Joseph James Reilly Sells 3,982 Shares of Ardelyx (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider Joseph James Reilly sold 3,982 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $3.86, for a total transaction of $15,370.52. Following the completion of the sale, the insider directly owned 145,854 shares of the company’s stock, valued at $562,996.44. This trade represents a 2.66% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Ardelyx Trading Up 1.3%

ARDX opened at $3.83 on Thursday. The firm’s 50 day moving average is $4.93 and its 200-day moving average is $5.72. Ardelyx, Inc. has a 52-week low of $3.72 and a 52-week high of $8.40. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.69. The firm has a market capitalization of $954.40 million, a P/E ratio of -17.41 and a beta of 0.70.

Ardelyx (NASDAQ:ARDX) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.02). Ardelyx had a negative net margin of 12.35% and a negative return on equity of 36.00%. The firm had revenue of $120.88 million during the quarter, compared to analysts’ expectations of $121.03 million. During the same quarter last year, the company posted ($0.08) earnings per share. Ardelyx’s revenue for the quarter was up 34.3% compared to the same quarter last year. Analysts expect that Ardelyx, Inc. will post -0.2 EPS for the current fiscal year.

Trending Headlines about Ardelyx

Here are the key news stories impacting Ardelyx this week:

• Positive Sentiment: Institutional interest provides a supportive signal. BlackRock, Jupiter Topco and AIGH Capital Management reportedly initiated positions, while Bank of America and State Street increased their holdings. Institutions and hedge funds own approximately 58.9% of Ardelyx.
• Positive Sentiment: Analyst sentiment remains broadly favorable, with a consensus rating of “Moderate Buy” and a consensus price target of $13.90. Piper Sandler, HC Wainwright, Citigroup and TD Cowen continue to maintain positive ratings, although several have reduced their targets.
• Neutral Sentiment: Reported short-interest data showed zero shares short and a zero-day days-to-cover ratio, but the report also described the figure as a “large increase.” The internally inconsistent data makes this an unreliable trading signal.
• Negative Sentiment: Eight Ardelyx insiders sold a combined 126,059 shares for approximately $486,588 at an average price of $3.86 on August 21. The transactions included CEO Michael Raab, CFO Susan Hohenleitner and other company insiders; each seller retained a substantial position, but the broad-based selling may weigh on sentiment. Ardelyx insider selling report
• Negative Sentiment: Investors purchased 11,731 put options on Ardelyx, about 328% above the average daily volume of 2,743 contracts. The activity suggests increased hedging or bearish speculation, though it does not necessarily indicate a change in the company’s fundamentals. Ardelyx put options report

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ARDX. LADENBURG THALM/SH SH began coverage on Ardelyx in a research note on Tuesday, June 16th. They set a “buy” rating and a $16.00 target price for the company. Wedbush restated an “outperform” rating and set a $9.00 price objective on shares of Ardelyx in a report on Tuesday, August 18th. Weiss Ratings lowered Ardelyx from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 29th. Piper Sandler reduced their target price on Ardelyx from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Monday, August 17th. Finally, TD Cowen decreased their price target on shares of Ardelyx from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.90.

Hedge Funds Weigh In On Ardelyx

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Ardelyx during the second quarter valued at approximately $119,874,000. Vanguard Group Inc. grew its position in shares of Ardelyx by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 18,979,483 shares of the biopharmaceutical company’s stock worth $110,650,000 after acquiring an additional 610,162 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Ardelyx by 5.0% in the 4th quarter. Janus Henderson Group PLC now owns 14,514,692 shares of the biopharmaceutical company’s stock valued at $84,583,000 after acquiring an additional 690,599 shares during the last quarter. State Street Corp increased its holdings in shares of Ardelyx by 22.6% in the 4th quarter. State Street Corp now owns 11,912,339 shares of the biopharmaceutical company’s stock valued at $69,449,000 after acquiring an additional 2,193,649 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Ardelyx by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 5,827,618 shares of the biopharmaceutical company’s stock valued at $33,981,000 after acquiring an additional 70,832 shares in the last quarter. 58.92% of the stock is currently owned by institutional investors and hedge funds.

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.