Ardelyx (NASDAQ:ARDX) Lowered to Neutral Rating by HC Wainwright

HC Wainwright downgraded shares of Ardelyx (NASDAQ:ARDX) from a buy rating to a neutral rating in a research report sent to investors on Monday, MarketBeat.com reports. HC Wainwright currently has $5.50 target price on the biopharmaceutical company’s stock, down from their previous target price of $11.00. HC Wainwright also issued estimates for Ardelyx’s Q1 2025 earnings at ($0.15) EPS, Q2 2025 earnings at ($0.12) EPS, Q3 2025 earnings at ($0.10) EPS, Q4 2025 earnings at ($0.09) EPS, FY2025 earnings at ($0.47) EPS, FY2026 earnings at $0.03 EPS, FY2027 earnings at $0.63 EPS and FY2028 earnings at $1.06 EPS.

ARDX has been the topic of a number of other reports. Wedbush reissued an “outperform” rating and issued a $11.00 price target on shares of Ardelyx in a research note on Friday, August 2nd. Citigroup decreased their target price on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, StockNews.com raised shares of Ardelyx from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.42.

Ardelyx Trading Up 4.7 %

Shares of Ardelyx stock opened at $4.71 on Monday. Ardelyx has a fifty-two week low of $3.83 and a fifty-two week high of $10.13. The business’s fifty day moving average is $5.97 and its two-hundred day moving average is $6.27. The company has a quick ratio of 3.87, a current ratio of 4.03 and a debt-to-equity ratio of 0.64. The firm has a market cap of $1.12 billion, a PE ratio of -15.70 and a beta of 0.92.

Insider Buying and Selling at Ardelyx

In other news, insider David P. Rosenbaum sold 20,507 shares of the business’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $6.00, for a total transaction of $123,042.00. Following the transaction, the insider now directly owns 158,502 shares of the company’s stock, valued at approximately $951,012. The trade was a 11.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Justin A. Renz sold 5,289 shares of the company’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $5.86, for a total transaction of $30,993.54. Following the completion of the transaction, the chief financial officer now owns 295,257 shares of the company’s stock, valued at $1,730,206.02. This trade represents a 1.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 247,983 shares of company stock valued at $1,514,002 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Ardelyx

A number of institutional investors have recently added to or reduced their stakes in ARDX. Eventide Asset Management LLC grew its stake in shares of Ardelyx by 11.2% during the third quarter. Eventide Asset Management LLC now owns 7,413,049 shares of the biopharmaceutical company’s stock valued at $51,076,000 after acquiring an additional 746,067 shares in the last quarter. Vestal Point Capital LP purchased a new position in Ardelyx in the third quarter valued at about $3,445,000. Rubric Capital Management LP grew its stake in Ardelyx by 68.5% during the 3rd quarter. Rubric Capital Management LP now owns 3,060,191 shares of the biopharmaceutical company’s stock valued at $21,085,000 after purchasing an additional 1,243,606 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Ardelyx by 274.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 181,387 shares of the biopharmaceutical company’s stock worth $1,250,000 after purchasing an additional 132,928 shares during the last quarter. Finally, Propel Bio Management LLC increased its holdings in Ardelyx by 15.8% during the 3rd quarter. Propel Bio Management LLC now owns 1,070,947 shares of the biopharmaceutical company’s stock worth $7,379,000 after purchasing an additional 146,364 shares during the last quarter. 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.