Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) insider Laura A. Williams sold 6,421 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $4.08, for a total transaction of $26,197.68. Following the transaction, the insider now owns 402,583 shares in the company, valued at $1,642,538.64. This represents a 1.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Ardelyx Stock Performance
ARDX traded down $0.02 during midday trading on Wednesday, reaching $3.96. The company had a trading volume of 1,264,625 shares, compared to its average volume of 4,435,978. Ardelyx, Inc. has a 12-month low of $3.21 and a 12-month high of $8.06. The business has a 50-day moving average price of $4.47 and a two-hundred day moving average price of $5.00. The stock has a market cap of $946.25 million, a PE ratio of -24.72 and a beta of 0.76. The company has a debt-to-equity ratio of 0.87, a quick ratio of 4.31 and a current ratio of 4.58.
Ardelyx (NASDAQ:ARDX - Get Free Report) last released its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.07). Ardelyx had a negative return on equity of 24.87% and a negative net margin of 11.73%. The firm had revenue of $74.11 million during the quarter, compared to analysts' expectations of $79.40 million. During the same period in the prior year, the business earned ($0.11) earnings per share. The business's quarterly revenue was up 61.1% compared to the same quarter last year. On average, sell-side analysts expect that Ardelyx, Inc. will post -0.18 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on ARDX. LADENBURG THALM/SH SH reiterated a "buy" rating and set a $11.00 price objective on shares of Ardelyx in a report on Friday, March 7th. Wall Street Zen downgraded Ardelyx from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Scotiabank began coverage on Ardelyx in a report on Friday, March 7th. They issued a "sector outperform" rating and a $15.00 target price on the stock. BTIG Research began coverage on Ardelyx in a research note on Tuesday, March 4th. They set a "buy" rating and a $14.00 price objective on the stock. Finally, Cantor Fitzgerald raised shares of Ardelyx to a "strong-buy" rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Ardelyx currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.39.
Get Our Latest Research Report on Ardelyx
Institutional Investors Weigh In On Ardelyx
Several institutional investors have recently added to or reduced their stakes in the business. Ensign Peak Advisors Inc raised its position in shares of Ardelyx by 3.1% in the fourth quarter. Ensign Peak Advisors Inc now owns 73,950 shares of the biopharmaceutical company's stock valued at $375,000 after purchasing an additional 2,200 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Ardelyx by 2.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 154,625 shares of the biopharmaceutical company's stock valued at $788,000 after buying an additional 3,550 shares in the last quarter. Swiss National Bank grew its stake in Ardelyx by 1.0% in the 4th quarter. Swiss National Bank now owns 463,100 shares of the biopharmaceutical company's stock valued at $2,348,000 after buying an additional 4,800 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in Ardelyx by 42.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 16,486 shares of the biopharmaceutical company's stock valued at $84,000 after acquiring an additional 4,933 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its position in shares of Ardelyx by 10.9% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 50,222 shares of the biopharmaceutical company's stock worth $255,000 after acquiring an additional 4,942 shares in the last quarter. 58.92% of the stock is owned by hedge funds and other institutional investors.
About Ardelyx
(
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Ardelyx, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines to treat gastrointestinal and cardiorenal therapeutic areas in the United States and internationally. The company's lead product candidate is tenapanor for the treatment of patients with irritable bowel syndrome with constipation.
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