Ardelyx (NASDAQ:ARDX) Insider Sells $58,424.96 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider James Parker Brady sold 15,136 shares of the company’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 $58,424.96. Following the transaction, the insider directly owned 245,930 shares in the company, valued at approximately $949,289.80. The trade was a 5.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Ardelyx Stock Performance

Shares of ARDX opened at $3.82 on Friday. The company has a current ratio of 3.34, a quick ratio of 3.15 and a debt-to-equity ratio of 1.69. The firm has a market cap of $951.91 million, a PE ratio of -17.36 and a beta of 0.70. Ardelyx, Inc. has a 12 month low of $3.72 and a 12 month high of $8.40. The stock has a fifty day moving average price of $4.89 and a 200-day moving average price of $5.70.

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 return on equity of 36.00% and a negative net margin of 12.35%.The business had revenue of $120.88 million for the quarter, compared to analysts’ expectations of $121.03 million. During the same quarter last year, the firm earned ($0.08) earnings per share. The firm’s quarterly revenue was up 34.3% compared to the same quarter last year. Equities research analysts predict that Ardelyx, Inc. will post -0.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ARDX has been the topic of a number of research analyst reports. LADENBURG THALM/SH SH initiated coverage on Ardelyx in a research note on Tuesday, June 16th. They set a “buy” rating and a $16.00 price target on the stock. Zacks Research lowered shares of Ardelyx from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 22nd. Wedbush reiterated an “outperform” rating and issued a $9.00 target price on shares of Ardelyx in a research note on Tuesday, August 18th. TD Cowen dropped their target price 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. Finally, Piper Sandler dropped their target price on shares of Ardelyx from $16.00 to $15.00 and set an “overweight” rating on the stock in a research report on Monday, August 17th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.90.

Institutional Trading of Ardelyx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARDX. Northwestern Mutual Wealth Management Co. purchased a new stake in Ardelyx during the 2nd quarter valued at about $35,000. SCS Capital Management LLC purchased a new position in shares of Ardelyx in the second quarter worth about $52,000. ADAR1 Capital Management LLC purchased a new position in shares of Ardelyx in the second quarter worth about $56,000. State of Wyoming acquired a new stake in shares of Ardelyx during the second quarter worth about $61,000. Finally, PVG Asset Management Corp acquired a new stake in shares of Ardelyx during the first quarter worth about $65,000. Institutional investors and hedge funds own 58.92% of the company’s stock.

About Ardelyx

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.