Insider Selling: Ardelyx, Inc. (NASDAQ:ARDX) Insider Sells 5,312 Shares of Stock

Ardelyx, Inc. (NASDAQ:ARDX) insider David P. Rosenbaum sold 5,312 shares of Ardelyx stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $6.26, for a total value of $33,253.12. Following the transaction, the insider now directly owns 153,616 shares of the company’s stock, valued at approximately $961,636.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Ardelyx Trading Down 1.1 %

NASDAQ ARDX opened at $6.15 on Wednesday. The company has a quick ratio of 3.99, a current ratio of 4.21 and a debt-to-equity ratio of 0.68. The stock’s 50-day simple moving average is $5.87 and its two-hundred day simple moving average is $6.71. Ardelyx, Inc. has a twelve month low of $3.16 and a twelve month high of $10.13. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -21.96 and a beta of 0.90.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04. The company had revenue of $73.20 million for the quarter, compared to analysts’ expectations of $55.03 million. Ardelyx had a negative return on equity of 39.73% and a negative net margin of 31.02%. Ardelyx’s revenue for the quarter was up 228.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.08) EPS. Research analysts forecast that Ardelyx, Inc. will post -0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on ARDX shares. HC Wainwright boosted their price objective on shares of Ardelyx from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, August 5th. StockNews.com raised shares of Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Ardelyx in a report on Thursday, June 20th. Wedbush reiterated an “outperform” rating and issued a $11.00 price objective on shares of Ardelyx in a research report on Friday, August 2nd. Finally, Citigroup boosted their target price on Ardelyx from $10.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.67.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC grew its holdings in shares of Ardelyx by 1,026.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 3,233 shares during the last quarter. HighMark Wealth Management LLC bought a new position in shares of Ardelyx during the first quarter valued at about $36,000. Redwood Wealth Management Group LLC bought a new position in shares of Ardelyx during the second quarter valued at about $62,000. Jump Financial LLC purchased a new position in shares of Ardelyx in the fourth quarter worth about $63,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Ardelyx in the 1st quarter valued at about $64,000. 58.92% of the stock is owned by hedge funds and other 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.