Ardelyx (NASDAQ:ARDX) Insider Mike Kelliher Sells 7,248 Shares

Ardelyx, Inc. (NASDAQ:ARDX) insider Mike Kelliher sold 7,248 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $6.27, for a total transaction of $45,444.96. Following the sale, the insider owned 357,418 shares in the company, valued at approximately $2,241,010.86. This trade represents a 1.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Ardelyx Stock Performance

Ardelyx stock opened at $6.11 on Friday. The firm’s fifty day moving average price is $6.08 and its 200-day moving average price is $6.29. The company has a debt-to-equity ratio of 1.37, a quick ratio of 3.28 and a current ratio of 3.49. The stock has a market cap of $1.51 billion, a P/E ratio of -26.56 and a beta of 0.62. Ardelyx, Inc. has a fifty-two week low of $3.49 and a fifty-two week high of $8.40.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $94.47 million for the quarter, compared to analysts’ expectations of $92.78 million. Ardelyx had a negative net margin of 13.58% and a negative return on equity of 38.11%. The business’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.17) EPS. On average, equities research analysts expect that Ardelyx, Inc. will post -0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ardelyx

Hedge funds have recently modified their holdings of the company. First Horizon Corp increased its position in shares of Ardelyx by 120.4% in the fourth quarter. First Horizon Corp now owns 7,906 shares of the biopharmaceutical company’s stock valued at $46,000 after acquiring an additional 4,319 shares during the period. SBI Securities Co. Ltd. increased its position in shares of Ardelyx by 147.0% in the third quarter. SBI Securities Co. Ltd. now owns 10,253 shares of the biopharmaceutical company’s stock valued at $56,000 after acquiring an additional 6,102 shares during the period. Swiss Life Asset Management Ltd purchased a new position in shares of Ardelyx in the third quarter valued at about $57,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Ardelyx in the fourth quarter valued at about $60,000. Finally, State of Wyoming purchased a new position in shares of Ardelyx in the second quarter valued at about $61,000. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. HC Wainwright lifted their target price on shares of Ardelyx from $10.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, February 20th. TD Cowen reiterated a “buy” rating on shares of Ardelyx in a research report on Thursday, January 29th. Leerink Partners reiterated an “outperform” rating on shares of Ardelyx in a research report on Thursday, March 12th. Jefferies Financial Group reiterated a “buy” rating and issued a $15.00 target price on shares of Ardelyx in a research report on Tuesday, January 27th. Finally, BTIG Research reiterated a “buy” rating and issued a $17.00 target price on shares of Ardelyx in a research report on Friday, February 20th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $15.70.

Ardelyx Company Profile

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.