Ardelyx (NASDAQ:ARDX) Insider Joseph James Reilly Sells 3,982 Shares

Key Points

• Insider sale: Joseph James Reilly sold 3,982 Ardelyx shares at an average price of $3.86, generating $15,370.52 and reducing his holdings by 2.66% to 145,854 shares.
• Weak financial performance: Ardelyx’s shares traded near their 12-month low at $3.78, while the company reported a quarterly loss of $0.07 per share, missing estimates, despite revenue increasing 34.3% year over year to $120.88 million.
• Analyst sentiment remains mixed but positive overall: Ardelyx has a “Moderate Buy” consensus rating and an average price target of $13.90, though several analysts recently lowered their targets and Zacks downgraded the stock to “Strong Sell.”

Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) insider Joseph James Reilly sold 3,982 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $3.86, for a total transaction of $15,370.52. Following the transaction, the insider owned 145,854 shares of the company's stock, valued at approximately $562,996.44. The trade was a 2.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Ardelyx Stock Performance

ARDX stock traded up $0.04 during mid-day trading on Tuesday, hitting $3.78. The company had a trading volume of 3,418,138 shares, compared to its average volume of 5,069,888. 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 firm has a market cap of $941.94 million, a PE ratio of -17.18 and a beta of 0.70. Ardelyx, Inc. has a 12 month low of $3.72 and a 12 month high of $8.40. The stock's fifty day moving average price is $4.97 and its two-hundred day moving average price is $5.75.

Ardelyx (NASDAQ:ARDX - Get Free Report) last released its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.07) earnings per share 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 company had revenue of $120.88 million for the quarter, compared to the consensus estimate of $121.03 million. During the same period in the prior year, the company earned ($0.08) earnings per share. The firm's revenue was up 34.3% on a year-over-year basis. On average, analysts forecast that Ardelyx, Inc. will post -0.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on ARDX shares. TD Cowen lowered their target price on Ardelyx from $13.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday, August 7th. Wedbush reiterated an "outperform" rating and set a $9.00 target price on shares of Ardelyx in a research report on Tuesday, August 18th. BTIG Research lowered their price target on shares of Ardelyx from $17.00 to $14.00 and set a "buy" rating on the stock in a research report on Friday, August 7th. Zacks Research downgraded shares of Ardelyx from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 22nd. Finally, Piper Sandler reduced their price objective on shares of Ardelyx from $16.00 to $15.00 and set an "overweight" rating for the company in a research note on Monday, August 17th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Ardelyx presently has an average rating of "Moderate Buy" and an average target price of $13.90.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Ardelyx during the 2nd quarter worth approximately $35,000. SCS Capital Management LLC purchased a new position in Ardelyx during the second quarter valued at $52,000. ADAR1 Capital Management LLC bought a new stake in Ardelyx during the second quarter valued at about $56,000. State of Wyoming bought a new position in shares of Ardelyx in the second quarter worth about $61,000. Finally, PVG Asset Management Corp purchased a new position in shares of Ardelyx during the 1st quarter valued at about $65,000. 58.92% of the stock is currently owned by institutional investors.

Ardelyx Company Profile

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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