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

Ardelyx, Inc. (NASDAQ:ARDX) has been assigned a consensus rating of “Moderate Buy” from the thirteen brokerages that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, eight have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $11.7273.

ARDX has been the subject of several research reports. Wedbush downgraded Ardelyx from an “outperform” rating to a “hold” rating in a research note on Tuesday, November 25th. Piper Sandler increased their price target on shares of Ardelyx from $9.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, November 4th. TD Cowen raised their price objective on shares of Ardelyx from $9.00 to $10.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Citigroup upped their target price on Ardelyx from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Ardelyx in a report on Tuesday, November 25th.

Insider Buying and Selling

In related news, CEO Michael Raab sold 46,887 shares of Ardelyx stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $5.54, for a total transaction of $259,753.98. Following the completion of the sale, the chief executive officer owned 1,455,363 shares in the company, valued at approximately $8,062,711.02. This trade represents a 3.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Laura A. Williams sold 6,426 shares of Ardelyx stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $5.54, for a total transaction of $35,600.04. Following the sale, the insider owned 359,896 shares of the company’s stock, valued at approximately $1,993,823.84. This trade represents a 1.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 64,868 shares of company stock worth $359,369. 4.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ardelyx

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in Ardelyx by 4.4% in the first quarter. Vanguard Group Inc. now owns 14,997,234 shares of the biopharmaceutical company’s stock valued at $73,636,000 after purchasing an additional 634,575 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Ardelyx by 1.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,067,528 shares of the biopharmaceutical company’s stock valued at $10,152,000 after purchasing an additional 32,393 shares during the last quarter. Invesco Ltd. grew its stake in shares of Ardelyx by 42.1% during the 1st quarter. Invesco Ltd. now owns 177,529 shares of the biopharmaceutical company’s stock valued at $872,000 after buying an additional 52,584 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Ardelyx by 517.3% during the 1st quarter. Russell Investments Group Ltd. now owns 66,472 shares of the biopharmaceutical company’s stock worth $326,000 after buying an additional 55,704 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Ardelyx by 1.0% during the 1st quarter. Northern Trust Corp now owns 2,172,819 shares of the biopharmaceutical company’s stock worth $10,669,000 after buying an additional 21,845 shares during the last quarter. Institutional investors and hedge funds own 58.92% of the company’s stock.

Ardelyx Stock Performance

Shares of ARDX opened at $5.68 on Monday. Ardelyx has a twelve month low of $3.21 and a twelve month high of $6.78. The company has a current ratio of 4.41, a quick ratio of 4.11 and a debt-to-equity ratio of 1.31. The firm has a market capitalization of $1.38 billion, a P/E ratio of -24.69 and a beta of 0.55. The firm’s 50-day moving average is $5.61 and its two-hundred day moving average is $5.25.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported $0.00 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.06. Ardelyx had a negative return on equity of 36.91% and a negative net margin of 14.20%.The business had revenue of $110.33 million for the quarter, compared to analyst estimates of $100.44 million. The company’s revenue for the quarter was up 14.6% compared to the same quarter last year. On average, research analysts predict that Ardelyx will post -0.18 earnings per share for the current fiscal year.

About Ardelyx

Ardelyx, Inc (NASDAQ: ARDX) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing targeted small molecule drugs for cardio‐renal and gastrointestinal diseases. The company’s lead marketed product, tenapanor (sold under the brand name XPHOZAH in the United States), is approved for the treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis. Ardelyx’s proprietary approach targets epithelial transporters in the gastrointestinal tract, offering localized activity with limited systemic exposure.

Beyond tenapanor, Ardelyx’s development pipeline includes treatments designed to address other complications in kidney disease and related metabolic disorders.