Ardelyx, Inc. (NASDAQ:ARDX) Insider Robert Ora Felsch Sells 207,988 Shares

Ardelyx, Inc. (NASDAQ:ARDX) insider Robert Ora Felsch sold 207,988 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $8.81, for a total transaction of $1,832,374.28. Following the sale, the insider now directly owns 95,947 shares in the company, valued at approximately $845,293.07. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Ardelyx Stock Performance

ARDX opened at $8.06 on Friday. The company has a market cap of $1.89 billion, a price-to-earnings ratio of -28.79 and a beta of 0.87. The firm’s fifty day simple moving average is $7.62 and its two-hundred day simple moving average is $6.93. The company has a quick ratio of 4.36, a current ratio of 4.53 and a debt-to-equity ratio of 0.66. Ardelyx, Inc. has a 52-week low of $3.16 and a 52-week high of $10.13.

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

Wall Street Analyst Weigh In

ARDX has been the subject of a number of research analyst reports. Citigroup raised their target price on Ardelyx from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Leerink Partnrs reissued an “outperform” rating on shares of Ardelyx in a research report on Friday, April 5th. SVB Leerink assumed coverage on shares of Ardelyx in a report on Friday, April 5th. They issued an “outperform” rating and a $14.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Ardelyx in a report on Friday, January 12th. Finally, Piper Sandler increased their price target on Ardelyx from $12.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. One analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $12.81.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ARDX. GSA Capital Partners LLP boosted its holdings in shares of Ardelyx by 1,183.6% during the 3rd quarter. GSA Capital Partners LLP now owns 549,695 shares of the biopharmaceutical company’s stock worth $2,243,000 after purchasing an additional 506,872 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in Ardelyx in the 3rd quarter valued at $320,000. Charles Schwab Investment Management Inc. grew its holdings in Ardelyx by 185.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,666,267 shares of the biopharmaceutical company’s stock valued at $6,798,000 after buying an additional 1,082,554 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Ardelyx by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 11,565,800 shares of the biopharmaceutical company’s stock worth $47,188,000 after acquiring an additional 97,951 shares during the last quarter. Finally, TD Asset Management Inc raised its holdings in shares of Ardelyx by 100.0% during the 3rd quarter. TD Asset Management Inc now owns 273,600 shares of the biopharmaceutical company’s stock worth $1,116,000 after acquiring an additional 136,800 shares during the period. 58.92% of the stock is owned by institutional investors and hedge funds.

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.