Ardelyx (NASDAQ:ARDX) Lowered to “Sell” at StockNews.com

Ardelyx (NASDAQ:ARDXGet Free Report) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

Several other equities analysts also recently weighed in on the company. Piper Sandler boosted their target price on Ardelyx from $12.00 to $15.00 and gave the company an “overweight” rating in a research report on Friday, February 23rd. Leerink Partnrs reaffirmed an “outperform” rating on shares of Ardelyx in a research report on Friday, April 5th. Wedbush upped their price objective on Ardelyx from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. SVB Leerink started coverage on Ardelyx in a research report on Friday, April 5th. They issued an “outperform” rating and a $14.00 price objective on the stock. Finally, Citigroup upped their price objective on Ardelyx from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.81.

View Our Latest Stock Analysis on ARDX

Ardelyx Stock Up 1.5 %

Shares of ARDX opened at $7.93 on Tuesday. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of -28.32 and a beta of 0.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.53 and a quick ratio of 4.36. The business’s 50 day simple moving average is $7.45 and its 200-day simple moving average is $7.18. Ardelyx has a 1 year low of $3.16 and a 1 year high of $10.13.

Ardelyx (NASDAQ:ARDXGet Free Report) last released its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02. The firm had revenue of $46.00 million for the quarter, compared to the consensus estimate of $36.40 million. Ardelyx had a negative return on equity of 41.65% and a negative net margin of 41.36%. The company’s revenue for the quarter was up 303.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.13) EPS. As a group, equities analysts expect that Ardelyx will post -0.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider David P. Rosenbaum sold 5,183 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $9.20, for a total transaction of $47,683.60. Following the completion of the sale, the insider now directly owns 175,936 shares in the company, valued at approximately $1,618,611.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Ardelyx news, insider David P. Rosenbaum sold 5,183 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $9.20, for a total value of $47,683.60. Following the completion of the sale, the insider now directly owns 175,936 shares in the company, valued at $1,618,611.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael Raab sold 7,500 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $7.06, for a total value of $52,950.00. Following the completion of the sale, the chief executive officer now owns 1,310,933 shares of the company’s stock, valued at $9,255,186.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 381,138 shares of company stock worth $3,158,429. 5.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Ardelyx

Several hedge funds and other institutional investors have recently made changes to their positions in ARDX. Vanguard Group Inc. lifted its position in Ardelyx by 2.8% during the first quarter. Vanguard Group Inc. now owns 13,391,855 shares of the biopharmaceutical company’s stock worth $97,761,000 after buying an additional 365,809 shares in the last quarter. Eventide Asset Management LLC increased its stake in Ardelyx by 152.5% during the fourth quarter. Eventide Asset Management LLC now owns 6,805,494 shares of the biopharmaceutical company’s stock worth $42,194,000 after acquiring an additional 4,110,494 shares during the last quarter. Rubric Capital Management LP increased its stake in Ardelyx by 60.5% during the fourth quarter. Rubric Capital Management LP now owns 4,012,753 shares of the biopharmaceutical company’s stock worth $24,879,000 after acquiring an additional 1,512,753 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Ardelyx by 68.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,913,863 shares of the biopharmaceutical company’s stock valued at $28,572,000 after buying an additional 1,584,597 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Ardelyx in the third quarter valued at $9,384,000. Hedge funds and other institutional investors own 58.92% of the company’s stock.

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.

Read More

Analyst Recommendations for Ardelyx (NASDAQ:ARDX)

Receive News & Ratings for Ardelyx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ardelyx and related companies with MarketBeat.com's FREE daily email newsletter.