Ardelyx (NASDAQ:ARDX) Reaches New 12-Month Low – Here’s What Happened

Ardelyx, Inc. (NASDAQ:ARDX)’s stock price hit a new 52-week low on Friday. The company traded as low as $2.90 and last traded at $2.9350, with a volume of 679,933 shares trading hands. The stock had previously closed at $2.99.

Key Ardelyx News

Here are the key news stories impacting Ardelyx this week:

• Positive Sentiment: TD Cowen initiated coverage with a “Strong Buy” rating; it also recently reaffirmed a Buy rating. HC Wainwright maintained its Buy rating and $13 price target. Read more: TD Cowen coverage
• Positive Sentiment: Ardelyx completed enrollment in the Phase 3 ACCEL trial of IBSRELA for adults with chronic idiopathic constipation, a development milestone ahead of future trial results. Read more: ACCEL trial enrollment
• Neutral Sentiment: Q3 EPS of $0.00 beat the consensus forecast for a $0.02 loss, while revenue of $127.66 million was slightly below estimates of $127.99 million. Revenue grew 21% year over year. Read more: Q3 results
• Negative Sentiment: Multiple law firms publicized a pending securities class action, with a November 16 lead-plaintiff deadline. The lawsuit alleges Ardelyx misrepresented payer access and reimbursement barriers affecting IBSRELA and XPHOZAH; these are allegations, not established findings. The legal overhang may weigh on sentiment. Read more: Class action notice
• Negative Sentiment: HC Wainwright raised its Q4 2026 and FY2026 EPS estimates, but sharply cut forecasts for FY2027 ($0.06 from $0.35) and FY2029 ($1.18 from $1.56), with smaller reductions for FY2028 and FY2030. Those longer-range cuts temper the near-term estimate improvements.

Wall Street Analysts Forecast Growth

ARDX has been the topic of several recent analyst reports. BTIG Research reduced their price objective on shares of Ardelyx from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Ardelyx in a report on Friday, September 25th. HC Wainwright reiterated a “buy” rating and issued a $13.00 target price on shares of Ardelyx in a report on Friday, August 7th. TD Cowen started coverage on shares of Ardelyx in a research report on Wednesday. They set a “strong-buy” rating on the stock. Finally, Piper Sandler lowered their price target on Ardelyx from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Monday, August 17th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Ardelyx has a consensus rating of “Moderate Buy” and an average price target of $13.90.

Ardelyx Stock Down 1.2%

The firm has a market capitalization of $742.80 million, a P/E ratio of -13.39 and a beta of 0.79. The company has a debt-to-equity ratio of 1.54, a quick ratio of 3.15 and a current ratio of 3.45. The firm’s 50-day moving average is $3.37 and its 200 day moving average is $5.26.

Ardelyx (NASDAQ:ARDX) last released its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). Ardelyx had a negative return on equity of 35.30% and a negative net margin of 11.85%. The firm had revenue of $120.88 million for the quarter, compared to the consensus estimate of $121.03 million. During the same quarter last year, the company posted ($0.08) EPS. Ardelyx’s revenue for the quarter was up 34.3% on a year-over-year basis. As a group, equities research analysts predict that Ardelyx, Inc. will post -0.20 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Eric Foster sold 8,562 shares of the company’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $3.86, for a total transaction of $33,049.32. Following the completion of the transaction, the insider directly owned 409,410 shares of the company’s stock, valued at $1,580,322.60. This represents a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Mike Kelliher sold 7,758 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $3.86, for a total value of $29,945.88. Following the transaction, the insider owned 349,660 shares of the company’s stock, valued at approximately $1,349,687.60. The trade was a 2.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 126,059 shares of company stock valued at $486,588. Corporate insiders own 5.30% of the company’s stock.

Hedge Funds Weigh In On Ardelyx

Several hedge funds have recently made changes to their positions in ARDX. Knott David M Jr acquired a new stake in shares of Ardelyx in the first quarter valued at approximately $1,240,000. AIGH Capital Management LLC acquired a new position in Ardelyx during the second quarter worth $16,320,000. Rubric Capital Management LP acquired a new position in Ardelyx during the first quarter worth $11,147,000. Clay Northam Wealth Management LLC bought a new position in Ardelyx in the second quarter valued at $1,704,000. Finally, J. Goldman & Co LP bought a new position in Ardelyx in the second quarter valued at $8,057,000. 58.92% of the stock is owned by institutional investors.

Ardelyx Company Profile

Ardelyx, Inc is a biopharmaceutical company focused on developing and commercializing therapies for gastrointestinal and cardiorenal diseases. The company’s platform is centered on regulating ion transport in the gut, with the goal of addressing conditions that are inadequately served by existing treatments.

Ardelyx’s marketed products include IBSRELA (tenapanor), an oral treatment for adults with irritable bowel syndrome with constipation, and XPHOZAH (tenapanor), a therapy designed to reduce serum phosphorus in adults with chronic kidney disease on dialysis who have an inadequate response to, or are intolerant of, phosphate binders.