Ardelyx (NASDAQ:ARDX) Now Covered by Analysts at HC Wainwright

Equities research analysts at HC Wainwright began coverage on shares of Ardelyx (NASDAQ:ARDX - Get Free Report) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm set a "buy" rating and a $10.00 price target on the biopharmaceutical company's stock. HC Wainwright's target price points to a potential upside of 181.69% from the stock's previous close.

A number of other equities research analysts also recently weighed in on the stock. Piper Sandler raised shares of Ardelyx to a "hold" rating in a report on Wednesday, March 12th. Wall Street Zen lowered shares of Ardelyx from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Cantor Fitzgerald upgraded shares of Ardelyx to a "strong-buy" rating in a research report on Tuesday, March 4th. Raymond James Financial cut Ardelyx from a "strong-buy" rating to an "outperform" rating and set a $11.00 price target on the stock. in a report on Friday, May 2nd. Finally, LADENBURG THALM/SH SH reiterated a "buy" rating and set a $11.00 price objective on shares of Ardelyx in a research report on Friday, March 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.89.

Ardelyx Stock Down 3.0%

Shares of Ardelyx stock opened at $3.55 on Wednesday. The stock has a market capitalization of $849.37 million, a price-to-earnings ratio of -16.14 and a beta of 0.59. Ardelyx has a twelve month low of $3.21 and a twelve month high of $8.06. The company has a current ratio of 4.12, a quick ratio of 3.81 and a debt-to-equity ratio of 1.04. The business's 50 day simple moving average is $4.15 and its 200-day simple moving average is $4.86.

Ardelyx (NASDAQ:ARDX - Get Free Report) last issued its quarterly earnings data 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 34.45% and a negative net margin of 14.86%. The business had revenue of $74.11 million during the quarter, compared to the consensus estimate of $79.40 million. During the same period last year, the company earned ($0.11) earnings per share. The business's quarterly revenue was up 61.1% compared to the same quarter last year. Equities research analysts forecast that Ardelyx will post -0.18 earnings per share for the current year.

Insider Buying and Selling

In other news, Director David M. Mott purchased 200,000 shares of the business's stock in a transaction on Monday, June 9th. The stock was purchased at an average price of $3.69 per share, for a total transaction of $738,000.00. Following the completion of the purchase, the director now directly owns 2,696,871 shares in the company, valued at $9,951,453.99. The trade was a 8.01% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Laura A. Williams sold 6,421 shares of the firm'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 completion of the sale, the insider now owns 402,583 shares of the company's stock, valued at $1,642,538.64. This trade represents a 1.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders purchased 681,377 shares of company stock valued at $2,676,411 and sold 166,809 shares valued at $708,914. 4.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Ardelyx

A number of hedge funds and other institutional investors have recently modified their holdings of the company. GF Fund Management CO. LTD. acquired a new stake in shares of Ardelyx during the 4th quarter worth approximately $25,000. SBI Securities Co. Ltd. bought a new stake in Ardelyx during the fourth quarter worth $41,000. Cyndeo Wealth Partners LLC bought a new stake in Ardelyx during the first quarter worth $49,000. Quarry LP acquired a new stake in shares of Ardelyx in the 4th quarter valued at $51,000. Finally, Rehmann Capital Advisory Group bought a new position in shares of Ardelyx in the 4th quarter valued at $51,000. Institutional investors and hedge funds own 58.92% of the company's stock.

Ardelyx Company Profile

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.