Ardelyx, Inc. (NASDAQ:ARDX) Given Consensus Rating of “Moderate Buy” by Analysts

Ardelyx, Inc. (NASDAQ:ARDX) has been given an average recommendation of “Moderate Buy” by the ten analysts that are covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $10.39.

Several equities research analysts have commented on the company. HC Wainwright reiterated a “neutral” rating and set a $5.50 price objective on shares of Ardelyx in a research note on Friday, February 21st. Cantor Fitzgerald upgraded Ardelyx to a “strong-buy” rating in a research report on Tuesday, March 4th. Piper Sandler upgraded Ardelyx to a “hold” rating in a research report on Wednesday, March 12th. LADENBURG THALM/SH SH reaffirmed a “buy” rating and set a $11.00 target price on shares of Ardelyx in a report on Friday, March 7th. Finally, Citigroup dropped their target price on shares of Ardelyx from $11.00 to $10.00 and set a “buy” rating for the company in a report on Friday, May 2nd.

Insider Activity

In other news, insider Laura A. Williams sold 6,421 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $4.08, for a total transaction of $26,197.68. Following the completion of the transaction, the insider now directly owns 402,583 shares in the company, valued at approximately $1,642,538.64. This represents a 1.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mike Kelliher sold 14,522 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $4.08, for a total value of $59,249.76. Following the transaction, the insider now owns 282,158 shares of the company’s stock, valued at approximately $1,151,204.64. This represents a 4.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders bought 681,377 shares of company stock valued at $2,676,411 and sold 166,809 shares valued at $708,914. Corporate insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. GF Fund Management CO. LTD. purchased a new position in Ardelyx during the fourth quarter worth about $25,000. Newbridge Financial Services Group Inc. purchased a new position in shares of Ardelyx during the 4th quarter worth approximately $35,000. SBI Securities Co. Ltd. purchased a new position in shares of Ardelyx during the 4th quarter worth approximately $41,000. Cyndeo Wealth Partners LLC purchased a new position in shares of Ardelyx during the first quarter worth $49,000. Finally, Quarry LP purchased a new position in shares of Ardelyx during the fourth quarter worth $51,000. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Ardelyx Price Performance

Shares of NASDAQ ARDX opened at $3.70 on Thursday. The firm has a market cap of $885.24 million, a PE ratio of -23.13 and a beta of 0.59. The firm has a fifty day moving average of $4.21 and a 200 day moving average of $4.92. 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 one year low of $3.21 and a one year high of $8.06.

Ardelyx (NASDAQ:ARDX) last released its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.07). The company had revenue of $74.11 million for the quarter, compared to analysts’ expectations of $79.40 million. Ardelyx had a negative return on equity of 24.87% and a negative net margin of 11.73%. The firm’s revenue for the quarter was up 61.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.11) EPS. As a group, research analysts predict that Ardelyx will post -0.18 EPS for the current fiscal 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.