Justin A. Renz Sells 5,171 Shares of Ardelyx, Inc. (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX) CFO Justin A. Renz sold 5,171 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $5.62, for a total value of $29,061.02. Following the transaction, the chief financial officer now directly owns 285,968 shares of the company’s stock, valued at approximately $1,607,140.16. The trade was a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Ardelyx Stock Down 11.6 %

Shares of NASDAQ ARDX opened at $5.06 on Friday. The stock has a market cap of $1.20 billion, a PE ratio of -31.59 and a beta of 0.85. 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, Inc. has a 12-month low of $4.32 and a 12-month high of $9.83. The company has a 50-day moving average of $5.30 and a 200 day moving average of $5.63.

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. HC Wainwright reissued a “neutral” rating and issued a $5.50 price target on shares of Ardelyx in a report on Friday. Raymond James reissued a “strong-buy” rating and set a $13.00 target price (down previously from $15.00) on shares of Ardelyx in a research note on Friday. Piper Sandler raised their price target on shares of Ardelyx from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Citigroup lowered their price objective on Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, Jefferies Financial Group reduced their target price on Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a 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. Based on data from MarketBeat, Ardelyx currently has a consensus rating of “Moderate Buy” and an average price target of $9.93.

Institutional Trading of Ardelyx

Large investors have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. purchased a new position in shares of Ardelyx during the 4th quarter worth $25,000. Newbridge Financial Services Group Inc. acquired a new stake in Ardelyx during the fourth quarter worth about $35,000. SBI Securities Co. Ltd. purchased a new position in Ardelyx during the fourth quarter worth about $41,000. Quarry LP acquired a new position in Ardelyx in the 4th quarter valued at about $51,000. Finally, Rehmann Capital Advisory Group purchased a new stake in shares of Ardelyx in the 4th quarter valued at approximately $51,000. 58.92% of the stock is currently owned by hedge funds and other institutional investors.

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.