Mackenzie Financial Corp Purchases 9,025 Shares of Ardelyx, Inc. (NASDAQ:ARDX)

Mackenzie Financial Corp boosted its position in Ardelyx, Inc. (NASDAQ:ARDX) by 6.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 149,158 shares of the biopharmaceutical company’s stock after purchasing an additional 9,025 shares during the quarter. Mackenzie Financial Corp owned about 0.06% of Ardelyx worth $732,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Ardelyx by 5.6% in the 4th quarter. Vanguard Group Inc. now owns 14,362,659 shares of the biopharmaceutical company’s stock valued at $72,819,000 after purchasing an additional 767,111 shares during the period. Two Sigma Advisers LP lifted its position in shares of Ardelyx by 206.7% during the 4th quarter. Two Sigma Advisers LP now owns 593,700 shares of the biopharmaceutical company’s stock valued at $3,010,000 after acquiring an additional 400,100 shares during the period. SG Americas Securities LLC lifted its position in shares of Ardelyx by 203.1% during the 1st quarter. SG Americas Securities LLC now owns 166,343 shares of the biopharmaceutical company’s stock valued at $817,000 after acquiring an additional 111,457 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Ardelyx by 32.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 578,256 shares of the biopharmaceutical company’s stock valued at $2,932,000 after acquiring an additional 142,294 shares during the period. Finally, Janus Henderson Group PLC lifted its position in shares of Ardelyx by 13.3% during the 4th quarter. Janus Henderson Group PLC now owns 24,387,941 shares of the biopharmaceutical company’s stock valued at $123,587,000 after acquiring an additional 2,858,061 shares during the period. 58.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. UBS Group set a $12.00 target price on Ardelyx in a research report on Tuesday. Raymond James Financial reissued an “outperform” rating and set a $12.00 price target (up previously from $11.00) on shares of Ardelyx in a report on Tuesday. Citigroup lowered their price target on Ardelyx from $11.00 to $10.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Piper Sandler boosted their price target on Ardelyx from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, HC Wainwright began coverage on Ardelyx in a report on Wednesday, June 18th. They set a “buy” rating and a $10.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold 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 has a consensus rating of “Moderate Buy” and a consensus target price of $11.50.

Insider Buying and Selling at Ardelyx

In related news, insider Mike Kelliher sold 14,522 shares of Ardelyx stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $4.08, for a total transaction of $59,249.76. Following the sale, the insider directly owned 282,158 shares in the company, valued at approximately $1,151,204.64. This trade represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director David M. Mott purchased 200,000 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The shares were acquired at an average price of $3.63 per share, for a total transaction of $726,000.00. Following the completion of the acquisition, the director directly owned 2,896,871 shares of the company’s stock, valued at $10,515,641.73. This trade represents a 7.42% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 500,000 shares of company stock valued at $1,793,000 and sold 83,477 shares valued at $340,586. 4.80% of the stock is owned by insiders.

Ardelyx Stock Up 1.4%

Shares of NASDAQ:ARDX opened at $5.20 on Thursday. Ardelyx, Inc. has a 52-week low of $3.21 and a 52-week high of $7.18. The company has a debt-to-equity ratio of 1.44, a quick ratio of 3.81 and a current ratio of 4.30. The business’s 50 day simple moving average is $4.08 and its two-hundred day simple moving average is $4.63. The firm has a market cap of $1.25 billion, a P/E ratio of -22.61 and a beta of 0.68.

Ardelyx (NASDAQ:ARDX) last posted its earnings results on Monday, August 4th. The biopharmaceutical company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.05. The company had revenue of $97.66 million for the quarter, compared to analyst estimates of $82.69 million. Ardelyx had a negative return on equity of 36.57% and a negative net margin of 14.60%. The company’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.07) earnings per share. As a group, research analysts forecast that Ardelyx, Inc. will post -0.18 EPS for the current fiscal year.

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.