Ardelyx, Inc. (NASDAQ:ARDX) CFO Justin A. Renz Sells 5,171 Shares

Ardelyx, Inc. (NASDAQ:ARDX) CFO Justin A. Renz sold 5,171 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $5.62, for a total value of $29,061.02. Following the completion of the transaction, the chief financial officer now owns 285,968 shares in the company, valued at $1,607,140.16. The trade was a 1.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Ardelyx Trading Down 11.6 %

Shares of Ardelyx stock traded down $0.67 during midday trading on Friday, reaching $5.06. The company had a trading volume of 6,744,975 shares, compared to its average volume of 4,432,597. The stock has a fifty day moving average price of $5.30 and a 200 day moving average price of $5.64. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87. The firm has a market cap of $1.20 billion, a PE ratio of -16.85 and a beta of 0.85. Ardelyx, Inc. has a fifty-two week low of $4.32 and a fifty-two week high of $9.83.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02. The company had revenue of $116.13 million for the quarter, compared to analyst estimates of $111.16 million. Ardelyx had a negative return on equity of 46.60% and a negative net margin of 28.82%. On average, equities analysts anticipate that Ardelyx, Inc. will post -0.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ARDX has been the topic of a number of recent research reports. Raymond James reissued a “strong-buy” rating and set a $13.00 price target (down from $15.00) on shares of Ardelyx in a research note on Friday. Jefferies Financial Group cut their price target on Ardelyx from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Piper Sandler lifted their price target on Ardelyx from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Citigroup cut their price target on Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, HC Wainwright reissued a “neutral” rating and set a $5.50 price target on shares of Ardelyx in a research note on Friday. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Ardelyx currently has an average rating of “Moderate Buy” and a consensus price target of $9.93.

Hedge Funds Weigh In On Ardelyx

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Ardelyx by 1.5% during the 3rd quarter. State Street Corp now owns 12,141,850 shares of the biopharmaceutical company’s stock worth $83,657,000 after buying an additional 176,789 shares in the last quarter. Rubric Capital Management LP boosted its holdings in shares of Ardelyx by 68.5% during the 3rd quarter. Rubric Capital Management LP now owns 3,060,191 shares of the biopharmaceutical company’s stock worth $21,085,000 after buying an additional 1,243,606 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Ardelyx by 274.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 181,387 shares of the biopharmaceutical company’s stock worth $1,250,000 after buying an additional 132,928 shares in the last quarter. Vestal Point Capital LP bought a new position in shares of Ardelyx during the 3rd quarter worth approximately $3,445,000. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Ardelyx by 1.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 387,144 shares of the biopharmaceutical company’s stock worth $2,667,000 after buying an additional 6,093 shares in the last quarter. 58.92% of the stock is owned by institutional investors and hedge funds.

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.