Ardelyx's (ARDX) "Outperform" Rating Reiterated at Wedbush

Key Points

• Wedbush has raised its target price for Ardelyx (NASDAQ:ARDX) from $13.00 to $14.00, suggesting a potential upside of 174.24% based on the previous closing price.
• Ardelyx reported a quarterly revenue of $97.66 million, exceeding analyst expectations and indicating a 23.0% increase compared to the same period last year.
• Insider trading activity includes CEO Michael Raab selling 46,817 shares, while Director David Mott purchased 200,000 shares, reflecting differing views on the stock's future.

Ardelyx (NASDAQ:ARDX - Get Free Report)'s stock had its "outperform" rating reaffirmed by stock analysts at Wedbush in a research report issued to clients and investors on Tuesday, MarketBeat reports. They presently have a $14.00 target price on the biopharmaceutical company's stock, up from their previous target price of $13.00. Wedbush's price target suggests a potential upside of 172.37% from the stock's previous close. Wedbush also issued estimates for Ardelyx's Q3 2025 earnings at ($0.03) EPS, Q4 2025 earnings at $0.00 EPS, FY2025 earnings at ($0.28) EPS, FY2026 earnings at $0.06 EPS, FY2027 earnings at $0.41 EPS, FY2028 earnings at $0.69 EPS and FY2029 earnings at $0.95 EPS.

Several other equities research analysts have also commented on ARDX. Wall Street Zen lowered shares of Ardelyx from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Raymond James Financial cut shares of Ardelyx from a "strong-buy" rating to an "outperform" rating and set a $11.00 target price for the company. in a report on Friday, May 2nd. Citigroup dropped their target price on shares of Ardelyx from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, HC Wainwright initiated coverage on shares of Ardelyx in a research report on Wednesday, June 18th. They set a "buy" rating and a $10.00 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Ardelyx has an average rating of "Moderate Buy" and an average target price of $11.50.

Ardelyx Stock Down 1.2%

Shares of ARDX stock traded down $0.06 during midday trading on Tuesday, reaching $5.14. 4,269,160 shares of the stock were exchanged, compared to its average volume of 4,536,229. Ardelyx has a 1 year low of $3.21 and a 1 year high of $7.18. The firm has a market cap of $1.24 billion, a PE ratio of -22.35 and a beta of 0.68. The company's 50 day moving average is $4.13 and its two-hundred day moving average is $4.64. The company has a current ratio of 4.30, a quick ratio of 3.81 and a debt-to-equity ratio of 1.44.

Ardelyx (NASDAQ:ARDX - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.05. The company had revenue of $97.66 million for the quarter, compared to analysts' expectations of $82.69 million. Ardelyx had a negative return on equity of 36.57% and a negative net margin of 14.60%. The firm's revenue for the quarter was up 23.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.07) earnings per share. On average, equities research analysts predict that Ardelyx will post -0.18 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Justin A. Renz sold 7,218 shares of the 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 directly owned 416,089 shares of the company's stock, valued at $1,697,643.12. This represents a 1.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Raab sold 46,817 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 value of $191,013.36. Following the completion of the sale, the chief executive officer directly owned 1,547,937 shares of the company's stock, valued at $6,315,582.96. The trade was a 2.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have purchased 500,000 shares of company stock worth $1,793,000 and have sold 83,477 shares worth $340,586. Company insiders own 4.80% of the company's stock.

Institutional Trading of Ardelyx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARDX. Ensign Peak Advisors Inc increased its stake in Ardelyx by 3.1% in the 4th quarter. Ensign Peak Advisors Inc now owns 73,950 shares of the biopharmaceutical company's stock worth $375,000 after buying an additional 2,200 shares in the last quarter. Savant Capital LLC grew its holdings in shares of Ardelyx by 7.1% in the second quarter. Savant Capital LLC now owns 39,386 shares of the biopharmaceutical company's stock valued at $154,000 after purchasing an additional 2,610 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Ardelyx by 2.3% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 154,625 shares of the biopharmaceutical company's stock worth $788,000 after buying an additional 3,550 shares during the last quarter. Crux Wealth Advisors raised its position in Ardelyx by 17.7% during the second quarter. Crux Wealth Advisors now owns 27,393 shares of the biopharmaceutical company's stock valued at $107,000 after purchasing an additional 4,120 shares during the period. Finally, Orion Portfolio Solutions LLC raised its holdings in Ardelyx by 42.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 16,486 shares of the biopharmaceutical company's stock valued at $84,000 after buying an additional 4,933 shares during the period. 58.92% of the stock is owned by hedge funds and other institutional investors.

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.