Ardelyx, Inc. (NASDAQ:ARDX) Insider Laura A. Williams Sells 39,949 Shares

Ardelyx, Inc. (NASDAQ:ARDX) insider Laura A. Williams sold 39,949 shares of Ardelyx stock in a transaction on 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 sale, the insider now directly owns 370,189 shares of the company’s stock, valued at $3,091,078.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Ardelyx Trading Down 5.0 %

Shares of ARDX stock opened at $8.06 on Friday. Ardelyx, Inc. has a 52-week low of $3.16 and a 52-week high of $10.13. The company has a 50-day simple moving average of $7.62 and a two-hundred day simple moving average of $6.93. 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 company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -28.79 and a beta of 0.87.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Ardelyx had a negative return on equity of 41.65% and a negative net margin of 41.36%. The company had revenue of $46.00 million during the quarter, compared to the consensus estimate of $36.40 million. During the same period last year, the business posted ($0.13) earnings per share. Ardelyx’s revenue was up 303.5% on a year-over-year basis. Research analysts anticipate that Ardelyx, Inc. will post -0.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Ardelyx

A number of hedge funds and other institutional investors have recently made changes to their positions in ARDX. HighMark Wealth Management LLC bought a new stake in Ardelyx in the first quarter worth about $36,000. SJS Investment Consulting Inc. purchased a new position in Ardelyx in the fourth quarter valued at approximately $62,000. Sherbrooke Park Advisers LLC bought a new position in Ardelyx during the third quarter valued at $63,000. Jump Financial LLC purchased a new stake in Ardelyx in the fourth quarter worth $63,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Ardelyx in the first quarter valued at $64,000. 58.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ARDX has been the subject of a number of research analyst reports. Wedbush boosted their target price on Ardelyx from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Citigroup upped their target price on Ardelyx from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Piper Sandler lifted their price target on shares of Ardelyx from $12.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Leerink Partnrs restated an “outperform” rating on shares of Ardelyx in a report on Friday, April 5th. Finally, StockNews.com cut shares of Ardelyx from a “hold” rating to a “sell” rating in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $12.81.

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.