Ardelyx (NASDAQ:ARDX) Issues Quarterly Earnings Results, Meets Expectations

Ardelyx (NASDAQ:ARDX - Get Free Report) announced its quarterly earnings data on Thursday. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.02, Zacks reports. The company had revenue of $116.13 million during the quarter, compared to analysts' expectations of $111.16 million. Ardelyx had a negative net margin of 11.73% and a negative return on equity of 25.74%.

Ardelyx Stock Up 1.4 %

ARDX stock traded up $0.07 during midday trading on Monday, hitting $5.13. The stock had a trading volume of 3,790,673 shares, compared to its average volume of 4,402,331. Ardelyx has a 52-week low of $4.32 and a 52-week high of $9.83. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -32.06 and a beta of 0.85. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87. The business has a 50-day moving average of $5.30 and a two-hundred day moving average of $5.63.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ARDX. Citigroup cut their price target on shares of Ardelyx from $12.00 to $10.00 and set a "buy" rating for the company in a research report on Monday, November 4th. Cantor Fitzgerald upgraded Ardelyx to a "strong-buy" rating in a report on Thursday, January 30th. Jefferies Financial Group decreased their price target on Ardelyx from $11.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. Raymond James reissued a "strong-buy" rating and set a $13.00 price objective (down previously from $15.00) on shares of Ardelyx in a research note on Friday. Finally, Piper Sandler lifted their target price on shares of Ardelyx from $7.00 to $8.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $9.93.

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Insider Transactions at Ardelyx

In other news, CEO Michael Raab sold 22,964 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $5.62, for a total value of $129,057.68. Following the sale, the chief executive officer now directly owns 1,085,755 shares of the company's stock, valued at approximately $6,101,943.10. This represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David M. Mott purchased 213,300 shares of the stock in a transaction dated Thursday, December 19th. The stock was bought at an average cost of $4.67 per share, with a total value of $996,111.00. Following the transaction, the director now owns 1,638,765 shares in the company, valued at $7,653,032.55. The trade was a 14.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 141,408 shares of company stock valued at $761,963 in the last three months. 5.90% of the stock is currently owned by company insiders.

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.