Ardelyx, Inc. (NASDAQ:ARDX) Given Consensus Recommendation of "Moderate Buy" by Analysts

Key Points

• Analysts assign Ardelyx a “Moderate Buy” consensus: nine analysts recommend buying the stock, one gives a strong-buy rating, and two recommend selling. The average 12-month price target is $15.73, well above its $4.98 opening price.
• Ardelyx shares have traded between $4.24 and $8.40 over the past year, with a market capitalization of approximately $1.23 billion. The company’s lead product, XPHOZAH, is approved to treat hyperphosphatemia in dialysis patients with chronic kidney disease.
• Institutional investors own 58.92% of Ardelyx, with several major funds increasing their positions. Meanwhile, insiders sold 24,572 shares worth about $154,066 over the past three months.

Shares of Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twelve analysts that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, nine have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $15.7273.

ARDX has been the subject of several research reports. LADENBURG THALM/SH SH assumed coverage on Ardelyx in a research report on Tuesday, June 16th. They issued a "buy" rating and a $16.00 target price for the company. Weiss Ratings lowered Ardelyx from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, June 29th. Finally, Zacks Research cut Ardelyx from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 22nd.

Ardelyx Stock Performance

Shares of ARDX opened at $4.98 on Tuesday. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.49 and a quick ratio of 3.28. Ardelyx has a one year low of $4.24 and a one year high of $8.40. The company has a 50-day simple moving average of $5.49 and a two-hundred day simple moving average of $6.13. The firm has a market capitalization of $1.23 billion, a PE ratio of -21.65 and a beta of 0.70.

Insider Buying and Selling at Ardelyx

In related news, insider Eric Duane Foster sold 7,998 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $6.27, for a total value of $50,147.46. Following the completion of the transaction, the insider directly owned 417,972 shares in the company, valued at $2,620,684.44. This trade represents a 1.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mike Kelliher sold 7,248 shares of Ardelyx stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $6.27, for a total transaction of $45,444.96. Following the transaction, the insider directly owned 357,418 shares of the company's stock, valued at approximately $2,241,010.86. This trade represents a 1.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 24,572 shares of company stock valued at $154,066 in the last three months. Insiders own 5.30% of the company's stock.

Institutional Investors Weigh In On Ardelyx

A number of hedge funds and other institutional investors have recently bought and sold shares of ARDX. Bank of America Corp DE boosted its position in shares of Ardelyx by 88.8% in the 2nd quarter. Bank of America Corp DE now owns 5,527,988 shares of the biopharmaceutical company's stock worth $21,670,000 after purchasing an additional 2,600,080 shares in the last quarter. State Street Corp increased its position in Ardelyx by 22.6% during the 4th quarter. State Street Corp now owns 11,912,339 shares of the biopharmaceutical company's stock valued at $69,449,000 after buying an additional 2,193,649 shares in the last quarter. Rubric Capital Management LP bought a new position in Ardelyx during the 1st quarter valued at approximately $11,147,000. J. Goldman & Co LP raised its stake in Ardelyx by 1,034.8% during the fourth quarter. J. Goldman & Co LP now owns 1,622,736 shares of the biopharmaceutical company's stock valued at $9,461,000 after buying an additional 1,479,736 shares during the last quarter. Finally, AIGH Capital Management LLC boosted its holdings in Ardelyx by 479.3% in the fourth quarter. AIGH Capital Management LLC now owns 1,150,000 shares of the biopharmaceutical company's stock worth $6,704,000 after acquiring an additional 951,500 shares in the last quarter. Hedge funds and other institutional investors 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.

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