Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) shares gapped up before the market opened on Thursday after an insider bought additional shares in the company. The stock had previously closed at $5.05, but opened at $5.28. Ardelyx shares last traded at $5.21, with a volume of 1,368,265 shares traded.
Specifically, Director David M. Mott bought 199,000 shares of the business's stock in a transaction on Tuesday, January 21st. The shares were bought at an average cost of $4.99 per share, for a total transaction of $993,010.00. Following the completion of the purchase, the director now owns 1,937,765 shares of the company's stock, valued at $9,669,447.35. This represents a 11.44 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on ARDX shares. Citigroup cut 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. HC Wainwright reiterated a "neutral" rating and issued a $5.50 target price on shares of Ardelyx in a research note on Thursday, January 16th. Finally, Jefferies Financial Group cut their target price on Ardelyx from $11.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, January 2nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $9.25.
Check Out Our Latest Stock Report on Ardelyx
Ardelyx Price Performance
The stock has a market cap of $1.31 billion, a PE ratio of -18.40 and a beta of 0.85. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.87 and a current ratio of 4.03. The stock has a 50 day moving average of $5.18 and a two-hundred day moving average of $5.65.
Institutional Investors Weigh In On Ardelyx
Several institutional investors have recently made changes to their positions in the company. B. Riley Wealth Advisors Inc. increased its position in 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 buying an additional 3,000 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in Ardelyx by 10.9% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 50,222 shares of the biopharmaceutical company's stock worth $255,000 after purchasing an additional 4,942 shares in the last quarter. Aigen Investment Management LP boosted its stake in Ardelyx by 29.4% in the third quarter. Aigen Investment Management LP now owns 23,510 shares of the biopharmaceutical company's stock worth $162,000 after purchasing an additional 5,346 shares in the last quarter. Values First Advisors Inc. lifted its stake in shares of Ardelyx by 14.6% during the third quarter. Values First Advisors Inc. now owns 46,282 shares of the biopharmaceutical company's stock valued at $319,000 after acquiring an additional 5,890 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Ardelyx by 1.6% during the third quarter. JPMorgan Chase & Co. now owns 387,144 shares of the biopharmaceutical company's stock valued at $2,667,000 after acquiring an additional 6,093 shares during the period. 58.92% of the stock is currently owned by institutional investors and hedge funds.
Ardelyx Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider Ardelyx, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ardelyx wasn't on the list.
While Ardelyx currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
As the AI market heats up, investors who have a vision for artificial intelligence have the potential to see real returns. Learn about the industry as a whole as well as seven companies that are getting work done with the power of AI.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
