Ardelyx, Inc. (NASDAQ:ARDX) Insider David P. Rosenbaum Sells 17,872 Shares of Stock

Ardelyx, Inc. (NASDAQ:ARDXGet Free Report) insider David P. Rosenbaum sold 17,872 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $7.00, for a total value of $125,104.00. Following the sale, the insider now directly owns 158,502 shares of the company’s stock, valued at $1,109,514. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Ardelyx Price Performance

Shares of NASDAQ:ARDX opened at $7.13 on Thursday. The company has a current ratio of 4.53, a quick ratio of 4.36 and a debt-to-equity ratio of 0.66. Ardelyx, Inc. has a 1 year low of $3.16 and a 1 year high of $10.13. The business has a fifty day simple moving average of $7.24 and a 200 day simple moving average of $7.42. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -25.46 and a beta of 0.79.

Ardelyx (NASDAQ:ARDXGet Free Report) last posted 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. Ardelyx had a negative return on equity of 41.65% and a negative net margin of 41.36%. The company had revenue of $46.00 million for the quarter, compared to analyst estimates of $36.40 million. During the same period last year, the company earned ($0.13) earnings per share. The business’s revenue was up 303.5% compared to the same quarter last year. As a group, sell-side analysts predict that Ardelyx, Inc. will post -0.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Citigroup raised their price objective on Ardelyx from $13.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Piper Sandler reissued an “overweight” rating and set a $15.00 price objective on shares of Ardelyx in a research note on Friday, May 24th. Leerink Partnrs restated an “outperform” rating on shares of Ardelyx in a report on Friday, April 5th. Wedbush restated an “outperform” rating and issued a $15.00 target price on shares of Ardelyx in a report on Friday, May 24th. Finally, StockNews.com lowered Ardelyx from a “hold” rating to a “sell” rating in a report on Tuesday, May 21st. One 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 company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.81.

Read Our Latest Research Report on ARDX

Hedge Funds Weigh In On Ardelyx

Institutional investors have recently bought and sold shares of the stock. HighMark Wealth Management LLC bought a new position in Ardelyx during the first quarter valued at about $36,000. SJS Investment Consulting Inc. acquired a new stake in shares of Ardelyx in the fourth quarter valued at about $62,000. Sherbrooke Park Advisers LLC acquired a new stake in shares of Ardelyx in the third quarter valued at about $63,000. Jump Financial LLC acquired a new stake in shares of Ardelyx in the fourth quarter valued at about $63,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Ardelyx in the first quarter valued at about $64,000. 58.92% of the stock is currently owned by institutional investors.

About Ardelyx

(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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