Key Points
- Ardelyx insider Mike Kelliher sold 7,248 shares on May 21 at an average price of $6.27, totaling about $45,445. After the sale, he still held 357,418 shares, a 1.99% reduction in his position.
- ARDX shares were down 3.8% and opened at $6.11, with the stock trading near its 50-day and 200-day moving averages. The company’s market cap was about $1.51 billion, and shares have traded between $3.49 and $8.40 over the past year.
- Recent earnings were mixed: Ardelyx reported a smaller-than-expected loss of $0.15 per share, while revenue of $94.47 million beat estimates and rose 27.5% year over year. Analysts currently rate the stock a Moderate Buy with an average target price of $15.70.
Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) insider James Parker Brady sold 1,846 shares of the company's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $6.27, for a total value of $11,574.42. Following the completion of the transaction, the insider directly owned 261,066 shares in the company, valued at approximately $1,636,883.82. This trade represents a 0.70% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Ardelyx Stock Performance
Shares of Ardelyx stock opened at $6.11 on Friday. Ardelyx, Inc. has a 52 week low of $3.49 and a 52 week high of $8.40. The business's fifty day simple moving average is $6.08 and its 200-day simple moving average is $6.29. The firm has a market cap of $1.51 billion, a PE ratio of -26.56 and a beta of 0.62. 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 - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). Ardelyx had a negative net margin of 13.58% and a negative return on equity of 38.11%. The business had revenue of $94.47 million during the quarter, compared to analyst estimates of $92.78 million. During the same period last year, the company earned ($0.17) EPS. The business's revenue for the quarter was up 27.5% on a year-over-year basis. Equities analysts forecast that Ardelyx, Inc. will post -0.05 earnings per share for the current year.
Institutional Investors Weigh In On Ardelyx
Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE raised its holdings in shares of Ardelyx by 5.8% in the 1st quarter. Bank of America Corp DE now owns 2,336,994 shares of the biopharmaceutical company's stock valued at $13,999,000 after buying an additional 128,301 shares during the period. ADAR1 Capital Management LLC purchased a new stake in Ardelyx during the 1st quarter worth about $143,000. Amundi purchased a new stake in Ardelyx during the 1st quarter worth about $86,000. California State Teachers Retirement System increased its holdings in Ardelyx by 39.3% during the 1st quarter. California State Teachers Retirement System now owns 303,137 shares of the biopharmaceutical company's stock worth $1,816,000 after purchasing an additional 85,475 shares during the period. Finally, Redmile Group LLC purchased a new stake in Ardelyx during the 1st quarter worth about $4,393,000. Hedge funds and other institutional investors own 58.92% of the company's stock.
Analysts Set New Price Targets
Several equities analysts have recently commented on ARDX shares. Williams Trading set a $17.00 price target on Ardelyx in a research note on Thursday, March 12th. Wedbush reaffirmed an "outperform" rating and issued a $19.00 price target on shares of Ardelyx in a research note on Monday, February 23rd. HC Wainwright boosted their price objective on Ardelyx from $10.00 to $18.00 and gave the company a "buy" rating in a report on Friday, February 20th. Leerink Partners reiterated an "outperform" rating on shares of Ardelyx in a report on Thursday, March 12th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $15.00 price objective on shares of Ardelyx in a report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $15.70.
View 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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
