Ardelyx, Inc. (NASDAQ:ARDX) Insider David P. Rosenbaum Sells 15,344 Shares

Ardelyx, Inc. (NASDAQ:ARDXGet Free Report) insider David P. Rosenbaum sold 15,344 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $9.18, for a total transaction of $140,857.92. Following the transaction, the insider now owns 384,002 shares of the company’s stock, valued at $3,525,138.36. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Ardelyx Stock Performance

Ardelyx stock opened at $9.74 on Friday. The company has a current ratio of 5.54, a quick ratio of 5.35 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average of $7.39 and a 200-day moving average of $5.17. The firm has a market cap of $2.26 billion, a P/E ratio of -81.17 and a beta of 0.92. Ardelyx, Inc. has a 1-year low of $2.82 and a 1-year high of $9.85.

Institutional Trading of Ardelyx

A number of institutional investors have recently modified their holdings of the company. Orion Portfolio Solutions LLC purchased a new stake in shares of Ardelyx during the fourth quarter worth about $71,000. UBS Group AG lifted its holdings in Ardelyx by 169.2% in the fourth quarter. UBS Group AG now owns 598,650 shares of the biopharmaceutical company’s stock worth $3,712,000 after buying an additional 376,294 shares during the period. Principal Financial Group Inc. lifted its holdings in Ardelyx by 9.7% in the fourth quarter. Principal Financial Group Inc. now owns 27,450 shares of the biopharmaceutical company’s stock worth $170,000 after buying an additional 2,416 shares during the period. Jump Financial LLC purchased a new stake in Ardelyx in the fourth quarter worth about $63,000. Finally, BNP Paribas Financial Markets lifted its holdings in Ardelyx by 156.8% in the fourth quarter. BNP Paribas Financial Markets now owns 644,975 shares of the biopharmaceutical company’s stock worth $3,999,000 after buying an additional 393,801 shares during the period. 58.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Raymond James boosted their price target on shares of Ardelyx from $12.00 to $15.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 9th. Wedbush upped their target price on shares of Ardelyx from $9.00 to $13.00 and gave the stock an “outperform” rating in a research report on Friday, January 12th. Citigroup upped their target price on shares of Ardelyx from $9.00 to $14.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. HC Wainwright upped their target price on shares of Ardelyx from $9.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Ardelyx in a research report on Friday, January 12th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ardelyx has an average rating of “Buy” and an average price target of $11.92.

Read Our Latest Stock Report on ARDX

Ardelyx Company Profile

(Get Free Report)

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.

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