Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab Sells 1,518 Shares

Ardelyx, Inc. (NASDAQ:ARDXGet Free Report) CEO Michael Raab sold 1,518 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $7.31, for a total value of $11,096.58. Following the completion of the sale, the chief executive officer now owns 1,318,433 shares in the company, valued at $9,637,745.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Michael Raab also recently made the following trade(s):

  • On Tuesday, February 20th, Michael Raab sold 22,917 shares of Ardelyx stock. The shares were sold at an average price of $8.75, for a total value of $200,523.75.

Ardelyx Stock Performance

Shares of NASDAQ:ARDX opened at $7.34 on Wednesday. The company has a market cap of $1.71 billion, a P/E ratio of -24.47 and a beta of 0.86. The company has a debt-to-equity ratio of 0.30, a quick ratio of 4.64 and a current ratio of 4.88. Ardelyx, Inc. has a one year low of $3.16 and a one year high of $10.13. The business’s 50-day simple moving average is $8.66 and its 200 day simple moving average is $6.35.

Ardelyx (NASDAQ:ARDXGet Free Report) last announced its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The company had revenue of $34.36 million for the quarter, compared to analysts’ expectations of $34.26 million. Ardelyx had a negative net margin of 53.08% and a negative return on equity of 43.57%. The business’s quarterly revenue was down 22.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 earnings per share. On average, sell-side analysts forecast that Ardelyx, Inc. will post -0.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ardelyx

Several hedge funds have recently modified their holdings of the stock. Xponance Inc. raised its holdings in shares of Ardelyx by 12.6% during the 4th quarter. Xponance Inc. now owns 14,112 shares of the biopharmaceutical company’s stock valued at $87,000 after buying an additional 1,575 shares during the period. Mackenzie Financial Corp increased its holdings in Ardelyx by 5.6% during the 4th quarter. Mackenzie Financial Corp now owns 30,269 shares of the biopharmaceutical company’s stock worth $188,000 after purchasing an additional 1,608 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Ardelyx by 9.7% during the 4th quarter. Principal Financial Group Inc. now owns 27,450 shares of the biopharmaceutical company’s stock worth $170,000 after purchasing an additional 2,416 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in Ardelyx by 13.7% during the 1st quarter. Commonwealth Equity Services LLC now owns 24,401 shares of the biopharmaceutical company’s stock worth $116,000 after purchasing an additional 2,939 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in Ardelyx by 5.3% during the 3rd quarter. Arizona State Retirement System now owns 61,064 shares of the biopharmaceutical company’s stock worth $249,000 after purchasing an additional 3,064 shares during the last quarter. 58.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ARDX shares. StockNews.com downgraded Ardelyx from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. Wedbush reiterated an “outperform” rating and issued a $13.00 target price on shares of Ardelyx in a research note on Friday, February 23rd. Piper Sandler upped their price target on Ardelyx from $12.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. Citigroup upped their price target on Ardelyx from $9.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Ardelyx in a research note on Friday, January 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $12.36.

View Our Latest Stock Analysis 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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Insider Buying and Selling by Quarter for Ardelyx (NASDAQ:ARDX)

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