Ardelyx, Inc. (NASDAQ:ARDX) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts are cautiously bullish on Ardelyx, with eleven brokerages giving it an average rating of “Moderate Buy.” The consensus 12-month price target is about $15.73.
• The company’s latest quarterly results showed revenue growth of 27.5% year over year to $94.47 million, but earnings missed expectations with EPS of -$0.15 versus the -$0.13 estimate.
• Recent trading activity included insider selling, with two executives selling shares in May, while institutional investors still hold 58.92% of Ardelyx’s stock.

Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) has received an average recommendation of "Moderate Buy" from the eleven brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, nine have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $15.7273.

A number of equities analysts have issued reports on the company. Weiss Ratings cut Ardelyx from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday, June 29th. Leerink Partners restated an "outperform" rating on shares of Ardelyx in a report on Thursday, March 12th. Williams Trading set a $17.00 price objective on shares of Ardelyx in a report on Thursday, March 12th. Finally, LADENBURG THALM/SH SH began coverage on shares of Ardelyx in a research report on Tuesday, June 16th. They set a "buy" rating and a $16.00 target price on the stock.

Insider Buying and Selling at Ardelyx

In other news, insider Eric Duane Foster sold 7,998 shares of the firm's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $6.27, for a total transaction of $50,147.46. Following the completion of the transaction, the insider owned 417,972 shares of the company's stock, valued at approximately $2,620,684.44. This trade represents a 1.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mike Kelliher sold 7,248 shares of the business's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $6.27, for a total transaction of $45,444.96. Following the completion of the sale, the insider directly owned 357,418 shares in the company, valued at approximately $2,241,010.86. This represents a 1.99% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 24,572 shares of company stock valued at $154,066 in the last ninety days. Insiders own 5.30% of the company's stock.

Institutional Investors Weigh In On Ardelyx

A number of institutional investors have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV increased its stake in shares of Ardelyx by 4.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 38,512 shares of the biopharmaceutical company's stock valued at $225,000 after buying an additional 1,722 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Ardelyx by 26.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,807 shares of the biopharmaceutical company's stock worth $69,000 after acquiring an additional 2,491 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Ardelyx by 0.7% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 347,609 shares of the biopharmaceutical company's stock valued at $2,027,000 after acquiring an additional 2,532 shares during the last quarter. Cerity Partners LLC boosted its holdings in Ardelyx by 5.3% in the fourth quarter. Cerity Partners LLC now owns 59,359 shares of the biopharmaceutical company's stock valued at $346,000 after acquiring an additional 2,972 shares during the last quarter. Finally, Integrated Wealth Concepts LLC increased its position in Ardelyx by 24.2% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 15,263 shares of the biopharmaceutical company's stock valued at $84,000 after purchasing an additional 2,975 shares during the period. Institutional investors own 58.92% of the company's stock.

Ardelyx Stock Performance

NASDAQ ARDX opened at $5.38 on Friday. The firm's fifty day moving average price is $5.95 and its two-hundred day moving average price is $6.26. The stock has a market cap of $1.33 billion, a PE ratio of -23.39 and a beta of 0.61. The company has a debt-to-equity ratio of 1.37, a quick ratio of 3.28 and a current ratio of 3.49. Ardelyx has a fifty-two week low of $4.07 and a fifty-two week high of $8.40.

Ardelyx (NASDAQ:ARDX - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.02). Ardelyx had a negative net margin of 13.58% and a negative return on equity of 38.11%. The firm had revenue of $94.47 million during the quarter, compared to the consensus estimate of $92.78 million. During the same quarter in the previous year, the company posted ($0.17) earnings per share. The firm's revenue was up 27.5% on a year-over-year basis. On average, equities analysts expect that Ardelyx will post -0.07 EPS for the current fiscal year.

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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