Ardelyx (NASDAQ:ARDX) Stock Crosses Below Two Hundred Day Moving Average – Here’s Why

Ardelyx, Inc. (NASDAQ:ARDX)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.16 and traded as low as $6.08. Ardelyx shares last traded at $6.22, with a volume of 2,721,446 shares traded.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ardelyx in a report on Wednesday, January 21st. Jefferies Financial Group reaffirmed a “buy” rating and set a $15.00 price objective on shares of Ardelyx in a research note on Tuesday, January 27th. BTIG Research reaffirmed a “buy” rating and set a $17.00 price objective on shares of Ardelyx in a research report on Friday, February 20th. Citigroup boosted their target price on Ardelyx from $11.00 to $14.00 and gave the company a “buy” rating in a report on Friday, January 9th. Finally, Piper Sandler upgraded Ardelyx from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $10.00 to $16.00 in a research note on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $15.09.

Ardelyx Price Performance

The company has a debt-to-equity ratio of 1.21, a quick ratio of 4.11 and a current ratio of 4.31. The company has a 50-day simple moving average of $6.85 and a 200-day simple moving average of $6.16. The company has a market cap of $1.53 billion, a price-to-earnings ratio of -24.88 and a beta of 0.61.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). Ardelyx had a negative net margin of 15.12% and a negative return on equity of 40.63%. The business had revenue of $125.22 million during the quarter, compared to analyst estimates of $118.04 million. During the same period in the prior year, the business earned $0.02 earnings per share. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, research analysts predict that Ardelyx, Inc. will post -0.18 earnings per share for the current year.

Insider Activity at Ardelyx

In related news, insider Mike Kelliher sold 9,595 shares of the firm’s stock in a transaction dated Friday, February 20th. The shares were sold at an average price of $5.85, for a total value of $56,130.75. Following the completion of the sale, the insider owned 364,666 shares in the company, valued at $2,133,296.10. This trade represents a 2.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Duane Foster sold 10,439 shares of the company’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $5.85, for a total transaction of $61,068.15. Following the transaction, the insider owned 425,970 shares in the company, valued at $2,491,924.50. The trade was a 2.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 136,938 shares of company stock worth $857,587. 4.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ardelyx

Several institutional investors have recently modified their holdings of ARDX. Mercer Global Advisors Inc. ADV grew its holdings in shares of Ardelyx by 4.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 38,512 shares of the biopharmaceutical company’s stock worth $225,000 after acquiring an additional 1,722 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in Ardelyx by 26.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,807 shares of the biopharmaceutical company’s stock worth $69,000 after purchasing an additional 2,491 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in Ardelyx by 0.7% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 347,609 shares of the biopharmaceutical company’s stock worth $2,027,000 after purchasing an additional 2,532 shares in the last quarter. Merit Financial Group LLC grew its holdings in Ardelyx by 12.0% in the third quarter. Merit Financial Group LLC now owns 23,680 shares of the biopharmaceutical company’s stock valued at $130,000 after purchasing an additional 2,537 shares during the last quarter. Finally, Brighton Jones LLC increased its position in shares of Ardelyx by 25.1% in the third quarter. Brighton Jones LLC now owns 12,701 shares of the biopharmaceutical company’s stock valued at $70,000 after buying an additional 2,550 shares in the last quarter. Hedge funds and other institutional investors own 58.92% of the company’s stock.

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.