Laura A. Williams Sells 39,949 Shares of Ardelyx, Inc. (NASDAQ:ARDX) 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 shares were sold at an average price of $8.35, for a total transaction of $333,574.15. Following the sale, the insider now owns 370,189 shares of the company’s stock, valued at $3,091,078.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Ardelyx Price Performance

Shares of NASDAQ:ARDX opened at $8.48 on Thursday. The company has a quick ratio of 4.36, a current ratio of 4.53 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $1.98 billion, a PE ratio of -30.29 and a beta of 0.87. The firm’s 50 day moving average price is $7.64 and its 200-day moving average price is $6.92. Ardelyx, Inc. has a twelve month low of $3.16 and a twelve month high of $10.13.

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

Hedge Funds Weigh In On Ardelyx

Hedge funds have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. lifted its holdings in Ardelyx by 37.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 57,425 shares of the biopharmaceutical company’s stock worth $234,000 after purchasing an additional 15,554 shares in the last quarter. Inspire Investing LLC purchased a new stake in shares of Ardelyx in the third quarter worth about $307,000. TD Asset Management Inc increased its position in Ardelyx by 100.0% in the third quarter. TD Asset Management Inc now owns 273,600 shares of the biopharmaceutical company’s stock worth $1,116,000 after purchasing an additional 136,800 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Ardelyx by 326.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 133,067 shares of the biopharmaceutical company’s stock valued at $543,000 after purchasing an additional 101,850 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Ardelyx by 89.5% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 162,639 shares of the biopharmaceutical company’s stock worth $664,000 after buying an additional 76,815 shares during the last quarter. 58.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ARDX shares. Citigroup boosted their price objective on shares of Ardelyx from $13.00 to $14.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. SVB Leerink assumed coverage on Ardelyx in a research report on Friday, April 5th. They set an “outperform” rating and a $14.00 price objective on the stock. StockNews.com downgraded Ardelyx from a “hold” rating to a “sell” rating in a report on Monday, February 26th. Wedbush upped their target price on shares of Ardelyx from $14.00 to $15.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Finally, Piper Sandler lifted their price target on shares of Ardelyx from $12.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $12.81.

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.