Ardelyx, Inc. (NASDAQ:ARDX) Director David M. Mott Buys 77,729 Shares of Stock

Ardelyx, Inc. (NASDAQ:ARDX) Director David M. Mott purchased 77,729 shares of Ardelyx stock in a transaction that occurred on Monday, February 24th. The stock was acquired at an average price of $5.00 per share, with a total value of $388,645.00. Following the transaction, the director now owns 2,015,494 shares in the company, valued at $10,077,470. The trade was a 4.01 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Ardelyx Trading Down 1.5 %

Shares of ARDX stock opened at $5.10 on Thursday. The business’s fifty day moving average price is $5.31 and its 200 day moving average price is $5.62. The firm has a market capitalization of $1.21 billion, a PE ratio of -31.88 and a beta of 0.85. The company has a debt-to-equity ratio of 0.87, a current ratio of 4.58 and a quick ratio of 4.31. Ardelyx, Inc. has a 1-year low of $4.32 and a 1-year high of $9.83.

Ardelyx (NASDAQ:ARDX) last issued its earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. The company had revenue of $116.13 million for the quarter, compared to analyst estimates of $111.16 million. Ardelyx had a negative net margin of 11.73% and a negative return on equity of 24.87%. As a group, sell-side analysts forecast that Ardelyx, Inc. will post -0.18 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

Analysts Set New Price Targets

A number of brokerages have recently commented on ARDX. Citigroup reduced their target price on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a report on Monday, November 4th. Piper Sandler boosted their price target on Ardelyx from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. 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 research report on Thursday, January 2nd. Raymond James restated a “strong-buy” rating and set a $13.00 price target (down previously from $15.00) on shares of Ardelyx in a research note on Friday, February 21st. Finally, Cantor Fitzgerald raised Ardelyx to a “strong-buy” rating in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Ardelyx has an average rating of “Moderate Buy” and an average price target of $9.93.

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.