Ardelyx, Inc. (NASDAQ:ARDX) Receives $10.07 Average PT from Brokerages

Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the nine ratings firms that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $10.07.

A number of research analysts recently issued reports on the company. Jefferies Financial Group reduced their price target on Ardelyx from $11.00 to $8.00 and set a "buy" rating on the stock in a report on Thursday. Citigroup reduced their target price on Ardelyx from $12.00 to $10.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Finally, HC Wainwright lowered Ardelyx from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $11.00 to $5.50 in a research note on Monday, November 11th.

Ardelyx Trading Up 0.6 %

Shares of Ardelyx stock traded up $0.03 on Monday, hitting $5.00. The stock had a trading volume of 3,510,495 shares, compared to its average volume of 4,053,629. The stock's 50-day simple moving average is $5.27 and its two-hundred day simple moving average is $5.72. Ardelyx has a one year low of $4.32 and a one year high of $10.13. The company has a quick ratio of 3.87, a current ratio of 4.03 and a debt-to-equity ratio of 0.64. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -16.67 and a beta of 0.85.

Insiders Place Their Bets

In other Ardelyx news, insider David P. Rosenbaum sold 27,172 shares of the company's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $5.95, for a total value of $161,673.40. Following the sale, the insider now owns 153,616 shares in the company, valued at approximately $914,015.20. This represents a 15.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David M. Mott purchased 213,300 shares of the company's stock in a transaction dated Thursday, December 19th. The stock was bought at an average cost of $4.67 per share, for a total transaction of $996,111.00. Following the completion of the transaction, the director now owns 1,638,765 shares in the company, valued at approximately $7,653,032.55. This represents a 14.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 184,192 shares of company stock worth $1,013,345. 5.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ardelyx

A number of institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. grew its position in Ardelyx by 283.9% during the 2nd quarter. Principal Financial Group Inc. now owns 471,453 shares of the biopharmaceutical company's stock valued at $3,493,000 after purchasing an additional 348,642 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Ardelyx during the second quarter valued at approximately $832,000. Ausdal Financial Partners Inc. raised its holdings in Ardelyx by 89.1% in the 2nd quarter. Ausdal Financial Partners Inc. now owns 28,770 shares of the biopharmaceutical company's stock worth $213,000 after acquiring an additional 13,557 shares during the last quarter. Redwood Wealth Management Group LLC bought a new position in Ardelyx in the 2nd quarter valued at approximately $62,000. Finally, XTX Topco Ltd purchased a new stake in Ardelyx during the 2nd quarter valued at $446,000. 58.92% of the stock is 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.