Ardelyx, Inc. (NASDAQ:ARDX – Get Free Report) insider James Parker Brady sold 15,136 shares of Ardelyx stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $3.86, for a total transaction of $58,424.96. Following the transaction, the insider directly owned 245,930 shares of the company’s stock, valued at approximately $949,289.80. This trade represents a 5.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Ardelyx Stock Up 1.1%
NASDAQ:ARDX traded up $0.04 during mid-day trading on Tuesday, hitting $3.78. 3,418,138 shares of the company’s stock were exchanged, compared to its average volume of 5,069,888. The company has a market cap of $941.94 million, a PE ratio of -17.18 and a beta of 0.70. The company has a debt-to-equity ratio of 1.69, a current ratio of 3.34 and a quick ratio of 3.15. Ardelyx, Inc. has a one year low of $3.72 and a one year high of $8.40. The business has a fifty day moving average price of $4.97 and a 200 day moving average price of $5.75.
Ardelyx (NASDAQ:ARDX – Get Free Report) last announced its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). Ardelyx had a negative net margin of 12.35% and a negative return on equity of 36.00%. The business had revenue of $120.88 million for the quarter, compared to the consensus estimate of $121.03 million. During the same period in the prior year, the business posted ($0.08) EPS. Ardelyx’s revenue for the quarter was up 34.3% on a year-over-year basis. Equities analysts predict that Ardelyx, Inc. will post -0.2 EPS for the current year.
Institutional Investors Weigh In On Ardelyx
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the company. TD Cowen reduced their price objective on Ardelyx from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, August 7th. LADENBURG THALM/SH SH initiated coverage on Ardelyx in a report on Tuesday, June 16th. They issued a “buy” rating and a $16.00 target price on the stock. HC Wainwright reissued a “buy” rating and issued a $13.00 target price on shares of Ardelyx in a research note on Friday, August 7th. Weiss Ratings cut Ardelyx from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 29th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $9.00 price target on shares of Ardelyx in a research report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Ardelyx presently has an average rating of “Moderate Buy” and a consensus target price of $13.90.
Get Our Latest Research Report on ARDX
Ardelyx Company Profile
Ardelyx, Inc (NASDAQ: ARDX) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing targeted small molecule drugs for cardio‐renal and gastrointestinal diseases. The company’s lead marketed product, tenapanor (sold under the brand name XPHOZAH in the United States), is approved for the treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis. Ardelyx’s proprietary approach targets epithelial transporters in the gastrointestinal tract, offering localized activity with limited systemic exposure.
Beyond tenapanor, Ardelyx’s development pipeline includes treatments designed to address other complications in kidney disease and related metabolic disorders.
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