Ardelyx’s (ARDX) Neutral Rating Reiterated at HC Wainwright

HC Wainwright reiterated their neutral rating on shares of Ardelyx (NASDAQ:ARDX) in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has a $5.50 price target on the biopharmaceutical company’s stock. HC Wainwright also issued estimates for Ardelyx’s FY2029 earnings at $1.18 EPS.

A number of other brokerages have also issued reports on ARDX. Citigroup decreased their price objective on Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a report on Monday, November 4th. Cantor Fitzgerald raised Ardelyx to a “strong-buy” rating in a report on Thursday, January 30th. Jefferies Financial Group decreased their price objective on Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Finally, Piper Sandler increased their price objective on Ardelyx from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.93.

Ardelyx Stock Down 11.6 %

NASDAQ:ARDX opened at $5.06 on Friday. The firm has a market capitalization of $1.20 billion, a PE ratio of -31.59 and a beta of 0.85. The stock has a 50 day moving average of $5.30 and a 200-day moving average of $5.63. Ardelyx has a 52 week low of $4.32 and a 52 week high of $9.83. The company has a current ratio of 4.03, a quick ratio of 3.87 and a debt-to-equity ratio of 0.64.

Ardelyx (NASDAQ:ARDX) last posted its earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. The company had revenue of $116.13 million during the quarter, compared to analyst estimates of $111.16 million. Ardelyx had a negative return on equity of 25.74% and a negative net margin of 11.73%. Analysts predict that Ardelyx will post -0.18 EPS for the current year.

Insiders Place Their Bets

In other news, insider Laura A. Williams sold 4,941 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $5.62, for a total transaction of $27,768.42. Following the completion of the sale, the insider now owns 303,804 shares in the company, valued at approximately $1,707,378.48. This represents a 1.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Raab sold 22,964 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $5.62, for a total value of $129,057.68. Following the sale, the chief executive officer now owns 1,085,755 shares of the company’s stock, valued at $6,101,943.10. This trade represents a 2.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 141,408 shares of company stock worth $761,963 over the last ninety days. Company insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Ardelyx

Institutional investors and hedge funds have recently modified their holdings of the stock. GF Fund Management CO. LTD. acquired a new stake in shares of Ardelyx during the 4th quarter valued at $25,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Ardelyx in the fourth quarter valued at $35,000. SBI Securities Co. Ltd. purchased a new stake in shares of Ardelyx in the fourth quarter valued at $41,000. Quarry LP purchased a new stake in shares of Ardelyx in the fourth quarter valued at $51,000. Finally, Rehmann Capital Advisory Group purchased a new stake in shares of Ardelyx in the fourth quarter valued at $51,000. Institutional investors and hedge funds own 58.92% of the company’s stock.

Ardelyx Company Profile

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.