Ardelyx, Inc. (NASDAQ:ARDX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Ardelyx, Inc. (NASDAQ:ARDX) has been assigned an average recommendation of “Moderate Buy” from the eight research firms that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $10.42.

A number of brokerages recently commented on ARDX. HC Wainwright lowered Ardelyx from a “buy” rating to a “neutral” rating and dropped their target price for the company from $11.00 to $5.50 in a research report on Monday, November 11th. Citigroup dropped their price objective on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 4th.

Ardelyx Stock Up 0.9 %

Shares of ARDX stock opened at $5.32 on Thursday. The stock’s fifty day moving average price is $5.63 and its 200 day moving average price is $5.93. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87. Ardelyx has a 1-year low of $4.34 and a 1-year high of $10.13. The company has a market cap of $1.26 billion, a price-to-earnings ratio of -17.73 and a beta of 0.83.

Insider Transactions at Ardelyx

In related news, CEO Michael Raab sold 25,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $5.38, for a total value of $134,500.00. Following the transaction, the chief executive officer now directly owns 1,150,385 shares of the company’s stock, valued at approximately $6,189,071.30. This trade represents a 2.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David P. Rosenbaum sold 49,564 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $6.92, for a total value of $342,982.88. Following the sale, the insider now owns 301,946 shares of the company’s stock, valued at approximately $2,089,466.32. This trade represents a 14.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 217,068 shares of company stock valued at $1,276,291 in the last ninety days. 5.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Ardelyx

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARDX. Nisa Investment Advisors LLC grew its holdings in shares of Ardelyx by 1,026.3% in the second quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 3,233 shares during the period. Redwood Wealth Management Group LLC acquired a new position in Ardelyx in the 2nd quarter valued at about $62,000. Coastal Bridge Advisors LLC purchased a new stake in shares of Ardelyx in the 2nd quarter valued at approximately $74,000. Helen Stephens Group LLC purchased a new stake in shares of Ardelyx during the 3rd quarter valued at approximately $76,000. Finally, CWM LLC lifted its holdings in Ardelyx by 328.1% in the third quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock valued at $88,000 after acquiring an additional 9,821 shares during the last quarter. Institutional investors and hedge funds own 58.92% of the company’s stock.

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.