Ardelyx, Inc. (NASDAQ:ARDX – Get Free Report) CEO Michael Raab sold 30,000 shares of the stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $6.40, for a total value of $192,000.00. Following the completion of the transaction, the chief executive officer now owns 1,310,933 shares of the company’s stock, valued at $8,389,971.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Michael Raab also recently made the following trade(s):
- On Monday, April 15th, Michael Raab sold 7,500 shares of Ardelyx stock. The stock was sold at an average price of $7.06, for a total value of $52,950.00.
- On Monday, April 1st, Michael Raab sold 1,518 shares of Ardelyx stock. The shares were sold at an average price of $7.31, for a total transaction of $11,096.58.
- 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 transaction of $200,523.75.
Ardelyx Stock Performance
Shares of Ardelyx stock opened at $6.61 on Thursday. The business has a 50-day simple moving average of $7.71 and a 200-day simple moving average of $6.75. 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 company has a market cap of $1.54 billion, a PE ratio of -22.03 and a beta of 0.85.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on ARDX shares. Citigroup increased their price objective 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. Raymond James lifted their price objective on Ardelyx from $12.00 to $15.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 9th. Piper Sandler increased their target price on Ardelyx from $12.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. SVB Leerink began coverage on Ardelyx in a report on Friday, April 5th. They set an “outperform” rating and a $14.00 target price for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Ardelyx in a research note on Friday, January 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.69.
Check Out Our Latest Report on ARDX
Hedge Funds Weigh In On Ardelyx
Institutional investors and hedge funds have recently modified their holdings of the company. HighMark Wealth Management LLC purchased a new stake in Ardelyx during the 1st quarter worth about $36,000. Willis Johnson & Associates Inc. acquired a new stake in shares of Ardelyx during the 3rd quarter worth about $41,000. SJS Investment Consulting Inc. acquired a new stake in shares of Ardelyx during the 4th quarter worth about $62,000. Sherbrooke Park Advisers LLC purchased a new stake in Ardelyx during the third quarter worth approximately $63,000. Finally, Jump Financial LLC acquired a new position in Ardelyx in the fourth quarter valued at approximately $63,000. Institutional investors and hedge funds own 58.92% of the company’s stock.
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.
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