Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report)'s stock price shot up 8.3% during mid-day trading on Monday . The company traded as high as $5.82 and last traded at $5.49. 4,155,661 shares traded hands during trading, an increase of 0% from the average session volume of 4,141,302 shares. The stock had previously closed at $5.07.
Analyst Ratings Changes
Several research analysts have recently commented on ARDX shares. HC Wainwright cut shares of Ardelyx from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $11.00 to $5.50 in a report on Monday, November 11th. Citigroup dropped their price objective on Ardelyx from $12.00 to $10.00 and set a "buy" rating for the company in a report on Monday, November 4th. Finally, Jefferies Financial Group cut their target price on Ardelyx from $11.00 to $8.00 and set a "buy" rating for the company in a research report on Thursday, January 2nd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Ardelyx currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.25.
Read Our Latest Stock Analysis on Ardelyx
Ardelyx Price Performance
The business's 50-day simple moving average is $5.20 and its two-hundred day simple moving average is $5.69. The stock has a market cap of $1.39 billion, a price-to-earnings ratio of -19.60 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.
Insider Buying and Selling
In related news, CFO Justin A. Renz sold 5,260 shares of Ardelyx stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $4.79, for a total transaction of $25,195.40. Following the sale, the chief financial officer now directly owns 291,139 shares in the company, valued at $1,394,555.81. This trade represents a 1.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David P. Rosenbaum sold 27,172 shares of the company's stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $5.95, for a total transaction of $161,673.40. Following the completion of the transaction, the insider now owns 153,616 shares of the company's stock, valued at approximately $914,015.20. This trade represents a 15.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 218,358 shares of company stock worth $1,189,516 in the last 90 days. Insiders own 5.90% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Redwood Wealth Management Group LLC acquired a new position in shares of Ardelyx in the second quarter worth approximately $62,000. XTX Topco Ltd bought a new position in Ardelyx during the 2nd quarter worth approximately $446,000. Public Employees Retirement Association of Colorado acquired a new position in shares of Ardelyx in the 2nd quarter worth approximately $182,000. Simplify Asset Management Inc. boosted its stake in shares of Ardelyx by 70.9% in the 2nd quarter. Simplify Asset Management Inc. now owns 598,000 shares of the biopharmaceutical company's stock valued at $4,431,000 after purchasing an additional 248,000 shares during the last quarter. Finally, Squarepoint Ops LLC increased its position in shares of Ardelyx by 375.9% during the second quarter. Squarepoint Ops LLC now owns 460,689 shares of the biopharmaceutical company's stock worth $3,414,000 after buying an additional 363,894 shares during the period. 58.92% of the stock is 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 "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
