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

Ardelyx, Inc. (NASDAQ:ARDX) CFO Justin A. Renz sold 5,171 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $5.62, for a total transaction of $29,061.02. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Ardelyx Stock Performance

Shares of Ardelyx stock opened at $5.06 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.87 and a current ratio of 4.03. Ardelyx, Inc. has a 1 year low of $4.32 and a 1 year high of $9.83. The firm’s 50-day simple moving average is $5.30 and its 200-day simple moving average is $5.63. The firm has a market cap of $1.20 billion, a PE ratio of -31.59 and a beta of 0.85.

Ardelyx (NASDAQ:ARDX) last released 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 firm had revenue of $116.13 million during the quarter, compared to the consensus estimate of $111.16 million. Ardelyx had a negative net margin of 11.73% and a negative return on equity of 25.74%. Equities analysts forecast that Ardelyx, Inc. will post -0.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ardelyx

Institutional investors have recently modified their holdings of the business. 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 worth $88,000 after acquiring an additional 9,821 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Ardelyx by 9.5% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 643,912 shares of the biopharmaceutical company’s stock worth $4,437,000 after purchasing an additional 55,720 shares during the last quarter. Values First Advisors Inc. boosted its position in Ardelyx by 14.6% during the 3rd quarter. Values First Advisors Inc. now owns 46,282 shares of the biopharmaceutical company’s stock valued at $319,000 after purchasing an additional 5,890 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Ardelyx by 34.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 28,365 shares of the biopharmaceutical company’s stock worth $195,000 after buying an additional 7,245 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its position in Ardelyx by 64.7% in the third quarter. China Universal Asset Management Co. Ltd. now owns 45,280 shares of the biopharmaceutical company’s stock worth $312,000 after buying an additional 17,792 shares during the period. Institutional investors own 58.92% of the company’s stock.

Wall Street Analyst Weigh In

ARDX has been the subject of several research analyst reports. Cantor Fitzgerald raised Ardelyx to a “strong-buy” rating in a research note on Thursday, January 30th. Raymond James restated a “strong-buy” rating and issued a $13.00 price target (down previously from $15.00) on shares of Ardelyx in a research report on Friday. HC Wainwright reiterated a “neutral” rating and issued a $5.50 price objective on shares of Ardelyx in a research report on Friday. Piper Sandler increased their price objective on shares of Ardelyx from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Finally, Jefferies Financial Group cut their target price on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Ardelyx currently has an average rating of “Moderate Buy” and a consensus target price of $9.93.

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.