Michael Raab Sells 25,000 Shares of Ardelyx, Inc. (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) CEO Michael Raab sold 25,000 shares of the business's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $5.91, for a total transaction of $147,750.00. Following the transaction, the chief executive officer now owns 1,210,108 shares in the company, valued at $7,151,738.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, October 11th, Michael Raab sold 7,500 shares of Ardelyx stock. The stock was sold at an average price of $6.01, for a total transaction of $45,075.00.
• On Thursday, September 26th, Michael Raab sold 3,000 shares of Ardelyx stock. The stock was sold at an average price of $6.07, for a total transaction of $18,210.00.
• On Wednesday, September 11th, Michael Raab sold 35,000 shares of Ardelyx stock. The stock was sold at an average price of $5.61, for a total transaction of $196,350.00.
• On Tuesday, August 27th, Michael Raab sold 7,500 shares of Ardelyx stock. The stock was sold at an average price of $6.22, for a total transaction of $46,650.00.
• On Tuesday, August 20th, Michael Raab sold 32,225 shares of Ardelyx stock. The stock was sold at an average price of $5.86, for a total transaction of $188,838.50.
• On Monday, August 12th, Michael Raab sold 1,229 shares of Ardelyx stock. The stock was sold at an average price of $5.71, for a total transaction of $7,017.59.

Ardelyx Stock Performance

ARDX traded down $0.02 during trading on Thursday, hitting $5.87. 6,035,457 shares of the company traded hands, compared to its average volume of 4,841,022. The firm has a market cap of $1.37 billion, a P/E ratio of -20.96 and a beta of 0.90. The stock's fifty day moving average is $6.07 and its 200 day moving average is $6.33. The company has a quick ratio of 3.99, a current ratio of 4.21 and a debt-to-equity ratio of 0.68. Ardelyx, Inc. has a one year low of $3.43 and a one year high of $10.13.

Ardelyx (NASDAQ:ARDX - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.04. The company had revenue of $73.20 million during the quarter, compared to analyst estimates of $55.03 million. Ardelyx had a negative net margin of 31.02% and a negative return on equity of 39.73%. The firm's revenue for the quarter was up 228.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.08) earnings per share. As a group, equities analysts predict that Ardelyx, Inc. will post -0.25 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Citigroup upped their price objective on shares of Ardelyx from $10.00 to $12.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. StockNews.com upgraded shares of Ardelyx from a "sell" rating to a "hold" rating in a research note on Wednesday, July 31st. HC Wainwright upped their target price on shares of Ardelyx from $10.00 to $11.00 and gave the stock a "buy" rating in a research note on Monday, August 5th. Finally, Wedbush reiterated an "outperform" rating and issued a $11.00 target price on shares of Ardelyx in a research note on Friday, August 2nd. Two 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's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $11.67.

Hedge Funds Weigh In On Ardelyx

Several institutional investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its holdings in Ardelyx by 1,026.3% during the second quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company's stock valued at $26,000 after purchasing an additional 3,233 shares during the last quarter. Redwood Wealth Management Group LLC purchased a new stake in Ardelyx during the second quarter valued at about $62,000. Coastal Bridge Advisors LLC purchased a new stake in Ardelyx during the second quarter valued at about $74,000. Helen Stephens Group LLC purchased a new stake in Ardelyx during the third quarter valued at about $76,000. Finally, Paloma Partners Management Co purchased a new stake in Ardelyx during the first quarter valued at about $86,000. Institutional investors own 58.92% of the company's stock.

About Ardelyx

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.