Ardelyx (NASDAQ:ARDX) Releases Earnings Results

Ardelyx (NASDAQ:ARDX) released its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03), FiscalAI reports. Ardelyx had a negative return on equity of 36.91% and a negative net margin of 14.20%.The business had revenue of $125.22 million during the quarter, compared to the consensus estimate of $118.04 million.

Ardelyx Stock Up 0.3%

ARDX traded up $0.02 during trading on Thursday, hitting $6.74. The stock had a trading volume of 6,629,930 shares, compared to its average volume of 5,353,546. The stock has a 50 day simple moving average of $6.76 and a two-hundred day simple moving average of $6.09. The company has a debt-to-equity ratio of 1.31, a quick ratio of 4.11 and a current ratio of 4.41. Ardelyx has a twelve month low of $3.21 and a twelve month high of $8.40. The company has a market capitalization of $1.64 billion, a PE ratio of -29.30 and a beta of 0.57.

Insiders Place Their Bets

In other Ardelyx news, insider Mike Kelliher sold 5,560 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $5.54, for a total value of $30,802.40. Following the completion of the sale, the insider directly owned 271,181 shares in the company, valued at approximately $1,502,342.74. This trade represents a 2.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Laura A. Williams sold 50,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $2,523,709.74. The trade was a 12.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 114,868 shares of company stock worth $708,369 over the last quarter. Company insiders own 4.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC grew its position in Ardelyx by 5.0% during the 4th quarter. Janus Henderson Group PLC now owns 14,514,692 shares of the biopharmaceutical company’s stock worth $84,583,000 after purchasing an additional 690,599 shares during the period. State Street Corp lifted its holdings in Ardelyx by 22.6% in the fourth 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 period. Geode Capital Management LLC lifted its stake in shares of Ardelyx by 1.2% in 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 purchasing an additional 70,832 shares during the period. Bank of America Corp DE increased its holdings in Ardelyx by 88.8% in the second quarter. Bank of America Corp DE now owns 5,527,988 shares of the biopharmaceutical company’s stock valued at $21,670,000 after buying an additional 2,600,080 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Ardelyx by 18.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,064,746 shares of the biopharmaceutical company’s stock valued at $17,867,000 after acquiring an additional 479,869 shares during the period. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ARDX shares. BTIG Research restated a “buy” rating and set a $17.00 target price on shares of Ardelyx in a research report on Thursday, January 29th. Wedbush upped their target price on shares of Ardelyx from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 21st. TD Cowen restated a “buy” rating on shares of Ardelyx in a report on Thursday, January 29th. Raymond James Financial restated a “strong-buy” rating and issued a $19.00 target price on shares of Ardelyx in a report on Thursday, January 8th. Finally, Piper Sandler upgraded Ardelyx from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $10.00 to $16.00 in a research report on Thursday, January 8th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $14.36.

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.