Ardelyx, Inc. (NASDAQ:ARDX) Receives $13.90 Average PT from Brokerages

Shares of Ardelyx, Inc. (NASDAQ:ARDX) have earned an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, nine have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $13.90.

ARDX has been the topic of several research analyst reports. Wedbush restated an “outperform” rating and set a $9.00 target price on shares of Ardelyx in a research note on Tuesday, August 18th. TD Cowen lowered their price objective on shares of Ardelyx from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Friday, August 7th. Weiss Ratings cut shares of Ardelyx from a “sell (d-)” rating to a “sell (e+)” rating in a report on Monday, June 29th. BTIG Research cut their target price on shares of Ardelyx from $17.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, August 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $13.00 price objective on shares of Ardelyx in a research report on Friday, August 7th.

Insider Buying and Selling

In related news, insider Laura A. Williams sold 10,739 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $3.86, for a total value of $41,452.54. Following the transaction, the insider directly owned 367,456 shares of the company’s stock, valued at approximately $1,418,380.16. This trade represents a 2.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Raab sold 58,574 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $3.86, for a total value of $226,095.64. Following the completion of the transaction, the chief executive officer directly owned 1,619,792 shares in the company, valued at $6,252,397.12. This trade represents a 3.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 126,059 shares of company stock worth $486,588 in the last quarter. Company insiders own 5.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. purchased a new stake in Ardelyx in the 2nd quarter worth $35,000. SCS Capital Management LLC bought a new stake in Ardelyx in the second quarter worth $52,000. ADAR1 Capital Management LLC bought a new stake in Ardelyx in the second quarter worth $56,000. Krilogy Financial LLC purchased a new stake in shares of Ardelyx during the 1st quarter valued at about $70,000. Finally, PVG Asset Management Corp purchased a new stake in Ardelyx during the first quarter valued at approximately $65,000. 58.92% of the stock is owned by hedge funds and other institutional investors.

Ardelyx Stock Down 0.8%

ARDX stock opened at $3.78 on Friday. Ardelyx has a 1-year low of $3.68 and a 1-year high of $8.40. The business has a fifty day moving average price of $4.79 and a 200-day moving average price of $5.65. The company has a debt-to-equity ratio of 1.69, a current ratio of 3.34 and a quick ratio of 3.15. The stock has a market capitalization of $941.94 million, a P/E ratio of -17.18 and a beta of 0.70.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $120.88 million for the quarter, compared to the consensus estimate of $121.03 million. During the same period in the previous year, the company earned ($0.08) earnings per share. The company’s revenue for the quarter was up 34.3% compared to the same quarter last year. Equities analysts forecast that Ardelyx will post -0.2 earnings per share for the current fiscal year.

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.