Ardelyx (NASDAQ:ARDX) Price Target Raised to $15.00 at Wedbush

Ardelyx (NASDAQ:ARDX) had its price objective boosted by analysts at Wedbush from $14.00 to $15.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the biopharmaceutical company’s stock. Wedbush’s price objective points to a potential upside of 72.02% from the company’s previous close. Wedbush also issued estimates for Ardelyx’s Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.13 EPS, Q4 2025 earnings at $0.17 EPS, FY2025 earnings at $0.37 EPS, FY2026 earnings at $1.01 EPS, FY2027 earnings at $1.44 EPS and FY2028 earnings at $1.87 EPS.

Several other research analysts have also recently weighed in on the company. Citigroup lifted their price target on Ardelyx from $9.00 to $14.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Piper Sandler boosted their target price on shares of Ardelyx from $12.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. SVB Leerink initiated coverage on shares of Ardelyx in a research report on Friday, April 5th. They set an “outperform” rating and a $14.00 price target on the stock. StockNews.com downgraded shares of Ardelyx from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Finally, Raymond James increased their target price on shares of Ardelyx from $12.00 to $15.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.81.

Ardelyx Stock Performance

Shares of NASDAQ ARDX opened at $8.72 on Friday. The company has a 50 day simple moving average of $7.67 and a two-hundred day simple moving average of $6.81. The stock has a market cap of $2.04 billion, a price-to-earnings ratio of -31.14 and a beta of 0.87. The company has a current ratio of 4.88, a quick ratio of 4.64 and a debt-to-equity ratio of 0.30. Ardelyx has a 12 month low of $3.16 and a 12 month high of $10.13.

Ardelyx (NASDAQ:ARDX) last posted its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The company had revenue of $46.00 million during the quarter, compared to the consensus estimate of $36.40 million. Ardelyx had a negative net margin of 41.36% and a negative return on equity of 41.03%. The firm’s quarterly revenue was up 303.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.13) earnings per share. As a group, analysts predict that Ardelyx will post -0.44 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Michael Raab sold 30,000 shares of Ardelyx stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $6.40, for a total value of $192,000.00. Following the sale, the chief executive officer now directly owns 1,310,933 shares of the company’s stock, valued at $8,389,971.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Michael Raab sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $6.40, for a total transaction of $192,000.00. Following the transaction, the chief executive officer now directly owns 1,310,933 shares in the company, valued at approximately $8,389,971.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Robert Blanks sold 5,017 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $8.75, for a total value of $43,898.75. Following the completion of the sale, the insider now directly owns 368,186 shares of the company’s stock, valued at $3,221,627.50. The disclosure for this sale can be found here. Insiders sold a total of 178,820 shares of company stock worth $1,400,524 in the last 90 days. Insiders own 5.50% of the company’s stock.

Hedge Funds Weigh In On Ardelyx

Several large investors have recently modified their holdings of the business. Principal Financial Group Inc. boosted its stake in Ardelyx by 347.4% during the first quarter. Principal Financial Group Inc. now owns 122,811 shares of the biopharmaceutical company’s stock worth $897,000 after buying an additional 95,361 shares during the period. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Ardelyx by 66.7% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 44,754 shares of the biopharmaceutical company’s stock worth $327,000 after acquiring an additional 17,903 shares during the last quarter. HighMark Wealth Management LLC purchased a new position in shares of Ardelyx during the 1st quarter worth approximately $36,000. Newbridge Financial Services Group Inc. acquired a new stake in Ardelyx in the 1st quarter valued at approximately $64,000. Finally, Hennion & Walsh Asset Management Inc. raised its position in Ardelyx by 37.2% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 438,827 shares of the biopharmaceutical company’s stock valued at $3,203,000 after purchasing an additional 118,879 shares during the period. Institutional investors and hedge funds 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.