Wedbush Increases Ardelyx (NASDAQ:ARDX) Price Target to $15.00

Ardelyx (NASDAQ:ARDX) had its price target boosted by research analysts at Wedbush from $14.00 to $15.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the biopharmaceutical company’s stock. Wedbush’s target price would suggest a potential upside of 72.02% from the company’s current price. Wedbush also issued estimates for Ardelyx’s Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.13 EPS, Q4 2025 earnings at $0.17 EPS, FY2025 earnings at $0.37 EPS, FY2026 earnings at $1.01 EPS, FY2027 earnings at $1.44 EPS and FY2028 earnings at $1.87 EPS.

ARDX has been the subject of several other research reports. Raymond James raised 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. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ardelyx in a report on Friday, January 12th. Citigroup lifted their price objective on Ardelyx from $9.00 to $14.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. StockNews.com cut shares of Ardelyx from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. Finally, Leerink Partnrs reaffirmed an “outperform” rating on shares of Ardelyx in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Ardelyx presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.81.

Ardelyx Stock Up 28.4 %

Shares of NASDAQ:ARDX opened at $8.72 on Friday. The company has a current ratio of 4.88, a quick ratio of 4.64 and a debt-to-equity ratio of 0.30. The stock has a fifty day simple moving average of $7.67 and a two-hundred day simple moving average of $6.81. Ardelyx has a 12-month low of $3.16 and a 12-month high of $10.13. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -31.14 and a beta of 0.87.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02. The firm had revenue of $46.00 million during the quarter, compared to analyst estimates of $36.40 million. Ardelyx had a negative return on equity of 41.03% and a negative net margin of 41.36%. Ardelyx’s quarterly revenue was up 303.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.13) EPS. On average, research analysts anticipate that Ardelyx will post -0.44 earnings per share for the current fiscal year.

Insider Buying and Selling at Ardelyx

In other news, 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 completion of the sale, the insider now owns 384,002 shares of the company’s stock, valued at approximately $3,525,138.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Ardelyx news, insider David P. Rosenbaum sold 5,183 shares of Ardelyx stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $9.20, for a total transaction of $47,683.60. Following the transaction, the insider now owns 175,936 shares of the company’s stock, valued at $1,618,611.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David P. Rosenbaum sold 15,344 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $9.18, for a total transaction of $140,857.92. Following the completion of the sale, the insider now directly owns 384,002 shares of the company’s stock, valued at $3,525,138.36. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 178,820 shares of company stock valued at $1,400,524. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. HighMark Wealth Management LLC purchased a new position in shares of Ardelyx in the first quarter valued at about $36,000. Newbridge Financial Services Group Inc. purchased a new position in Ardelyx in the 1st quarter worth approximately $64,000. Willis Johnson & Associates Inc. bought a new position in Ardelyx in the 3rd quarter worth approximately $41,000. SJS Investment Consulting Inc. purchased a new stake in Ardelyx during the 4th quarter valued at approximately $62,000. Finally, Jump Financial LLC bought a new stake in shares of Ardelyx during the fourth quarter valued at approximately $63,000. Institutional investors own 58.92% of the company’s stock.

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.