Ardelyx, Inc. (NASDAQ:ARDX) Insider Laura A. Williams Sells 4,941 Shares of Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider Laura A. Williams sold 4,941 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $5.62, for a total transaction of $27,768.42. Following the sale, the insider now directly owns 303,804 shares in the company, valued at $1,707,378.48. This trade represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Ardelyx Price Performance

Ardelyx stock opened at $5.06 on Friday. The firm’s 50-day simple moving average is $5.30 and its 200 day simple moving average is $5.64. Ardelyx, Inc. has a 52 week low of $4.32 and a 52 week high of $9.83. The firm has a market capitalization of $1.20 billion, a PE ratio of -16.85 and a beta of 0.85. The company has a quick ratio of 3.87, a current ratio of 4.03 and a debt-to-equity ratio of 0.64.

Ardelyx (NASDAQ:ARDX) last posted its earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. The firm had revenue of $116.13 million during the quarter, compared to the consensus estimate of $111.16 million. Ardelyx had a negative net margin of 28.82% and a negative return on equity of 46.60%. On average, equities research analysts predict that Ardelyx, Inc. will post -0.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ARDX shares. Citigroup lowered their target price on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Piper Sandler increased their target price on shares of Ardelyx from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, January 27th. Raymond James reissued a “strong-buy” rating and issued a $13.00 price objective (down previously from $15.00) on shares of Ardelyx in a research note on Friday. Cantor Fitzgerald raised shares of Ardelyx to a “strong-buy” rating in a research note on Thursday, January 30th. Finally, HC Wainwright reissued a “neutral” rating and issued a $5.50 price objective on shares of Ardelyx in a research note on Friday. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Ardelyx presently has a consensus rating of “Moderate Buy” and an average price target of $9.93.

Institutional Investors Weigh In On Ardelyx

Several institutional investors and hedge funds have recently made changes to their positions in ARDX. GF Fund Management CO. LTD. acquired a new stake in Ardelyx in the fourth quarter worth $25,000. Newbridge Financial Services Group Inc. acquired a new stake in Ardelyx during the fourth quarter valued at approximately $35,000. SBI Securities Co. Ltd. acquired a new stake in Ardelyx during the fourth quarter valued at approximately $41,000. Quarry LP acquired a new stake in Ardelyx during the fourth quarter valued at approximately $51,000. Finally, Rehmann Capital Advisory Group purchased a new stake in shares of Ardelyx in the 4th quarter valued at approximately $51,000. 58.92% of the stock is owned by institutional investors and hedge funds.

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.