Eversept Partners LP Has $10 Million Position in Ardelyx, Inc. $ARDX

Eversept Partners LP lifted its position in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 20.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,715,129 shares of the biopharmaceutical company’s stock after purchasing an additional 285,752 shares during the quarter. Eversept Partners LP’s holdings in Ardelyx were worth $9,999,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of ARDX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Ardelyx by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 159,061 shares of the biopharmaceutical company’s stock worth $781,000 after buying an additional 4,436 shares during the period. Goldman Sachs Group Inc. grew its stake in Ardelyx by 10.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,378,738 shares of the biopharmaceutical company’s stock valued at $11,680,000 after purchasing an additional 221,486 shares in the last quarter. Focus Partners Wealth bought a new position in Ardelyx in the first quarter valued at approximately $72,000. Strs Ohio bought a new position in Ardelyx in the first quarter valued at approximately $135,000. Finally, Legal & General Group Plc grew its stake in Ardelyx by 13.5% in the second quarter. Legal & General Group Plc now owns 275,344 shares of the biopharmaceutical company’s stock valued at $1,080,000 after purchasing an additional 32,738 shares in the last quarter. 58.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ardelyx

In other news, insider Mike Kelliher sold 7,248 shares of Ardelyx stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $6.27, for a total value of $45,444.96. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eric Duane Foster sold 7,998 shares of Ardelyx stock in a transaction 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 completion of the transaction, the insider owned 417,972 shares in the company, valued at approximately $2,620,684.44. The trade was a 1.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 24,572 shares of company stock valued at $154,066 over the last ninety days. Insiders own 5.30% of the company’s stock.

Ardelyx Stock Performance

Shares of NASDAQ ARDX opened at $5.84 on Thursday. The company has a market capitalization of $1.44 billion, a P/E ratio of -25.39 and a beta of 0.58. The stock has a 50 day moving average of $6.11 and a 200-day moving average of $6.29. The company has a current ratio of 3.49, a quick ratio of 3.28 and a debt-to-equity ratio of 1.37. Ardelyx, Inc. has a 12 month low of $3.49 and a 12 month high of $8.40.

Ardelyx (NASDAQ:ARDX) last released its quarterly 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). 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 revenue for the quarter was up 27.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.17) earnings per share. As a group, equities research analysts predict that Ardelyx, Inc. will post -0.07 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Leerink Partners restated an “outperform” rating on shares of Ardelyx in a research note on Thursday, March 12th. HC Wainwright raised their price target on Ardelyx from $10.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, February 20th. LADENBURG THALM/SH SH assumed coverage on Ardelyx in a research note on Tuesday. They issued a “buy” rating and a $16.00 price target for the company. BTIG Research restated a “buy” rating and issued a $17.00 price target on shares of Ardelyx in a research note on Friday, February 20th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ardelyx in a research note on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, Ardelyx currently has an average rating of “Moderate Buy” and an average target price of $15.73.

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.