Ardelyx, Inc. (NASDAQ:ARDX) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Ardelyx, Inc. (NASDAQ:ARDX) have earned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $9.42.

Several equities research analysts have issued reports on the stock. Jefferies Financial Group lowered their price target on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Citigroup dropped their target price on Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Piper Sandler raised their price target on Ardelyx from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday. Finally, HC Wainwright reiterated a “neutral” rating and set a $5.50 price objective on shares of Ardelyx in a research note on Thursday, January 16th.

Ardelyx Trading Down 2.2 %

NASDAQ:ARDX opened at $5.36 on Friday. The company has a market cap of $1.27 billion, a P/E ratio of -17.87 and a beta of 0.85. Ardelyx has a twelve month low of $4.32 and a twelve month high of $10.13. The business has a 50 day moving average price of $5.23 and a two-hundred day moving average price of $5.64. The company has a quick ratio of 3.87, a current ratio of 4.03 and a debt-to-equity ratio of 0.64.

Insiders Place Their Bets

In other Ardelyx news, insider David P. Rosenbaum sold 27,172 shares of the company’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $5.95, for a total value of $161,673.40. Following the completion of the transaction, the insider now directly owns 153,616 shares in the company, valued at approximately $914,015.20. This represents a 15.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Justin A. Renz sold 5,260 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $4.79, for a total value of $25,195.40. Following the completion of the sale, the chief financial officer now owns 291,139 shares in the company, valued at $1,394,555.81. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 193,358 shares of company stock worth $1,041,766 over the last three months. Insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Ardelyx

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. bought a new stake in Ardelyx in the 4th quarter valued at about $35,000. Helen Stephens Group LLC acquired a new stake in Ardelyx in the third quarter valued at approximately $76,000. CWM LLC increased its holdings in shares of Ardelyx by 328.1% during the third quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock valued at $88,000 after acquiring an additional 9,821 shares in the last quarter. KBC Group NV raised its position in shares of Ardelyx by 101.8% during the fourth quarter. KBC Group NV now owns 13,706 shares of the biopharmaceutical company’s stock worth $69,000 after purchasing an additional 6,915 shares during the period. Finally, Bleakley Financial Group LLC acquired a new stake in Ardelyx in the 4th quarter valued at $98,000. 58.92% of the stock is owned by institutional investors.

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.