Key Points
- CEO Michael Raab sold 41,666 shares on March 16 at an average price of $5.84 for $243,329, and had previously sold 45,982 shares on Feb 20 at $5.85—about 87,648 shares sold in two trades, reducing his stake by 2.24% to 1,816,448 shares.
- Stock and analyst snapshot: ARDX is trading near $5.55 (down ~4.8%), reported a quarterly EPS miss (−$0.01 vs $0.02) but revenue beat at $125.2M, and carries a MarketBeat consensus of "Moderate Buy" with an average price target of $15.70 and ~59% institutional ownership.
Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) CEO Michael Raab sold 41,666 shares of Ardelyx stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $5.84, for a total transaction of $243,329.44. Following the completion of the transaction, the chief executive officer directly owned 1,816,448 shares in the company, valued at $10,608,056.32. This trade represents a 2.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Michael Raab also recently made the following trade(s):
- On Friday, February 20th, Michael Raab sold 45,982 shares of Ardelyx stock. The shares were sold at an average price of $5.85, for a total transaction of $268,994.70.
Ardelyx Stock Down 4.8%
NASDAQ ARDX opened at $5.55 on Thursday. The business has a fifty day moving average price of $6.87 and a two-hundred day moving average price of $6.15. The stock has a market capitalization of $1.36 billion, a PE ratio of -22.20 and a beta of 0.61. Ardelyx, Inc. has a fifty-two week low of $3.21 and a fifty-two week high of $8.40. The company has a debt-to-equity ratio of 1.21, a current ratio of 4.31 and a quick ratio of 4.11.
Ardelyx (NASDAQ:ARDX - Get Free Report) last issued its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03). Ardelyx had a negative net margin of 15.12% and a negative return on equity of 40.63%. The business had revenue of $125.22 million during the quarter, compared to the consensus estimate of $118.04 million. During the same quarter in the previous year, the business posted $0.02 EPS. The company's revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts expect that Ardelyx, Inc. will post -0.18 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the business. Invesco Ltd. boosted its position in Ardelyx by 23.1% during the 4th quarter. Invesco Ltd. now owns 317,410 shares of the biopharmaceutical company's stock worth $1,851,000 after buying an additional 59,597 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in shares of Ardelyx by 4.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 38,512 shares of the biopharmaceutical company's stock valued at $225,000 after acquiring an additional 1,722 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Ardelyx by 12.8% during the fourth quarter. Mackenzie Financial Corp now owns 199,550 shares of the biopharmaceutical company's stock worth $1,155,000 after purchasing an additional 22,715 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Ardelyx by 1,690.9% during the fourth quarter. NewEdge Advisors LLC now owns 17,909 shares of the biopharmaceutical company's stock worth $104,000 after purchasing an additional 16,909 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of Ardelyx in the fourth quarter worth $698,000. Institutional investors own 58.92% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have commented on the company. Piper Sandler raised Ardelyx from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $10.00 to $16.00 in a research note on Thursday, January 8th. Jefferies Financial Group reaffirmed a "buy" rating and set a $15.00 price target on shares of Ardelyx in a report on Tuesday, January 27th. BTIG Research reissued a "buy" rating and issued a $17.00 price objective on shares of Ardelyx in a research note on Friday, February 20th. Wedbush restated an "outperform" rating and issued a $19.00 target price on shares of Ardelyx in a research report on Monday, February 23rd. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $19.00 target price on shares of Ardelyx in a research note on Thursday, January 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $15.70.
Get Our Latest Report on ARDX
Ardelyx Company Profile
(
Get Free Report)
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.
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