Wedbush Increases Ardelyx (NASDAQ:ARDX) Price Target to $15.00

Ardelyx (NASDAQ:ARDX) had its price objective boosted by Wedbush from $14.00 to $15.00 in a report issued on Friday morning, Benzinga reports. Wedbush currently has an outperform rating on the biopharmaceutical company’s stock. Wedbush also issued estimates for Ardelyx’s Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.13 EPS, Q4 2025 earnings at $0.17 EPS, FY2025 earnings at $0.37 EPS, FY2026 earnings at $1.01 EPS, FY2027 earnings at $1.44 EPS and FY2028 earnings at $1.87 EPS.

ARDX has been the subject of several other research reports. Piper Sandler raised their price objective on shares of Ardelyx from $12.00 to $15.00 and gave the company an overweight rating in a research note on Friday, February 23rd. Raymond James boosted their target price on Ardelyx from $12.00 to $15.00 and gave the stock a strong-buy rating in a report on Tuesday, January 9th. Leerink Partnrs restated an outperform rating on shares of Ardelyx in a research note on Friday, April 5th. StockNews.com downgraded Ardelyx from a hold rating to a sell rating in a report on Monday, February 26th. Finally, Citigroup raised their price objective on shares of Ardelyx from $9.00 to $14.00 and gave the stock a buy rating in a report on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Ardelyx currently has an average rating of Moderate Buy and an average target price of $12.81.

Ardelyx Stock Up 4.9 %

Shares of Ardelyx stock opened at $9.15 on Friday. The company has a quick ratio of 4.36, a current ratio of 4.53 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average of $7.67 and a 200 day moving average of $6.87. The company has a market capitalization of $2.14 billion, a P/E ratio of -32.68 and a beta of 0.87. Ardelyx has a 52-week low of $3.16 and a 52-week high of $10.13.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. Ardelyx had a negative return on equity of 41.65% and a negative net margin of 41.36%. The business had revenue of $46.00 million during the quarter, compared to the consensus estimate of $36.40 million. During the same period in the prior year, the company earned ($0.13) earnings per share. The company’s revenue was up 303.5% compared to the same quarter last year. As a group, research analysts forecast that Ardelyx will post -0.44 EPS for the current fiscal year.

Insider Activity at Ardelyx

In related news, insider David P. Rosenbaum sold 15,344 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $9.18, for a total transaction of $140,857.92. Following the transaction, the insider now owns 384,002 shares of the company’s stock, valued at $3,525,138.36. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Justin A. Renz sold 5,341 shares of the stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $8.75, for a total transaction of $46,733.75. Following the transaction, the chief financial officer now owns 304,835 shares of the company’s stock, valued at approximately $2,667,306.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider David P. Rosenbaum sold 15,344 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $9.18, for a total value of $140,857.92. Following the completion of the transaction, the insider now directly owns 384,002 shares in the company, valued at $3,525,138.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,820 shares of company stock valued at $1,400,524. 5.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ardelyx

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

About Ardelyx

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.