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

Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) has received an average recommendation of "Moderate Buy" from the eleven ratings firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, seven have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $11.70.

Several equities research analysts have commented on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Ardelyx in a research report on Saturday, September 27th. Raymond James Financial initiated coverage on shares of Ardelyx in a research report on Wednesday, September 3rd. They set a "strong-buy" rating and a $14.00 target price on the stock. HC Wainwright initiated coverage on Ardelyx in a research note on Wednesday, June 18th. They set a "buy" rating and a $10.00 price target for the company. Piper Sandler lifted their price target on Ardelyx from $8.00 to $9.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Finally, UBS Group set a $12.00 price target on Ardelyx in a research note on Tuesday, August 5th.

Insider Buying and Selling at Ardelyx

In other news, insider Elizabeth A. Grammer sold 5,841 shares of Ardelyx stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $5.93, for a total transaction of $34,637.13. Following the completion of the transaction, the insider owned 305,890 shares of the company's stock, valued at $1,813,927.70. The trade was a 1.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael Raab sold 45,687 shares of Ardelyx stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $5.93, for a total value of $270,923.91. Following the transaction, the chief executive officer directly owned 1,502,250 shares of the company's stock, valued at $8,908,342.50. This trade represents a 2.95% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 165,551 shares of company stock worth $996,917. Insiders own 4.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. DCF Advisers LLC acquired a new position in Ardelyx in the 2nd quarter valued at about $39,000. Brighton Jones LLC acquired a new position in Ardelyx in the 2nd quarter valued at about $40,000. Cyndeo Wealth Partners LLC acquired a new position in Ardelyx in the 1st quarter valued at about $49,000. Focus Partners Advisor Solutions LLC acquired a new position in Ardelyx in the 1st quarter valued at about $56,000. Finally, State of Wyoming acquired a new position in Ardelyx in the 2nd quarter valued at about $61,000. Institutional investors and hedge funds own 58.92% of the company's stock.

Ardelyx Price Performance

Shares of NASDAQ ARDX opened at $5.17 on Wednesday. The firm has a market capitalization of $1.25 billion, a P/E ratio of -22.48 and a beta of 0.67. Ardelyx has a one year low of $3.21 and a one year high of $6.78. The company's fifty day moving average is $5.84 and its two-hundred day moving average is $4.81. The company has a debt-to-equity ratio of 1.44, a quick ratio of 4.03 and a current ratio of 4.30.

Ardelyx (NASDAQ:ARDX - Get Free Report) last issued its earnings results on Monday, August 4th. The biopharmaceutical company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.13) by $0.05. The company had revenue of $97.66 million for the quarter, compared to analyst estimates of $82.69 million. Ardelyx had a negative net margin of 14.60% and a negative return on equity of 36.57%. The business's revenue was up 23.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.07) EPS. Analysts forecast that Ardelyx will post -0.18 EPS for the current fiscal year.

About Ardelyx

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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