Ardelyx (NASDAQ:ARDX) Insider Joseph James Reilly Sells 3,719 Shares

Ardelyx, Inc. (NASDAQ:ARDX) insider Joseph James Reilly sold 3,719 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $6.27, for a total transaction of $23,318.13. Following the completion of the transaction, the insider owned 149,107 shares in the company, valued at approximately $934,900.89. This trade represents a 2.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Ardelyx Stock Performance

Shares of NASDAQ ARDX traded down $0.24 during midday trading on Friday, reaching $6.11. 2,314,795 shares of the stock were exchanged, compared to its average volume of 4,388,985. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -26.56 and a beta of 0.62. Ardelyx, Inc. has a twelve month low of $3.49 and a twelve month high of $8.40. The firm has a 50-day simple moving average of $6.08 and a two-hundred day simple moving average of $6.29. The company has a quick ratio of 3.28, a current ratio of 3.49 and a debt-to-equity ratio of 1.37.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The firm had revenue of $94.47 million for the quarter, compared to analyst estimates of $92.78 million. Ardelyx had a negative return on equity of 38.11% and a negative net margin of 13.58%.Ardelyx’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.17) EPS. As a group, analysts anticipate that Ardelyx, Inc. will post -0.05 EPS for the current fiscal year.

Institutional Investors Weigh In On Ardelyx

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Ardelyx by 14.6% in the 3rd quarter. Vanguard Group Inc. now owns 18,369,321 shares of the biopharmaceutical company’s stock valued at $101,215,000 after acquiring an additional 2,337,672 shares during the period. Y Intercept Hong Kong Ltd grew its stake in Ardelyx by 488.0% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 306,547 shares of the biopharmaceutical company’s stock valued at $1,689,000 after acquiring an additional 254,417 shares during the period. AIGH Capital Management LLC grew its stake in Ardelyx by 479.3% in the 4th quarter. AIGH Capital Management LLC now owns 1,150,000 shares of the biopharmaceutical company’s stock valued at $6,704,000 after acquiring an additional 951,500 shares during the period. SG Americas Securities LLC grew its stake in Ardelyx by 514.6% in the 3rd quarter. SG Americas Securities LLC now owns 131,925 shares of the biopharmaceutical company’s stock valued at $727,000 after acquiring an additional 110,459 shares during the period. Finally, Tudor Investment Corp ET AL acquired a new stake in Ardelyx in the 3rd quarter valued at $688,000. Institutional investors and hedge funds own 58.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. TD Cowen reaffirmed a “buy” rating on shares of Ardelyx in a research note on Thursday, January 29th. Leerink Partners reaffirmed an “outperform” rating on shares of Ardelyx in a research note on Thursday, March 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ardelyx in a research note on Monday, April 20th. Wedbush reaffirmed an “outperform” rating and set a $19.00 price objective on shares of Ardelyx in a research note on Monday, February 23rd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $15.00 price objective on shares of Ardelyx in a research note on Tuesday, January 27th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $15.70.

About Ardelyx

Ardelyx, Inc (NASDAQ: ARDX) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing targeted small molecule drugs for cardio‐renal and gastrointestinal diseases. The company’s lead marketed product, tenapanor (sold under the brand name XPHOZAH in the United States), is approved for the treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis. Ardelyx’s proprietary approach targets epithelial transporters in the gastrointestinal tract, offering localized activity with limited systemic exposure.

Beyond tenapanor, Ardelyx’s development pipeline includes treatments designed to address other complications in kidney disease and related metabolic disorders.