Ardelyx (NASDAQ:ARDX) Stock Rating Lowered by StockNews.com

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

ARDX has been the subject of several other research reports. Piper Sandler reiterated an “overweight” rating and issued a $15.00 target price on shares of Ardelyx in a research note on Friday, May 24th. Cantor Fitzgerald restated an “overweight” rating on shares of Ardelyx in a research note on Thursday, June 20th. Wedbush reiterated an “outperform” rating and issued a $15.00 target price on shares of Ardelyx in a research note on Friday, May 24th. Citigroup lifted their target price on shares of Ardelyx from $13.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, Leerink Partnrs reiterated an “outperform” rating on shares of Ardelyx in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Ardelyx currently has an average rating of “Moderate Buy” and an average price target of $12.81.

Ardelyx Trading Up 14.0 %

Shares of NASDAQ:ARDX opened at $7.41 on Friday. The company has a market cap of $1.72 billion, a P/E ratio of -26.46 and a beta of 0.79. The stock’s 50-day moving average is $7.00 and its 200-day moving average is $7.62. Ardelyx has a 52-week low of $3.16 and a 52-week high of $10.13. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.36 and a current ratio of 4.53.

Ardelyx (NASDAQ:ARDX) 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. Ardelyx had a negative net margin of 41.36% and a negative return on equity of 41.65%. The business had revenue of $46.00 million during the quarter, compared to analysts’ expectations of $36.40 million. During the same quarter last year, the company earned ($0.13) earnings per share. The firm’s revenue was up 303.5% on a year-over-year basis. Equities research analysts predict that Ardelyx will post -0.36 earnings per share for the current year.

Insider Activity at Ardelyx

In other Ardelyx news, insider David P. Rosenbaum sold 17,872 shares of Ardelyx stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $7.00, for a total transaction of $125,104.00. Following the completion of the sale, the insider now owns 158,502 shares of the company’s stock, valued at approximately $1,109,514. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Ardelyx news, insider Robert Ora Felsch sold 207,988 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $8.81, for a total transaction of $1,832,374.28. Following the sale, the insider now directly owns 95,947 shares of the company’s stock, valued at approximately $845,293.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider David P. Rosenbaum sold 17,872 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $7.00, for a total transaction of $125,104.00. Following the sale, the insider now directly owns 158,502 shares in the company, valued at $1,109,514. The disclosure for this sale can be found here. Insiders sold a total of 535,637 shares of company stock valued at $4,128,322 over the last quarter. Corporate insiders own 5.50% of the company’s stock.

Institutional Investors Weigh In On Ardelyx

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. HighMark Wealth Management LLC acquired a new position in Ardelyx in the 1st quarter valued at about $36,000. Newbridge Financial Services Group Inc. acquired a new stake in shares of Ardelyx during the first quarter worth $64,000. SJS Investment Consulting Inc. acquired a new stake in shares of Ardelyx during the fourth quarter worth $62,000. Jump Financial LLC acquired a new stake in shares of Ardelyx during the fourth quarter worth $63,000. Finally, Paloma Partners Management Co acquired a new stake in shares of Ardelyx during the first quarter worth $86,000. 58.92% of the stock is owned by institutional investors.

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.