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

Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) Director David M. Mott bought 77,729 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was bought at an average cost of $5.00 per share, for a total transaction of $388,645.00. Following the completion of the transaction, the director now directly owns 2,015,494 shares of the company's stock, valued at approximately $10,077,470. The trade was a 4.01 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Ardelyx Stock Performance

Ardelyx stock traded up $0.14 during mid-day trading on Friday, hitting $5.36. 3,645,584 shares of the company's stock traded hands, compared to its average volume of 4,302,847. The company has a market cap of $1.28 billion, a PE ratio of -33.50 and a beta of 0.85. The firm has a 50 day moving average price of $5.33 and a 200 day moving average price of $5.61. Ardelyx, Inc. has a one year low of $4.32 and a one year high of $9.83. The company has a quick ratio of 4.31, a current ratio of 4.58 and a debt-to-equity ratio of 0.87.

Ardelyx (NASDAQ:ARDX - Get Free Report) last issued 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 24.87% and a negative net margin of 11.73%. The firm had revenue of $116.13 million during the quarter, compared to analyst estimates of $111.16 million. On average, equities analysts forecast that Ardelyx, Inc. will post -0.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ARDX shares. 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. Citigroup cut their price objective on shares of Ardelyx from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, November 4th. Raymond James reissued a "strong-buy" rating and set a $13.00 price target (down previously from $15.00) on shares of Ardelyx in a research report on Friday, February 21st. Cantor Fitzgerald raised Ardelyx to a "strong-buy" rating in a report on Thursday, January 30th. Finally, HC Wainwright restated a "neutral" rating and issued a $5.50 price target on shares of Ardelyx in a research report on Friday, February 21st. 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $9.93.

Institutional Trading of Ardelyx

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Ensign Peak Advisors Inc raised its position in shares of Ardelyx by 3.1% during the fourth quarter. Ensign Peak Advisors Inc now owns 73,950 shares of the biopharmaceutical company's stock worth $375,000 after purchasing an additional 2,200 shares during the period. B. Riley Wealth Advisors Inc. raised its position in Ardelyx by 3.4% during the third quarter. B. Riley Wealth Advisors Inc. now owns 90,000 shares of the biopharmaceutical company's stock valued at $599,000 after acquiring an additional 3,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Ardelyx by 2.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 154,625 shares of the biopharmaceutical company's stock worth $788,000 after purchasing an additional 3,550 shares in the last quarter. Swiss National Bank increased its holdings in shares of Ardelyx by 1.0% during the 4th quarter. Swiss National Bank now owns 463,100 shares of the biopharmaceutical company's stock valued at $2,348,000 after acquiring an additional 4,800 shares during the last quarter. Finally, Orion Portfolio Solutions LLC raised its position in shares of Ardelyx by 42.7% in the fourth quarter. Orion Portfolio Solutions LLC now owns 16,486 shares of the biopharmaceutical company's stock valued at $84,000 after purchasing an additional 4,933 shares during the period. 58.92% of the stock is owned by institutional investors and hedge funds.

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.