Mike Kelliher Sells 9,595 Shares of Ardelyx (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider Mike Kelliher sold 9,595 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $5.85, for a total transaction of $56,130.75. Following the sale, the insider owned 364,666 shares of the company’s stock, valued at approximately $2,133,296.10. The trade was a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Ardelyx Trading Up 0.3%

NASDAQ:ARDX traded up $0.02 on Monday, reaching $5.75. The company’s stock had a trading volume of 7,054,837 shares, compared to its average volume of 3,578,790. The stock has a 50 day moving average price of $6.76 and a 200 day moving average price of $6.13. Ardelyx, Inc. has a 12-month low of $3.21 and a 12-month high of $8.40. The company has a quick ratio of 4.11, a current ratio of 4.31 and a debt-to-equity ratio of 1.21. The firm has a market cap of $1.41 billion, a price-to-earnings ratio of -23.00 and a beta of 0.57.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.03). The business had revenue of $125.22 million during the quarter, compared to analysts’ expectations of $118.04 million. Ardelyx had a negative net margin of 15.12% and a negative return on equity of 40.63%. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.02 EPS. On average, equities analysts anticipate that Ardelyx, Inc. will post -0.18 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ARDX shares. Wedbush reaffirmed an “outperform” rating and issued a $19.00 target price on shares of Ardelyx in a report on Monday. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $19.00 price objective on shares of Ardelyx in a report on Thursday, January 8th. HC Wainwright increased their target price on Ardelyx from $10.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday. Jefferies Financial Group restated a “buy” rating and issued a $15.00 price target on shares of Ardelyx in a research note on Tuesday, January 27th. Finally, Piper Sandler upgraded Ardelyx from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $10.00 to $16.00 in a research report on Thursday, January 8th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ardelyx currently has a consensus rating of “Buy” and a consensus price target of $15.09.

Hedge Funds Weigh In On Ardelyx

Large investors have recently modified their holdings of the company. Invesco Ltd. raised its stake in shares of Ardelyx by 23.1% during the fourth quarter. Invesco Ltd. now owns 317,410 shares of the biopharmaceutical company’s stock valued at $1,851,000 after purchasing an additional 59,597 shares during the period. Mercer Global Advisors Inc. ADV boosted its position in Ardelyx by 4.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 38,512 shares of the biopharmaceutical company’s stock valued at $225,000 after buying an additional 1,722 shares during the last quarter. Mackenzie Financial Corp grew its stake in Ardelyx by 12.8% during the 4th quarter. Mackenzie Financial Corp now owns 199,550 shares of the biopharmaceutical company’s stock valued at $1,155,000 after purchasing an additional 22,715 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of Ardelyx by 1,690.9% in the 4th quarter. NewEdge Advisors LLC now owns 17,909 shares of the biopharmaceutical company’s stock valued at $104,000 after purchasing an additional 16,909 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Ardelyx during the fourth quarter worth about $698,000. 58.92% of the stock is currently owned by hedge funds and other institutional investors.

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.