Bank of America Corp DE Makes New Investment in Ardelyx, Inc. $ARDX

Key Points

• Bank of America initiated a stake in Ardelyx, purchasing 2.16 million shares worth approximately $11.0 million, or about 0.87% of the company. Institutional investors collectively own 58.92% of Ardelyx.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and a $13.90 target price, despite several firms recently lowering their targets. Ardelyx’s latest quarterly revenue rose 34.3% year over year to $120.88 million, but its adjusted loss per share missed expectations.
• Legal risks have increased as multiple law firms announced a securities class action alleging Ardelyx misled investors about commercial performance and patient access for IBSRELA and XPHOZAH. The lead-plaintiff deadline is November 16, 2026.

Bank of America Corp DE purchased a new stake in shares of Ardelyx, Inc. (NASDAQ:ARDX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,163,500 shares of the biopharmaceutical company's stock, valued at approximately $11,034,000. Bank of America Corp DE owned about 0.87% of Ardelyx at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ARDX. BlackRock Inc. acquired a new position in shares of Ardelyx during the 2nd quarter worth approximately $119,874,000. Jupiter Topco LLC bought a new position in shares of Ardelyx in the second quarter worth $27,043,000. AIGH Capital Management LLC bought a new stake in Ardelyx during the second quarter worth about $16,320,000. Eversept Partners LP grew its stake in Ardelyx by 30.0% during the first quarter. Eversept Partners LP now owns 2,229,446 shares of the biopharmaceutical company's stock worth $13,354,000 after buying an additional 514,317 shares in the last quarter. Finally, Rubric Capital Management LP acquired a new stake in Ardelyx during the first quarter worth about $11,147,000. Institutional investors and hedge funds own 58.92% of the company's stock.

Insider Activity at Ardelyx

In other Ardelyx news, CEO Michael Raab sold 58,574 shares of Ardelyx stock in a transaction on Friday, August 21st. The shares were sold at an average price of $3.86, for a total value of $226,095.64. Following the completion of the sale, the chief executive officer directly owned 1,619,792 shares of the company's stock, valued at approximately $6,252,397.12. The trade was a 3.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eric Foster sold 8,562 shares of the company's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $3.86, for a total transaction of $33,049.32. Following the transaction, the insider owned 409,410 shares in the company, valued at $1,580,322.60. This represents a 2.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 126,059 shares of company stock worth $486,588. Corporate insiders own 5.30% of the company's stock.

Analyst Upgrades and Downgrades

ARDX has been the subject of a number of recent analyst reports. HC Wainwright reaffirmed a "buy" rating and set a $13.00 price target on shares of Ardelyx in a report on Friday, August 7th. TD Cowen lowered their price target on Ardelyx from $13.00 to $10.00 and set a "buy" rating for the company in a report on Friday, August 7th. Citigroup dropped their price objective on Ardelyx from $14.00 to $11.00 and set a "buy" rating for the company in a research report on Monday, August 10th. Piper Sandler reduced their price objective on Ardelyx from $16.00 to $15.00 and set an "overweight" rating on the stock in a research note on Monday, August 17th. Finally, BTIG Research lowered their price objective on shares of Ardelyx from $17.00 to $14.00 and set a "buy" rating for the company in a research report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Ardelyx has a consensus rating of "Moderate Buy" and a consensus target price of $13.90.

Key Ardelyx News

Here are the key news stories impacting Ardelyx this week:

• Neutral Sentiment: Reported short interest was listed at zero shares as of September 24, producing a 0.0-day short-interest ratio. This suggests short selling is not currently a significant identifiable driver, although the figure may reflect a reporting anomaly.
• Negative Sentiment: Multiple firms—including Robbins LLP, Bronstein Gewirtz & Grossman, SBS Law, Rosen Law Firm, Pomerantz, Portnoy Law Firm, Kaplan Fox and SueWallSt—announced or reiterated a securities class action involving Ardelyx investors who purchased shares from January 13, 2025, through August 6, 2026. Investors have until November 16, 2026 to seek appointment as lead plaintiff. Robbins LLP class action reminder Bronstein Gewirtz & Grossman class action notice
• Negative Sentiment: The complaint reportedly alleges that Ardelyx and certain executives misled investors about commercial performance and growth, including whether the company’s patient-access strategy was effective. The allegations reference payer prior-authorization and step-edit requirements that allegedly restricted prescriptions for IBSRELA and XPHOZAH. These claims have not been proven, but the repeated notices increase legal, reputational and potential financial-risk concerns for shareholders. Rosen Law Firm investor notice SueWallSt lawsuit notice

Ardelyx Stock Down 0.9%

Shares of NASDAQ ARDX opened at $3.42 on Friday. The company has a debt-to-equity ratio of 1.69, a quick ratio of 3.15 and a current ratio of 3.34. The company's 50 day moving average price is $4.10 and its 200-day moving average price is $5.26. Ardelyx, Inc. has a 52-week low of $3.33 and a 52-week high of $8.40. The company has a market capitalization of $852.23 million, a P/E ratio of -15.55 and a beta of 0.70.

Ardelyx (NASDAQ:ARDX - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.02). Ardelyx had a negative net margin of 12.35% and a negative return on equity of 36.00%. The business had revenue of $120.88 million during the quarter, compared to analyst estimates of $121.03 million. During the same period in the prior year, the firm earned ($0.08) earnings per share. The firm's revenue for the quarter was up 34.3% compared to the same quarter last year. Equities analysts forecast that Ardelyx, Inc. will post -0.2 earnings per share for the current year.

Ardelyx Profile

Ardelyx, Inc is a biopharmaceutical company focused on developing and commercializing therapies for gastrointestinal and cardiorenal conditions. The company's lead product candidates and marketed medicines are designed to address disorders involving the regulation of phosphate and other substances in the digestive system.

Ardelyx markets XPHOZAH (tenapanor) in the United States for reducing serum phosphorus in adults with chronic kidney disease on dialysis. Tenapanor works locally in the gastrointestinal tract by inhibiting the sodium/hydrogen exchanger 3, thereby reducing intestinal phosphate absorption.

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