Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) insider Laura A. Williams sold 39,949 shares of the firm's stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $8.35, for a total value of $333,574.15. Following the completion of the transaction, the insider now owns 370,189 shares of the company's stock, valued at $3,091,078.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Ardelyx Trading Up 1.7 %
Shares of NASDAQ:ARDX opened at $9.31 on Wednesday. The company has a market capitalization of $2.18 billion, a P/E ratio of -33.25 and a beta of 0.87. Ardelyx, Inc. has a 1 year low of $3.16 and a 1 year high of $10.13. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.53 and a quick ratio of 4.36. The business's 50 day simple moving average is $7.66 and its 200 day simple moving average is $6.91.
Ardelyx (NASDAQ:ARDX - Get Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02. Ardelyx had a negative net margin of 41.36% and a negative return on equity of 41.65%. The business had revenue of $46.00 million during the quarter, compared to analysts' expectations of $36.40 million. During the same quarter in the prior year, the business posted ($0.13) earnings per share. Ardelyx's revenue was up 303.5% compared to the same quarter last year. On average, research analysts anticipate that Ardelyx, Inc. will post -0.44 EPS for the current fiscal year.
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A number of research analysts recently weighed in on ARDX shares. 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. SVB Leerink began coverage on shares of Ardelyx in a research note on Friday, April 5th. They set an "outperform" rating and a $14.00 target price for the company. Cantor Fitzgerald reiterated an "overweight" rating on shares of Ardelyx in a research note on Friday, January 12th. Wedbush raised their price objective on shares of Ardelyx from $14.00 to $15.00 and gave the stock an "outperform" rating in a research report on Friday, May 3rd. Finally, Piper Sandler boosted their price objective on Ardelyx from $12.00 to $15.00 and gave the stock an "overweight" rating in a report on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $12.81.
View Our Latest Analysis on Ardelyx
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Swiss National Bank boosted its stake in Ardelyx by 6.7% in the first quarter. Swiss National Bank now owns 458,300 shares of the biopharmaceutical company's stock valued at $3,346,000 after buying an additional 28,900 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Ardelyx by 347.4% in the 1st quarter. Principal Financial Group Inc. now owns 122,811 shares of the biopharmaceutical company's stock valued at $897,000 after purchasing an additional 95,361 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Ardelyx by 66.7% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 44,754 shares of the biopharmaceutical company's stock valued at $327,000 after purchasing an additional 17,903 shares during the last quarter. HighMark Wealth Management LLC acquired a new position in Ardelyx during the 1st quarter worth approximately $36,000. Finally, Newbridge Financial Services Group Inc. bought a new position in Ardelyx in the 1st quarter valued at approximately $64,000. 58.92% of the stock is owned by institutional investors.
About Ardelyx
(
Get Free Report)
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.
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