Ardelyx, Inc. (NASDAQ:ARDX) Receives $10.95 Average PT from Brokerages

Shares of Ardelyx, Inc. (NASDAQ:ARDX) have been given a consensus recommendation of “Buy” by the twelve research firms that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $10.95.

ARDX has been the subject of several recent analyst reports. Raymond James restated a “strong-buy” rating and set a $13.00 target price (down previously from $15.00) on shares of Ardelyx in a research note on Friday, February 21st. Jefferies Financial Group lowered their price objective on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Piper Sandler raised Ardelyx to a “hold” rating in a report on Wednesday, March 12th. LADENBURG THALM/SH SH reaffirmed a “buy” rating and issued a $11.00 target price on shares of Ardelyx in a report on Friday, March 7th. Finally, BTIG Research initiated coverage on Ardelyx in a research report on Tuesday, March 4th. They set a “buy” rating and a $14.00 price objective for the company.

Insider Transactions at Ardelyx

In other news, Director David M. Mott acquired 199,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were bought at an average price of $4.99 per share, for a total transaction of $993,010.00. Following the completion of the purchase, the director now directly owns 1,937,765 shares of the company’s stock, valued at approximately $9,669,447.35. This trade represents a 11.44 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Justin A. Renz sold 5,171 shares of the business’s stock in a transaction dated 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 approximately $1,607,140.16. This trade represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 158,076 shares of company stock valued at $853,804 over the last 90 days. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Ardelyx

Institutional investors and hedge funds have recently made changes to their positions in the company. GF Fund Management CO. LTD. bought a new position in Ardelyx in the fourth quarter worth about $25,000. Newbridge Financial Services Group Inc. acquired a new position in Ardelyx during the 4th quarter valued at about $35,000. SBI Securities Co. Ltd. bought a new stake in shares of Ardelyx during the 4th quarter worth about $41,000. Quarry LP acquired a new stake in shares of Ardelyx in the 4th quarter worth approximately $51,000. Finally, Rehmann Capital Advisory Group acquired a new position in shares of Ardelyx during the 4th quarter valued at $51,000. 58.92% of the stock is owned by institutional investors and hedge funds.

Ardelyx Price Performance

Ardelyx stock opened at $5.04 on Friday. The company has a quick ratio of 4.31, a current ratio of 4.58 and a debt-to-equity ratio of 0.87. Ardelyx has a 52-week low of $4.32 and a 52-week high of $9.33. The firm has a market cap of $1.20 billion, a PE ratio of -31.50 and a beta of 0.87. The company’s 50 day moving average is $5.40 and its two-hundred day moving average is $5.53.

Ardelyx (NASDAQ:ARDX) last issued its earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. The firm had revenue of $116.13 million for the quarter, compared to analysts’ expectations of $111.16 million. Ardelyx had a negative net margin of 11.73% and a negative return on equity of 24.87%. On average, research analysts expect that Ardelyx will post -0.18 EPS for the current fiscal year.

Ardelyx Company Profile

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.