Ardelyx (NASDAQ:ARDX) Insider Sells $35,600.04 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider Laura Williams sold 6,426 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $5.54, for a total value of $35,600.04. Following the completion of the sale, the insider owned 359,896 shares of the company’s stock, valued at approximately $1,993,823.84. This trade represents a 1.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Ardelyx Stock Up 4.0%

Shares of ARDX traded up $0.22 during mid-day trading on Tuesday, hitting $5.72. 2,836,088 shares of the company traded hands, compared to its average volume of 4,398,747. Ardelyx, Inc. has a 1-year low of $3.21 and a 1-year high of $6.78. The company has a quick ratio of 4.03, a current ratio of 4.30 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $1.39 billion, a PE ratio of -24.87 and a beta of 0.66. The business has a 50 day moving average of $5.54 and a 200 day moving average of $4.98.

Ardelyx (NASDAQ:ARDX) last released its earnings results on Thursday, October 30th. The biopharmaceutical company reported $0.00 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.06. Ardelyx had a negative net margin of 14.60% and a negative return on equity of 36.57%. The company had revenue of $110.33 million during the quarter, compared to analysts’ expectations of $100.44 million. Ardelyx’s revenue for the quarter was up 14.6% compared to the same quarter last year. Equities research analysts anticipate that Ardelyx, Inc. will post -0.18 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ARDX. DCF Advisers LLC purchased a new stake in Ardelyx in the 2nd quarter worth approximately $39,000. Brighton Jones LLC acquired a new position in shares of Ardelyx in the 2nd quarter valued at $40,000. SBI Securities Co. Ltd. boosted its holdings in Ardelyx by 147.0% during the third quarter. SBI Securities Co. Ltd. now owns 10,253 shares of the biopharmaceutical company’s stock worth $56,000 after buying an additional 6,102 shares in the last quarter. R Squared Ltd purchased a new stake in Ardelyx during the third quarter worth $62,000. Finally, Focus Partners Advisor Solutions LLC acquired a new stake in Ardelyx during the first quarter valued at $56,000. 58.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ARDX has been the topic of several research reports. Wall Street Zen raised Ardelyx from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Ardelyx in a report on Wednesday, October 8th. TD Cowen lifted their target price on Ardelyx from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Cowen reiterated a “buy” rating on shares of Ardelyx in a research report on Friday, October 31st. Finally, Piper Sandler raised their price target on shares of Ardelyx from $9.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.73.

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.