Ardelyx (NASDAQ:ARDX - Get Free Report)'s stock had its "outperform" rating reaffirmed by research analysts at Raymond James Financial in a report issued on Tuesday, Marketbeat Ratings reports. They currently have a $12.00 price objective on the biopharmaceutical company's stock, up from their previous price objective of $11.00. Raymond James Financial's price target indicates a potential upside of 135.06% from the company's previous close.
A number of other equities analysts also recently issued reports on ARDX. Citigroup decreased their price objective on Ardelyx from $11.00 to $10.00 and set a "buy" rating for the company in a report on Friday, May 2nd. HC Wainwright started coverage on shares of Ardelyx in a report on Wednesday, June 18th. They issued a "buy" rating and a $10.00 price target on the stock. Wedbush restated an "outperform" rating and set a $14.00 target price (up from $13.00) on shares of Ardelyx in a research report on Tuesday. Finally, Wall Street Zen cut Ardelyx from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Ardelyx presently has an average rating of "Moderate Buy" and an average target price of $11.50.
Read Our Latest Analysis on Ardelyx
Ardelyx Price Performance
ARDX traded down $0.10 during midday trading on Tuesday, hitting $5.11. The company had a trading volume of 1,539,138 shares, compared to its average volume of 4,808,834. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.81 and a current ratio of 4.30. The company has a market capitalization of $1.23 billion, a PE ratio of -22.24 and a beta of 0.68. The firm's 50-day simple moving average is $4.08 and its 200-day simple moving average is $4.63. Ardelyx has a twelve month low of $3.21 and a twelve month high of $7.18.
Ardelyx (NASDAQ:ARDX - Get Free Report) last posted its earnings results on Monday, August 4th. The biopharmaceutical company reported ($0.08) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.05. The firm had revenue of $97.66 million during the quarter, compared to analysts' expectations of $82.69 million. Ardelyx had a negative net margin of 14.60% and a negative return on equity of 36.57%. The business's revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.07) earnings per share. Equities research analysts predict that Ardelyx will post -0.18 EPS for the current fiscal year.
Insider Activity at Ardelyx
In other news, insider Laura A. Williams sold 6,421 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $4.08, for a total value of $26,197.68. Following the completion of the transaction, the insider owned 402,583 shares of the company's stock, valued at approximately $1,642,538.64. This represents a 1.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Justin A. Renz sold 7,218 shares of Ardelyx stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $4.08, for a total transaction of $29,449.44. Following the transaction, the chief financial officer owned 416,089 shares in the company, valued at $1,697,643.12. This represents a 1.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 500,000 shares of company stock valued at $1,793,000 and sold 83,477 shares valued at $340,586. Insiders own 4.80% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. GF Fund Management CO. LTD. purchased a new stake in Ardelyx during the 4th quarter worth about $25,000. GAMMA Investing LLC increased its position in Ardelyx by 1,342.0% in the first quarter. GAMMA Investing LLC now owns 5,912 shares of the biopharmaceutical company's stock worth $290,000 after buying an additional 5,502 shares during the period. Quarry LP acquired a new position in shares of Ardelyx during the 4th quarter valued at $51,000. Rehmann Capital Advisory Group purchased a new position in Ardelyx in the 4th quarter worth about $51,000. Finally, Cyndeo Wealth Partners LLC purchased a new position in Ardelyx during the first quarter valued at approximately $49,000. 58.92% of the stock is owned by hedge funds and other institutional investors.
Ardelyx Company Profile
(
Get Free Report)
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.
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