Ardelyx (NASDAQ:ARDX) Trading Up 4.3%

Ardelyx, Inc. (NASDAQ:ARDX)’s stock price was up 4.3% on Friday . The company traded as high as $6.81 and last traded at $6.78. Approximately 277,440 shares changed hands during trading, a decline of 95% from the average daily volume of 5,544,378 shares. The stock had previously closed at $6.50.

Analyst Ratings Changes

Several equities research analysts recently commented on ARDX shares. Leerink Partnrs restated an “outperform” rating on shares of Ardelyx in a research report on Friday, April 5th. SVB Leerink assumed coverage on shares of Ardelyx in a research report on Friday, April 5th. They issued an “outperform” rating and a $14.00 target price for the company. Cantor Fitzgerald restated an “overweight” rating on shares of Ardelyx in a research note on Thursday, June 20th. Wedbush restated an “outperform” rating and set a $15.00 price target on shares of Ardelyx in a research note on Friday, May 24th. Finally, StockNews.com lowered shares of Ardelyx from a “hold” rating to a “sell” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $12.81.

Ardelyx Stock Up 14.0 %

The business’s 50 day moving average is $7.00 and its 200-day moving average is $7.62. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.36 and a current ratio of 4.53. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -26.46 and a beta of 0.79.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. The company had revenue of $46.00 million for the quarter, compared to analyst estimates of $36.40 million. Ardelyx had a negative net margin of 41.36% and a negative return on equity of 41.65%. The business’s quarterly revenue was up 303.5% on a year-over-year basis. During the same period last year, the business posted ($0.13) EPS. Equities analysts anticipate that Ardelyx, Inc. will post -0.36 EPS for the current fiscal year.

Insider Transactions at Ardelyx

In related news, insider Laura A. Williams sold 39,949 shares of Ardelyx stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $8.35, for a total transaction of $333,574.15. Following the completion of the transaction, the insider now directly owns 370,189 shares of the company’s stock, valued at approximately $3,091,078.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ardelyx news, insider Robert Blanks sold 38,000 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $5.96, for a total value of $226,480.00. Following the completion of the transaction, the insider now directly owns 324,331 shares of the company’s stock, valued at $1,933,012.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Laura A. Williams sold 39,949 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $8.35, for a total transaction of $333,574.15. Following the completion of the transaction, the insider now directly owns 370,189 shares of the company’s stock, valued at $3,091,078.15. The disclosure for this sale can be found here. In the last three months, insiders sold 535,637 shares of company stock valued at $4,128,322. Company insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Ardelyx

Several institutional investors have recently modified their holdings of the business. Xponance Inc. grew its position in shares of Ardelyx by 12.6% during the 4th quarter. Xponance Inc. now owns 14,112 shares of the biopharmaceutical company’s stock worth $87,000 after buying an additional 1,575 shares during the period. Mackenzie Financial Corp grew its holdings in Ardelyx by 5.6% during the fourth quarter. Mackenzie Financial Corp now owns 30,269 shares of the biopharmaceutical company’s stock valued at $188,000 after purchasing an additional 1,608 shares during the period. ProShare Advisors LLC grew its holdings in Ardelyx by 8.9% during the first quarter. ProShare Advisors LLC now owns 57,729 shares of the biopharmaceutical company’s stock valued at $421,000 after purchasing an additional 4,735 shares during the period. HighMark Wealth Management LLC acquired a new position in Ardelyx during the first quarter valued at approximately $36,000. Finally, Victory Capital Management Inc. grew its holdings in Ardelyx by 31.0% during the fourth quarter. Victory Capital Management Inc. now owns 30,100 shares of the biopharmaceutical company’s stock valued at $187,000 after purchasing an additional 7,117 shares during the period. Institutional investors and hedge funds own 58.92% of the company’s stock.

About Ardelyx

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.