Ardelyx, Inc. (NASDAQ:ARDX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Ardelyx, Inc. (NASDAQ:ARDX) have been assigned an average rating of “Moderate Buy” from the eight research firms that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $9.42.

Several research firms have recently issued reports on ARDX. Piper Sandler upped their target price on shares of Ardelyx from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Monday. Jefferies Financial Group reduced their price objective on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. HC Wainwright reissued a “neutral” rating and set a $5.50 target price on shares of Ardelyx in a research report on Thursday, January 16th. Finally, Citigroup reduced their target price on Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a report on Monday, November 4th.

Insider Transactions at Ardelyx

In other news, CFO Justin A. Renz sold 5,260 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $4.79, for a total value of $25,195.40. Following the completion of the transaction, the chief financial officer now directly owns 291,139 shares of the company’s stock, valued at $1,394,555.81. This trade represents a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David M. Mott purchased 199,000 shares of Ardelyx stock in a transaction dated Tuesday, January 21st. The stock was bought at an average price of $4.99 per share, with a total value of $993,010.00. Following the completion of the transaction, the director now owns 1,937,765 shares of the company’s stock, valued at $9,669,447.35. This represents a 11.44 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 193,358 shares of company stock worth $1,041,766. 5.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ARDX. Newbridge Financial Services Group Inc. bought a new stake in shares of Ardelyx during the fourth quarter valued at about $35,000. KBC Group NV grew its stake in Ardelyx by 101.8% during the fourth quarter. KBC Group NV now owns 13,706 shares of the biopharmaceutical company’s stock valued at $69,000 after acquiring an additional 6,915 shares in the last quarter. Helen Stephens Group LLC bought a new stake in Ardelyx during the 3rd quarter worth approximately $76,000. CWM LLC lifted its stake in Ardelyx by 328.1% in the 3rd quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 9,821 shares in the last quarter. Finally, Bleakley Financial Group LLC bought a new position in Ardelyx in the 4th quarter valued at $98,000. Institutional investors own 58.92% of the company’s stock.

Ardelyx Stock Down 2.2 %

Shares of NASDAQ:ARDX opened at $5.36 on Friday. The business’s 50 day moving average is $5.23 and its 200 day moving average is $5.64. Ardelyx has a 12-month low of $4.32 and a 12-month high of $10.13. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of -17.87 and a beta of 0.85. The company has a quick ratio of 3.87, a current ratio of 4.03 and a debt-to-equity ratio of 0.64.

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.