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

Ardelyx, Inc. (NASDAQ:ARDX) has been assigned a consensus rating of “Buy” from the twelve ratings firms that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, nine have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $14.3636.

ARDX has been the topic of a number of analyst reports. TD Cowen reaffirmed a “buy” rating on shares of Ardelyx in a research note on Thursday, January 29th. Citigroup boosted their target price on shares of Ardelyx from $11.00 to $14.00 and gave the company a “buy” rating in a report on Friday, January 9th. BTIG Research reaffirmed a “buy” rating and set a $17.00 price target on shares of Ardelyx in a research report on Thursday, January 29th. Raymond James Financial reissued a “strong-buy” rating and issued a $19.00 price objective on shares of Ardelyx in a research report on Thursday, January 8th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Ardelyx in a research report on Wednesday, January 21st.

Insiders Place Their Bets

In other Ardelyx news, insider Laura A. Williams sold 50,000 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $6.98, for a total transaction of $349,000.00. Following the transaction, the insider directly owned 361,563 shares in the company, valued at approximately $2,523,709.74. This represents a 12.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Elizabeth A. Grammer sold 5,995 shares of Ardelyx stock in a transaction on Friday, November 21st. The shares were sold at an average price of $5.54, for a total transaction of $33,212.30. Following the completion of the sale, the insider owned 299,895 shares of the company’s stock, valued at $1,661,418.30. This represents a 1.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 114,868 shares of company stock valued at $708,369 over the last 90 days. 4.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ardelyx

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. increased its position in Ardelyx by 26.7% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,807 shares of the biopharmaceutical company’s stock valued at $69,000 after buying an additional 2,491 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Ardelyx by 0.7% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 347,609 shares of the biopharmaceutical company’s stock worth $2,027,000 after acquiring an additional 2,532 shares in the last quarter. Merit Financial Group LLC grew its stake in Ardelyx by 12.0% in the third quarter. Merit Financial Group LLC now owns 23,680 shares of the biopharmaceutical company’s stock valued at $130,000 after acquiring an additional 2,537 shares during the period. Brighton Jones LLC increased its holdings in shares of Ardelyx by 25.1% during the third quarter. Brighton Jones LLC now owns 12,701 shares of the biopharmaceutical company’s stock valued at $70,000 after acquiring an additional 2,550 shares in the last quarter. Finally, Savant Capital LLC raised its position in shares of Ardelyx by 7.1% during the second quarter. Savant Capital LLC now owns 39,386 shares of the biopharmaceutical company’s stock worth $154,000 after purchasing an additional 2,610 shares during the period. Institutional investors own 58.92% of the company’s stock.

Ardelyx Trading Up 0.1%

Shares of ARDX stock opened at $7.33 on Tuesday. The stock has a 50-day moving average of $6.60 and a 200-day moving average of $5.97. 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 stock has a market cap of $1.78 billion, a price-to-earnings ratio of -31.87 and a beta of 0.57. Ardelyx has a 1-year low of $3.21 and a 1-year high of $8.40.

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.