Mike Kelliher Sells 5,560 Shares of Ardelyx (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider Mike Kelliher sold 5,560 shares of Ardelyx stock in a transaction on Friday, November 21st. The stock was sold at an average price of $5.54, for a total value of $30,802.40. Following the sale, the insider directly owned 271,181 shares of the company’s stock, valued at approximately $1,502,342.74. This trade represents a 2.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Ardelyx Trading Up 3.7%

NASDAQ ARDX opened at $5.93 on Thursday. Ardelyx, Inc. has a 12 month low of $3.21 and a 12 month high of $6.78. The stock has a 50-day simple moving average of $5.52 and a 200 day simple moving average of $5.00. The company has a current ratio of 4.30, a quick ratio of 4.03 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $1.44 billion, a PE ratio of -25.78 and a beta of 0.66.

Ardelyx (NASDAQ:ARDX) last issued its earnings results on Thursday, October 30th. The biopharmaceutical company reported $0.00 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.06. The firm had revenue of $110.33 million during the quarter, compared to the consensus estimate of $100.44 million. Ardelyx had a negative net margin of 14.60% and a negative return on equity of 36.57%. The business’s revenue was up 14.6% compared to the same quarter last year. Research analysts forecast that Ardelyx, Inc. will post -0.18 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on ARDX shares. Weiss Ratings restated a “sell (d-)” rating on shares of Ardelyx in a research report on Wednesday, October 8th. Cowen reaffirmed a “buy” rating on shares of Ardelyx in a research report on Friday, October 31st. Wall Street Zen upgraded Ardelyx from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Piper Sandler increased their target price on Ardelyx from $9.00 to $10.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 4th. Finally, Citigroup lifted their price target on shares of Ardelyx from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.73.

Institutional Investors Weigh In On Ardelyx

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Merit Financial Group LLC boosted its position in Ardelyx by 12.0% during the 3rd quarter. Merit Financial Group LLC now owns 23,680 shares of the biopharmaceutical company’s stock worth $130,000 after acquiring an additional 2,537 shares during the last quarter. Brighton Jones LLC lifted its position in shares of Ardelyx by 25.1% in the third quarter. Brighton Jones LLC now owns 12,701 shares of the biopharmaceutical company’s stock worth $70,000 after purchasing an additional 2,550 shares in the last quarter. Savant Capital LLC lifted its position 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 worth $154,000 after purchasing an additional 2,610 shares in the last quarter. Integrated Wealth Concepts LLC boosted its holdings in Ardelyx by 24.2% during the third quarter. Integrated Wealth Concepts LLC now owns 15,263 shares of the biopharmaceutical company’s stock worth $84,000 after purchasing an additional 2,975 shares during the last quarter. Finally, E Fund Management Co. Ltd. grew its position in Ardelyx by 8.9% in the second quarter. E Fund Management Co. Ltd. now owns 40,023 shares of the biopharmaceutical company’s stock valued at $157,000 after purchasing an additional 3,255 shares in the last quarter. Institutional investors and hedge funds own 58.92% of the company’s stock.

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.