Ardelyx (NASDAQ:ARDX) Reaches New 52-Week Low - Time to Sell?

Key Points

• Ardelyx shares fell to a new 52-week low of $3.68, below both their 50-day ($4.53) and 200-day ($5.50) moving averages, amid ongoing losses and negative profitability metrics.
• Analyst views remain mixed: the consensus rating is “Moderate Buy” with a $13.90 price target, despite recent downgrades from Weiss Ratings and Zacks Research and reduced targets from BTIG and Piper Sandler.
• The company missed quarterly earnings expectations, reporting a $0.07 per-share loss versus the expected $0.05 loss, while revenue rose 34.3% year over year; insiders have also sold 126,059 shares over the past 90 days.

Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report)'s share price hit a new 52-week low on Thursday . The stock traded as low as $3.68 and last traded at $3.6950, with a volume of 609071 shares. The stock had previously closed at $3.80.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Weiss Ratings cut 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 report on Wednesday, July 22nd. BTIG Research cut their target price on Ardelyx from $17.00 to $14.00 and set a "buy" rating for the company in a research note on Friday, August 7th. Piper Sandler reduced 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. Finally, LADENBURG THALM/SH SH started coverage on shares of Ardelyx in a report on Tuesday, June 16th. They issued a "buy" rating and a $16.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $13.90.

Ardelyx Stock Performance

The firm has a 50-day moving average price of $4.53 and a 200 day moving average price of $5.50. The firm has a market capitalization of $915.77 million, a PE ratio of -16.70 and a beta of 0.70. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.69.

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 for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.02). The business had revenue of $120.88 million during the quarter, compared to analyst estimates of $121.03 million. Ardelyx had a negative net margin of 12.35% and a negative return on equity of 36.00%. The company's revenue for the quarter was up 34.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.08) EPS. Research analysts expect that Ardelyx, Inc. will post -0.2 earnings per share for the current year.

Insider Buying and Selling

In other Ardelyx news, insider James Brady sold 15,136 shares of the firm's stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $3.86, for a total transaction of $58,424.96. Following the sale, the insider owned 245,930 shares of the company's stock, valued at approximately $949,289.80. This trade represents a 5.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Laura A. Williams sold 10,739 shares of Ardelyx stock in a transaction on Friday, August 21st. The stock was sold at an average price of $3.86, for a total transaction of $41,452.54. Following the sale, the insider owned 367,456 shares in the company, valued at $1,418,380.16. This represents a 2.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 126,059 shares of company stock worth $486,588 over the last ninety days. Company insiders own 5.30% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Knott David M Jr acquired a new position in Ardelyx in the first quarter valued at $1,240,000. AIGH Capital Management LLC acquired a new stake in Ardelyx during the second quarter worth about $16,320,000. Rubric Capital Management LP acquired a new stake in Ardelyx during the first quarter worth about $11,147,000. Clay Northam Wealth Management LLC purchased a new position in shares of Ardelyx in the 2nd quarter worth about $1,704,000. Finally, Vanguard Group Inc. raised its holdings in shares of Ardelyx by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 18,979,483 shares of the biopharmaceutical company's stock worth $110,650,000 after purchasing an additional 610,162 shares during the period. 58.92% of the stock is currently owned by institutional investors and hedge funds.

About Ardelyx

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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