Ardelyx, Inc. (NASDAQ:ARDX) Stock Position Lifted by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. grew its position in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 59.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 91,302 shares of the biopharmaceutical company’s stock after buying an additional 33,877 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Ardelyx were worth $566,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ARDX. Bank of New York Mellon Corp lifted its holdings in shares of Ardelyx by 81.1% in the 1st quarter. Bank of New York Mellon Corp now owns 549,816 shares of the biopharmaceutical company’s stock worth $588,000 after purchasing an additional 246,147 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Ardelyx by 1.3% in the 1st quarter. BlackRock Inc. now owns 5,700,576 shares of the biopharmaceutical company’s stock worth $6,100,000 after purchasing an additional 71,592 shares during the last quarter. State Street Corp lifted its holdings in shares of Ardelyx by 7.0% in the 1st quarter. State Street Corp now owns 2,127,557 shares of the biopharmaceutical company’s stock worth $2,276,000 after purchasing an additional 139,484 shares during the last quarter. Mirabella Financial Services LLP bought a new stake in shares of Ardelyx in the 1st quarter worth approximately $51,000. Finally, Worth Venture Partners LLC lifted its holdings in shares of Ardelyx by 39.4% in the 1st quarter. Worth Venture Partners LLC now owns 768,036 shares of the biopharmaceutical company’s stock worth $822,000 after purchasing an additional 217,061 shares during the last quarter. Institutional investors own 58.92% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael Raab sold 7,500 shares of Ardelyx stock in a transaction on Monday, April 15th. The stock was sold at an average price of $7.06, for a total value of $52,950.00. Following the transaction, the chief executive officer now directly owns 1,310,933 shares in the company, valued at approximately $9,255,186.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Michael Raab sold 7,500 shares of Ardelyx stock in a transaction on Monday, April 15th. The stock was sold at an average price of $7.06, for a total value of $52,950.00. Following the transaction, the chief executive officer now directly owns 1,310,933 shares in the company, valued at approximately $9,255,186.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Robert Blanks sold 5,017 shares of Ardelyx stock in a transaction 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 completion of the transaction, the insider now owns 368,186 shares in the company, valued at $3,221,627.50. The disclosure for this sale can be found here. Insiders have sold 148,820 shares of company stock worth $1,208,524 in the last three months. 5.50% of the stock is currently owned by insiders.

Ardelyx Stock Down 1.7 %

Shares of ARDX stock opened at $6.44 on Friday. Ardelyx, Inc. has a 1 year low of $3.16 and a 1 year high of $10.13. The stock has a market cap of $1.50 billion, a PE ratio of -21.47 and a beta of 0.85. The business’s fifty day moving average is $8.20 and its 200-day moving average is $6.57. The company has a debt-to-equity ratio of 0.30, a quick ratio of 4.64 and a current ratio of 4.88.

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

Analyst Ratings Changes

ARDX has been the topic of several analyst reports. Raymond James raised their target price on Ardelyx from $12.00 to $15.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 9th. Citigroup raised their target price on Ardelyx from $9.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Wedbush raised their target price on Ardelyx from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Wednesday. Leerink Partnrs restated an “outperform” rating on shares of Ardelyx in a research report on Friday, April 5th. Finally, Piper Sandler raised their target price on Ardelyx from $12.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.69.

Ardelyx 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.