Ardelyx (NASDAQ:ARDX) Insider Mike Kelliher Sells 7,758 Shares of Stock

Key Points

• Insider sale: Mike Kelliher sold 7,758 Ardelyx shares for approximately $29,946, reducing his ownership by 2.17% to 349,660 shares.
• Stock and earnings: ARDX shares rose 1.1% to $3.78, near their 52-week low of $3.72. Ardelyx reported quarterly revenue of $120.88 million, up 34.3% year over year, but missed earnings expectations with a loss of $0.07 per share.
• Analyst outlook: Despite mixed ratings—including recent target cuts and a “strong sell” call—Ardelyx has an overall “Moderate Buy” consensus rating and an average price target of $13.90, well above its current price.

Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) insider Mike Kelliher sold 7,758 shares of the company's stock in a transaction on Friday, August 21st. The stock was sold at an average price of $3.86, for a total value of $29,945.88. Following the completion of the sale, the insider owned 349,660 shares of the company's stock, valued at $1,349,687.60. This represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Ardelyx Stock Up 1.1%

Shares of ARDX traded up $0.04 during midday trading on Tuesday, reaching $3.78. 3,418,138 shares of the stock were exchanged, compared to its average volume of 5,069,888. The company has a market capitalization of $941.94 million, a P/E ratio of -17.18 and a beta of 0.70. The company has a current ratio of 3.34, a quick ratio of 3.15 and a debt-to-equity ratio of 1.69. Ardelyx, Inc. has a 52 week low of $3.72 and a 52 week high of $8.40. The company's 50 day moving average is $4.97 and its two-hundred day moving average is $5.75.

Ardelyx (NASDAQ:ARDX - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $120.88 million during the quarter, compared to the consensus estimate of $121.03 million. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. The business's revenue was up 34.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Ardelyx, Inc. will post -0.2 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Citigroup cut their price objective on shares of Ardelyx from $14.00 to $11.00 and set a "buy" rating on the stock in a report on Monday, August 10th. Weiss Ratings lowered Ardelyx from a "sell (d-)" rating to a "sell (e+)" rating in a report on Monday, June 29th. Zacks Research cut Ardelyx from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 22nd. Wedbush reiterated an "outperform" rating and issued a $9.00 price target on shares of Ardelyx in a report on Tuesday, August 18th. Finally, Piper Sandler cut their price target on Ardelyx from $16.00 to $15.00 and set an "overweight" rating on the stock in a report on Monday, August 17th. One 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 stock. According to MarketBeat.com, Ardelyx presently has an average rating of "Moderate Buy" and an average target price of $13.90.

Institutional Trading of Ardelyx

A number of institutional investors have recently modified their holdings of ARDX. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Ardelyx in the 2nd quarter worth approximately $35,000. SCS Capital Management LLC bought a new position in shares of Ardelyx during the 2nd quarter worth approximately $52,000. ADAR1 Capital Management LLC purchased a new stake in Ardelyx during the second quarter valued at approximately $56,000. Krilogy Financial LLC purchased a new stake in Ardelyx during the first quarter valued at approximately $70,000. Finally, PVG Asset Management Corp purchased a new stake in Ardelyx during the first quarter valued at approximately $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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