Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report)'s stock price gapped up prior to trading on Tuesday following insider buying activity. The stock had previously closed at $3.74, but opened at $3.89. Ardelyx shares last traded at $3.91, with a volume of 1,390,705 shares.
Specifically, Director David M. Mott bought 381,377 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were acquired at an average cost of $4.22 per share, for a total transaction of $1,609,410.94. Following the transaction, the director now owns 2,396,871 shares in the company, valued at approximately $10,114,795.62. The trade was a 18.92 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.
Analyst Ratings Changes
A number of equities research analysts have weighed in on ARDX shares. Piper Sandler raised Ardelyx to a "hold" rating in a report on Wednesday, March 12th. Citigroup lowered their price target on Ardelyx from $11.00 to $10.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Raymond James cut Ardelyx from a "strong-buy" rating to an "outperform" rating and set a $11.00 price objective for the company. in a report on Friday, May 2nd. LADENBURG THALM/SH SH restated a "buy" rating and issued a $11.00 target price on shares of Ardelyx in a research note on Friday, March 7th. Finally, HC Wainwright reiterated a "neutral" rating and set a $5.50 target price on shares of Ardelyx in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $10.39.
Check Out Our Latest Analysis on ARDX
Ardelyx Price Performance
The company has a quick ratio of 4.31, a current ratio of 4.58 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $866.10 million, a price-to-earnings ratio of -22.63 and a beta of 0.76. The stock's 50-day moving average price is $4.85 and its 200-day moving average price is $5.18.
Ardelyx (NASDAQ:ARDX - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($0.17) EPS for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.07). The firm had revenue of $74.11 million during the quarter, compared to the consensus estimate of $79.40 million. Ardelyx had a negative net margin of 11.73% and a negative return on equity of 24.87%. The firm's quarterly revenue was up 61.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.11) earnings per share. Equities research analysts anticipate that Ardelyx, Inc. will post -0.18 earnings per share for the current year.
Institutional Trading of Ardelyx
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARDX. Headlands Technologies LLC grew its position in shares of Ardelyx by 836.5% during the 1st quarter. Headlands Technologies LLC now owns 22,063 shares of the biopharmaceutical company's stock worth $108,000 after buying an additional 19,707 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Ardelyx by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,067,528 shares of the biopharmaceutical company's stock valued at $10,152,000 after acquiring an additional 32,393 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Ardelyx by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 14,997,234 shares of the biopharmaceutical company's stock valued at $73,636,000 after acquiring an additional 634,575 shares during the last quarter. Blair William & Co. IL lifted its stake in shares of Ardelyx by 67.6% in the 1st quarter. Blair William & Co. IL now owns 24,785 shares of the biopharmaceutical company's stock valued at $122,000 after purchasing an additional 10,000 shares during the period. Finally, Mackenzie Financial Corp boosted its position in shares of Ardelyx by 6.4% in the 1st quarter. Mackenzie Financial Corp now owns 149,158 shares of the biopharmaceutical company's stock worth $732,000 after purchasing an additional 9,025 shares during the last quarter. 58.92% of the stock is currently owned by institutional investors and hedge funds.
Ardelyx Company Profile
(
Get Free Report)
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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