Ardelyx (NASDAQ:ARDX) Posts Quarterly Earnings Results, Hits Expectations

Ardelyx (NASDAQ:ARDX) released its quarterly earnings results on Thursday. The biopharmaceutical company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02, Zacks reports. Ardelyx had a negative net margin of 28.82% and a negative return on equity of 46.60%.

Ardelyx Trading Down 10.1 %

Shares of NASDAQ:ARDX opened at $5.72 on Friday. The stock has a 50 day moving average of $5.29 and a 200 day moving average of $5.64. The company has a market cap of $1.35 billion, a PE ratio of -19.07 and a beta of 0.85. The company has a current ratio of 4.03, a quick ratio of 3.87 and a debt-to-equity ratio of 0.64. Ardelyx has a 12-month low of $4.32 and a 12-month high of $9.83.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ARDX shares. Piper Sandler upped their price target on shares of Ardelyx from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. HC Wainwright reaffirmed a “neutral” rating and set a $5.50 price target on shares of Ardelyx in a research report on Friday. Cantor Fitzgerald raised shares of Ardelyx to a “strong-buy” rating in a research report on Thursday, January 30th. Citigroup reduced their price target on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Jefferies Financial Group reduced their price target on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Ardelyx currently has an average rating of “Moderate Buy” and an average price target of $9.42.

Insider Activity at Ardelyx

In other Ardelyx news, Director David M. Mott purchased 199,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was acquired at an average cost of $4.99 per share, for a total transaction of $993,010.00. Following the purchase, the director now directly owns 1,937,765 shares of the company’s stock, valued at $9,669,447.35. This trade represents a 11.44 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Raab sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $5.26, for a total value of $131,500.00. Following the completion of the transaction, the chief executive officer now owns 1,150,385 shares of the company’s stock, valued at $6,051,025.10. The trade was a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 133,332 shares of company stock worth $710,576. 5.90% of the stock is owned by company insiders.

Ardelyx Company Profile

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.