Ardelyx, Inc. (NASDAQ:ARDX) Insider Sells $333,574.15 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider Laura A. Williams sold 39,949 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $8.35, for a total transaction of $333,574.15. Following the completion of the transaction, the insider now owns 370,189 shares of the company’s stock, valued at $3,091,078.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Ardelyx Stock Performance

Ardelyx stock traded up $0.16 on Tuesday, hitting $9.31. The company’s stock had a trading volume of 4,871,358 shares, compared to its average volume of 6,302,973. The company has a current ratio of 4.53, a quick ratio of 4.36 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average price of $7.67 and a 200-day moving average price of $6.87. Ardelyx, Inc. has a one year low of $3.16 and a one year high of $10.13.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.02. The firm had revenue of $46.00 million for the quarter, compared to analyst estimates of $36.40 million. Ardelyx had a negative net margin of 41.36% and a negative return on equity of 41.65%. The business’s revenue for the quarter was up 303.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.13) EPS. Equities analysts predict that Ardelyx, Inc. will post -0.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ARDX. Wedbush increased their price target on shares of Ardelyx from $14.00 to $15.00 and gave the stock an “outperform” rating in a research report on Friday. SVB Leerink initiated coverage on shares of Ardelyx in a research report on Friday, April 5th. They issued an “outperform” rating and a $14.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Ardelyx in a research report on Friday, January 12th. Leerink Partnrs reissued an “outperform” rating on shares of Ardelyx in a research report on Friday, April 5th. Finally, Raymond James lifted their price target on shares of Ardelyx from $12.00 to $15.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.81.

Institutional Investors Weigh In On Ardelyx

Several large investors have recently made changes to their positions in ARDX. HighMark Wealth Management LLC bought a new stake in shares of Ardelyx in the 1st quarter worth about $36,000. SJS Investment Consulting Inc. bought a new stake in shares of Ardelyx in the 4th quarter worth about $62,000. Sherbrooke Park Advisers LLC bought a new stake in shares of Ardelyx in the 3rd quarter worth about $63,000. Jump Financial LLC bought a new stake in shares of Ardelyx in the 4th quarter worth about $63,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Ardelyx in the 1st quarter worth about $64,000. Institutional investors own 58.92% of the company’s stock.

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.