Michael Raab Sells 41,668 Shares of Ardelyx, Inc. (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) CEO Michael Raab sold 41,668 shares of the firm's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $5.36, for a total transaction of $223,340.48. Following the sale, the chief executive officer now directly owns 1,635,138 shares in the company, valued at approximately $8,764,339.68. The trade was a 2.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Michael Raab also recently made the following trade(s):

• On Thursday, February 20th, Michael Raab sold 22,964 shares of Ardelyx stock. The shares were sold at an average price of $5.62, for a total value of $129,057.68.
• On Friday, January 31st, Michael Raab sold 41,666 shares of Ardelyx stock. The stock was sold at an average price of $5.36, for a total value of $223,329.76.
• On Tuesday, January 7th, Michael Raab sold 41,666 shares of Ardelyx stock. The shares were sold at an average price of $5.31, for a total transaction of $221,246.46.
• On Tuesday, December 10th, Michael Raab sold 25,000 shares of Ardelyx stock. The stock was sold at an average price of $5.26, for a total transaction of $131,500.00.

Ardelyx Price Performance

Shares of NASDAQ ARDX traded up $0.38 during mid-day trading on Tuesday, hitting $5.62. 2,979,880 shares of the company's stock traded hands, compared to its average volume of 4,391,913. 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, Inc. has a 1 year low of $4.32 and a 1 year high of $9.33. The company's 50-day moving average is $5.39 and its two-hundred day moving average is $5.58. The company has a market capitalization of $1.34 billion, a P/E ratio of -35.13 and a beta of 0.87.

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Ardelyx (NASDAQ:ARDX - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. The business had revenue of $116.13 million during the quarter, compared to analyst estimates of $111.16 million. Ardelyx had a negative return on equity of 24.87% and a negative net margin of 11.73%. On average, equities analysts anticipate that Ardelyx, Inc. will post -0.18 EPS for the current fiscal year.

Institutional Trading of Ardelyx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new position in shares of Ardelyx during the fourth quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. purchased a new position in Ardelyx during the 4th quarter valued at $35,000. SBI Securities Co. Ltd. bought a new position in Ardelyx in the 4th quarter valued at $41,000. Quarry LP purchased a new stake in Ardelyx in the fourth quarter worth $51,000. Finally, Rehmann Capital Advisory Group bought a new stake in shares of Ardelyx during the fourth quarter worth $51,000. 58.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ARDX. Jefferies Financial Group lowered their target price on Ardelyx from $11.00 to $8.00 and set a "buy" rating on the stock in a research report on Thursday, January 2nd. BTIG Research began coverage on shares of Ardelyx in a research note on Tuesday, March 4th. They set a "buy" rating and a $14.00 target price on the stock. Raymond James reiterated a "strong-buy" rating and issued a $13.00 price target (down previously from $15.00) on shares of Ardelyx in a research note on Friday, February 21st. Piper Sandler boosted their price objective on Ardelyx from $7.00 to $8.00 and gave the company a "neutral" rating in a research report on Monday, January 27th. Finally, LADENBURG THALM/SH SH reaffirmed a "buy" rating and issued a $11.00 price objective on shares of Ardelyx in a research note on Friday. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $10.95.

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.