Ardelyx (NASDAQ:ARDX) Insider Laura Williams Sells 50,000 Shares

Ardelyx, Inc. (NASDAQ:ARDXGet Free Report) insider Laura Williams sold 50,000 shares of the business’s stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $6.98, for a total value of $349,000.00. Following the sale, the insider owned 361,563 shares of the company’s stock, valued at approximately $2,523,709.74. The trade was a 12.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Ardelyx Stock Performance

Shares of NASDAQ:ARDX opened at $7.74 on Friday. The company has a current ratio of 4.41, a quick ratio of 4.11 and a debt-to-equity ratio of 1.31. Ardelyx, Inc. has a 1-year low of $3.21 and a 1-year high of $8.05. The stock has a market capitalization of $1.88 billion, a P/E ratio of -33.65 and a beta of 0.56. The business has a 50-day moving average price of $5.89 and a two-hundred day moving average price of $5.48.

Ardelyx (NASDAQ:ARDXGet Free Report) last issued its earnings results on Thursday, October 30th. The biopharmaceutical company reported $0.00 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.06. The company had revenue of $110.33 million for the quarter, compared to analyst estimates of $100.44 million. Ardelyx had a negative net margin of 14.20% and a negative return on equity of 36.91%. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. Equities analysts predict that Ardelyx, Inc. will post -0.18 earnings per share for the current year.

Hedge Funds Weigh In On Ardelyx

Several institutional investors have recently modified their holdings of the business. DCF Advisers LLC acquired a new stake in shares of Ardelyx in the second quarter valued at about $39,000. Brighton Jones LLC acquired a new position in shares of Ardelyx during the 2nd quarter worth approximately $40,000. SBI Securities Co. Ltd. increased its position in shares of Ardelyx by 147.0% during the 3rd quarter. SBI Securities Co. Ltd. now owns 10,253 shares of the biopharmaceutical company’s stock worth $56,000 after purchasing an additional 6,102 shares during the last quarter. Swiss Life Asset Management Ltd bought a new stake in shares of Ardelyx during the 3rd quarter worth approximately $57,000. Finally, State of Wyoming acquired a new stake in shares of Ardelyx in the 2nd quarter valued at approximately $61,000. Institutional investors own 58.92% of the company’s stock.

Trending Headlines about Ardelyx

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Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. TD Cowen raised their price target on Ardelyx from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Raymond James Financial restated a “strong-buy” rating and set a $19.00 target price on shares of Ardelyx in a report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Ardelyx in a research report on Wednesday, October 8th. Piper Sandler upgraded shares of Ardelyx from a “neutral” rating to an “overweight” rating and increased their price target for the company from $10.00 to $16.00 in a research report on Thursday. Finally, Cowen reissued a “buy” rating on shares of Ardelyx in a research note on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.80.

View Our Latest Stock Analysis on ARDX

About Ardelyx

(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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Insider Buying and Selling by Quarter for Ardelyx (NASDAQ:ARDX)

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