springs Capital Management LP bought a new position in shares of Ardelyx in the 4th quarter worth $7,421,000. D. E. Shaw & Co. Inc. raised its position in shares of Ardelyx by 9,499.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,468,668 shares of the biopharmaceutical company’s stock valued at $7,446,000 after buying an additional 1,453,369 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Ardelyx during the 4th quarter worth $6,762,000. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Ardelyx Stock Down 4.1 %

Shares of NASDAQ ARDX opened at $4.93 on Friday. The company’s 50 day moving average price is $5.40 and its 200-day moving average price is $5.52. The company has a debt-to-equity ratio of 0.87, a quick ratio of 4.31 and a current ratio of 4.58. Ardelyx has a 52-week low of $4.32 and a 52-week high of $9.33. The company has a market capitalization of $1.18 billion, a P/E ratio of -30.81 and a beta of 0.87.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 EPS for the quarter, meeting analysts’ consensus estimates of $0.02. The business had revenue of $116.13 million for the quarter, compared to analysts’ expectations of $111.16 million. Ardelyx had a negative net margin of 11.73% and a negative return on equity of 24.87%. Equities analysts forecast that Ardelyx will post -0.18 earnings per share for the current year.

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.