Mackenzie Financial Corp Has $188,000 Holdings in Ardelyx, Inc. (NASDAQ:ARDX)

Mackenzie Financial Corp increased its holdings in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 5.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,269 shares of the biopharmaceutical company’s stock after acquiring an additional 1,608 shares during the quarter. Mackenzie Financial Corp’s holdings in Ardelyx were worth $188,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of ARDX. GSA Capital Partners LLP increased its holdings in shares of Ardelyx by 1,183.6% during the third quarter. GSA Capital Partners LLP now owns 549,695 shares of the biopharmaceutical company’s stock worth $2,243,000 after purchasing an additional 506,872 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in shares of Ardelyx during the 3rd quarter worth approximately $320,000. Charles Schwab Investment Management Inc. boosted its position in shares of Ardelyx by 185.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,666,267 shares of the biopharmaceutical company’s stock worth $6,798,000 after acquiring an additional 1,082,554 shares in the last quarter. Vanguard Group Inc. increased its stake in Ardelyx by 0.9% in the third quarter. Vanguard Group Inc. now owns 11,565,800 shares of the biopharmaceutical company’s stock valued at $47,188,000 after acquiring an additional 97,951 shares during the last quarter. Finally, TD Asset Management Inc raised its position in Ardelyx by 100.0% during the third quarter. TD Asset Management Inc now owns 273,600 shares of the biopharmaceutical company’s stock valued at $1,116,000 after purchasing an additional 136,800 shares in the last quarter. Institutional investors and hedge funds own 58.92% of the company’s stock.

Insider Buying and Selling at Ardelyx

In related news, insider Robert Blanks sold 5,017 shares of Ardelyx stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $8.75, for a total value of $43,898.75. Following the transaction, the insider now directly owns 368,186 shares of the company’s stock, valued at $3,221,627.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Michael Raab sold 7,500 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $7.06, for a total transaction of $52,950.00. Following the completion of the sale, the chief executive officer now directly owns 1,310,933 shares in the company, valued at $9,255,186.98. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Robert Blanks sold 5,017 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $8.75, for a total transaction of $43,898.75. Following the completion of the transaction, the insider now owns 368,186 shares in the company, valued at approximately $3,221,627.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 148,820 shares of company stock worth $1,208,524. Insiders own 5.50% of the company’s stock.

Ardelyx Price Performance

Shares of NASDAQ:ARDX opened at $6.46 on Tuesday. The company has a market cap of $1.50 billion, a price-to-earnings ratio of -21.53 and a beta of 0.86. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.88 and a quick ratio of 4.64. The firm has a 50 day simple moving average of $7.80 and a 200 day simple moving average of $6.73. Ardelyx, Inc. has a one year low of $3.16 and a one year high of $10.13.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). The business had revenue of $34.36 million for the quarter, compared to analyst estimates of $34.26 million. Ardelyx had a negative return on equity of 43.57% and a negative net margin of 53.08%. Ardelyx’s revenue for the quarter was down 22.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 EPS. Research analysts predict that Ardelyx, Inc. will post -0.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ARDX has been the topic of several recent analyst reports. Citigroup lifted their price target on Ardelyx from $9.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. SVB Leerink started coverage on Ardelyx in a research report on Friday, April 5th. They issued an “outperform” rating and a $14.00 target price on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Ardelyx in a report on Friday, January 12th. Piper Sandler lifted their price target on shares of Ardelyx from $12.00 to $15.00 and gave the company an “overweight” rating in a report on Friday, February 23rd. Finally, Wedbush increased their price objective on shares of Ardelyx from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Ardelyx currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.69.

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.