Los Angeles Capital Management LLC Has $294,000 Stake in Ardelyx, Inc. (NASDAQ:ARDX)
Los Angeles Capital Management LLC raised its position in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 8.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,404 shares of the biopharmaceutical company’s stock after acquiring an additional 3,610 shares during the period. Los Angeles Capital Management LLC owned approximately 0.05% of Ardelyx worth $294,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of ARDX. ProShare Advisors LLC lifted its position in shares of Ardelyx by 30.0% during the 4th quarter. ProShare Advisors LLC now owns 30,328 shares of the biopharmaceutical company’s stock worth $196,000 after purchasing an additional 7,005 shares during the last quarter. Candriam Luxembourg S.C.A. increased its position in Ardelyx by 115.2% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 1,372,217 shares of the biopharmaceutical company’s stock worth $8,879,000 after acquiring an additional 734,574 shares during the period. Russell Investments Group Ltd. acquired a new stake in Ardelyx in the 4th quarter worth $673,000. Engineers Gate Manager LP bought a new position in Ardelyx during the fourth quarter valued at about $134,000. Finally, Virtu Financial LLC acquired a new stake in Ardelyx during the fourth quarter worth $179,000. 85.92% of the stock is currently owned by institutional investors.
ARDX has been the subject of a number of research reports. Wedbush assumed coverage on Ardelyx in a research note on Monday, March 29th. They issued an “outperform” rating and a $14.00 target price for the company. Zacks Investment Research raised shares of Ardelyx from a “sell” rating to a “hold” rating in a research note on Wednesday, March 10th. Finally, Cantor Fitzgerald assumed coverage on shares of Ardelyx in a report on Tuesday, January 5th. They set an “overweight” rating and a $14.00 target price for the company. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $12.44.
Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings data on Sunday, March 7th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.06). Ardelyx had a negative net margin of 1,063.74% and a negative return on equity of 53.93%. The business had revenue of $1.81 million during the quarter, compared to analyst estimates of $1.87 million. On average, analysts forecast that Ardelyx, Inc. will post -1 earnings per share for the current year.
In related news, insider David P. Rosenbaum sold 5,000 shares of the company’s stock in a transaction on Tuesday, April 6th. The shares were sold at an average price of $8.00, for a total value of $40,000.00. Following the completion of the transaction, the insider now directly owns 160,047 shares of the company’s stock, valued at approximately $1,280,376. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 3.96% of the company’s stock.
Ardelyx, Inc, a biopharmaceutical company, develops and sells medicines for the treatment of cardiorenal diseases in the United States and internationally. The company's lead product candidate is tenapanor, which has completed Phase 3 clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase 3 clinical trial for the treatment of hyperphosphatemia in end-stage renal disease patients on dialysis.
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