Ardelyx (NASDAQ:ARDX) Announces Quarterly Earnings Results, Meets Estimates

Ardelyx (NASDAQ:ARDX) announced its quarterly earnings results on Thursday. The biopharmaceutical company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02, Zacks reports. The company had revenue of $116.13 million during the quarter, compared to analysts’ expectations of $111.16 million. Ardelyx had a negative return on equity of 25.74% and a negative net margin of 11.73%.

Ardelyx Price Performance

Shares of NASDAQ:ARDX traded down $0.67 during trading on Friday, reaching $5.06. The stock had a trading volume of 6,744,975 shares, compared to its average volume of 3,298,890. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.87 and a current ratio of 4.03. The business has a fifty day moving average price of $5.30 and a 200-day moving average price of $5.64. The stock has a market cap of $1.20 billion, a PE ratio of -31.59 and a beta of 0.85. Ardelyx has a 1-year low of $4.32 and a 1-year high of $9.83.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ARDX shares. Citigroup reduced their price target on Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, November 4th. HC Wainwright reiterated a “neutral” rating and set a $5.50 price target on shares of Ardelyx in a research report on Friday. Cantor Fitzgerald upgraded Ardelyx to a “strong-buy” rating in a research report on Thursday, January 30th. Raymond James reiterated a “strong-buy” rating and set a $13.00 price target (down from $15.00) on shares of Ardelyx in a research report on Friday. Finally, Jefferies Financial Group reduced their price target on Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.93.

Insider Transactions at Ardelyx

In related news, Director David M. Mott acquired 213,300 shares of the stock in a transaction on Thursday, December 19th. The shares were bought at an average price of $4.67 per share, with a total value of $996,111.00. Following the completion of the purchase, the director now owns 1,638,765 shares of the company’s stock, valued at approximately $7,653,032.55. This represents a 14.96 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Raab sold 25,000 shares of the business’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $5.26, for a total value of $131,500.00. Following the transaction, the chief executive officer now directly owns 1,150,385 shares in the company, valued at $6,051,025.10. This trade represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 166,408 shares of company stock valued at $896,463 over the last ninety days. Insiders own 5.90% of the company’s stock.

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.