Investors Purchase High Volume of Ardelyx Call Options (NASDAQ:ARDX)

Ardelyx, Inc. (NASDAQ:ARDX - Get Free Report) was the target of some unusual options trading on Friday. Stock traders purchased 5,573 call options on the company. This is an increase of approximately 75% compared to the average volume of 3,185 call options.

Ardelyx Stock Up 3.7 %

ARDX traded up $0.22 on Friday, reaching $6.09. The company's stock had a trading volume of 8,054,870 shares, compared to its average volume of 4,857,557. Ardelyx has a 1 year low of $3.43 and a 1 year high of $10.13. The business's 50 day moving average is $6.07 and its 200 day moving average is $6.33. The company has a debt-to-equity ratio of 0.68, a current ratio of 4.21 and a quick ratio of 3.99. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -22.48 and a beta of 0.90.

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

Insider Activity

In related news, insider David P. Rosenbaum sold 49,564 shares of Ardelyx stock in a transaction on Friday, September 27th. The shares were sold at an average price of $6.92, for a total value of $342,982.88. Following the transaction, the insider now directly owns 301,946 shares in the company, valued at $2,089,466.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Ardelyx news, CEO Michael Raab sold 32,225 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $5.86, for a total value of $188,838.50. Following the completion of the transaction, the chief executive officer now directly owns 1,227,009 shares of the company's stock, valued at approximately $7,190,272.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David P. Rosenbaum sold 49,564 shares of the firm's stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $6.92, for a total value of $342,982.88. Following the completion of the transaction, the insider now directly owns 301,946 shares of the company's stock, valued at $2,089,466.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 212,126 shares of company stock valued at $1,298,963. Company insiders own 5.90% of the company's stock.

Institutional Trading of Ardelyx

Several institutional investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC boosted its stake in Ardelyx by 1,026.3% in the second quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company's stock valued at $26,000 after acquiring an additional 3,233 shares during the period. Redwood Wealth Management Group LLC acquired a new position in Ardelyx during the 2nd quarter valued at approximately $62,000. Coastal Bridge Advisors LLC bought a new position in Ardelyx during the 2nd quarter worth $74,000. Helen Stephens Group LLC acquired a new stake in Ardelyx in the third quarter worth $76,000. Finally, Paloma Partners Management Co acquired a new stake in Ardelyx in the first quarter worth $86,000. Institutional investors own 58.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ARDX shares. Wedbush restated an "outperform" rating and set a $11.00 target price on shares of Ardelyx in a report on Friday, August 2nd. Citigroup raised their price objective on shares of Ardelyx from $10.00 to $12.00 and gave the stock a "buy" rating in a research note on Friday, August 2nd. StockNews.com raised Ardelyx from a "sell" rating to a "hold" rating in a research note on Wednesday, July 31st. Finally, HC Wainwright reiterated a "buy" rating and set a $11.00 target price on shares of Ardelyx in a report on Friday. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $11.67.

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.