Mike Kelliher Sells 7,248 Shares of Ardelyx (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider Mike Kelliher sold 7,248 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $6.27, for a total transaction of $45,444.96. Following the completion of the transaction, the insider directly owned 357,418 shares of the company’s stock, valued at approximately $2,241,010.86. The trade was a 1.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Ardelyx Stock Performance

NASDAQ:ARDX opened at $6.11 on Friday. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.49 and a quick ratio of 3.28. The firm has a 50-day moving average of $6.08 and a two-hundred day moving average of $6.29. The stock has a market cap of $1.51 billion, a P/E ratio of -26.56 and a beta of 0.62. Ardelyx, Inc. has a 1-year low of $3.49 and a 1-year high of $8.40.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings data on Thursday, April 30th. The biopharmaceutical company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The firm had revenue of $94.47 million during the quarter, compared to analysts’ expectations of $92.78 million. Ardelyx had a negative net margin of 13.58% and a negative return on equity of 38.11%. The business’s quarterly revenue was up 27.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.17) earnings per share. On average, research analysts expect that Ardelyx, Inc. will post -0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ardelyx

A number of large investors have recently bought and sold shares of the business. Mercer Global Advisors Inc. ADV lifted its holdings in Ardelyx by 4.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 38,512 shares of the biopharmaceutical company’s stock worth $225,000 after acquiring an additional 1,722 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Ardelyx by 26.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,807 shares of the biopharmaceutical company’s stock worth $69,000 after acquiring an additional 2,491 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in Ardelyx by 0.7% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 347,609 shares of the biopharmaceutical company’s stock worth $2,027,000 after acquiring an additional 2,532 shares during the last quarter. Cerity Partners LLC lifted its holdings in Ardelyx by 5.3% in the fourth quarter. Cerity Partners LLC now owns 59,359 shares of the biopharmaceutical company’s stock worth $346,000 after acquiring an additional 2,972 shares during the last quarter. Finally, Integrated Wealth Concepts LLC lifted its holdings in Ardelyx by 24.2% in the third quarter. Integrated Wealth Concepts LLC now owns 15,263 shares of the biopharmaceutical company’s stock worth $84,000 after acquiring an additional 2,975 shares during the last quarter. Institutional investors own 58.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. TD Cowen reaffirmed a “buy” rating on shares of Ardelyx in a research report on Thursday, January 29th. Williams Trading set a $17.00 price target on shares of Ardelyx in a research report on Thursday, March 12th. Leerink Partners reaffirmed an “outperform” rating on shares of Ardelyx in a research report on Thursday, March 12th. BTIG Research reaffirmed a “buy” rating and set a $17.00 price target on shares of Ardelyx in a research report on Friday, February 20th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $15.00 price target on shares of Ardelyx in a research report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.70.

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.