Ardelyx, Inc. (NASDAQ:ARDX) Receives $10.95 Average Target Price from Analysts

Shares of Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) have been given an average rating of "Buy" by the twelve brokerages that are presently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $10.95.

Several research analysts recently weighed in on the stock. Raymond James reaffirmed a "strong-buy" rating and issued a $13.00 target price (down previously from $15.00) on shares of Ardelyx in a report on Friday, February 21st. LADENBURG THALM/SH SH reaffirmed a "buy" rating and set a $11.00 price objective on shares of Ardelyx in a research note on Friday, March 7th. BTIG Research started coverage on Ardelyx in a research report on Tuesday, March 4th. They issued a "buy" rating and a $14.00 price objective on the stock. Cantor Fitzgerald upgraded Ardelyx to a "strong-buy" rating in a report on Tuesday, March 4th. Finally, Piper Sandler raised shares of Ardelyx to a "hold" rating in a research note on Wednesday, March 12th.

Insider Transactions at Ardelyx

In other Ardelyx news, Director David M. Mott purchased 77,729 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were purchased 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 owns 2,015,494 shares of the company's stock, valued at $10,077,470. The trade was a 4.01 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael Raab sold 41,668 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $5.36, for a total value of $223,340.48. Following the completion of the sale, the chief executive officer now owns 1,635,138 shares of the company's stock, valued at $8,764,339.68. This trade represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 158,076 shares of company stock valued at $853,804 over the last 90 days. Corporate insiders own 5.90% of the company's stock.

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Institutional Trading of Ardelyx

Hedge funds and other institutional investors have recently made changes to their positions in the company. Ensign Peak Advisors Inc boosted its stake in 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 buying an additional 2,200 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in shares of Ardelyx by 3.4% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 90,000 shares of the biopharmaceutical company's stock worth $599,000 after acquiring an additional 3,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Ardelyx by 2.3% during the 4th 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 during the period. Swiss National Bank increased its holdings in Ardelyx by 1.0% in the 4th quarter. Swiss National Bank now owns 463,100 shares of the biopharmaceutical company's stock valued at $2,348,000 after purchasing an additional 4,800 shares during the last quarter. Finally, Orion Portfolio Solutions LLC lifted its stake in Ardelyx by 42.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 16,486 shares of the biopharmaceutical company's stock worth $84,000 after purchasing an additional 4,933 shares in the last quarter. Institutional investors and hedge funds own 58.92% of the company's stock.

Ardelyx Stock Down 1.1 %

ARDX stock traded down $0.06 on Friday, reaching $5.19. 7,501,593 shares of the company traded hands, compared to its average volume of 4,306,771. The company has a market cap of $1.24 billion, a P/E ratio of -32.44 and a beta of 0.87. 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 has a one year low of $4.32 and a one year high of $9.33. The firm has a fifty day simple moving average of $5.42 and a 200-day simple moving average of $5.53.

Ardelyx (NASDAQ:ARDX - Get Free Report) last announced 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. The firm had revenue of $116.13 million for the quarter, compared to the consensus estimate of $111.16 million. Ardelyx had a negative return on equity of 24.87% and a negative net margin of 11.73%. Research analysts anticipate that Ardelyx will post -0.18 earnings per share for the current year.

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.