Ardelyx, Inc. (NASDAQ:ARDX) Director Purchases $388,645.00 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) Director David M. Mott bought 77,729 shares of the stock in a transaction on Monday, February 24th. The stock was purchased at an average price of $5.00 per share, for a total transaction of $388,645.00. Following the completion of the purchase, the director now directly owns 2,015,494 shares in the company, valued at approximately $10,077,470. This represents a 4.01 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ardelyx Price Performance

ARDX stock opened at $5.22 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 4.31 and a current ratio of 4.58. Ardelyx, Inc. has a 52 week low of $4.32 and a 52 week high of $9.83. The firm’s fifty day moving average is $5.32 and its 200 day moving average is $5.62. The firm has a market cap of $1.24 billion, a P/E ratio of -32.63 and a beta of 0.85.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. The business had revenue of $116.13 million for the quarter, compared to analyst estimates of $111.16 million. Ardelyx had a negative net margin of 11.73% and a negative return on equity of 24.87%. Research analysts predict that Ardelyx, Inc. will post -0.18 earnings per share for the current year.

Institutional Investors Weigh In On Ardelyx

A number of large investors have recently added to or reduced their stakes in ARDX. GF Fund Management CO. LTD. bought a new stake in Ardelyx in the 4th quarter worth $25,000. Newbridge Financial Services Group Inc. bought a new stake in Ardelyx in the 4th quarter worth $35,000. SBI Securities Co. Ltd. bought a new stake in Ardelyx in the 4th quarter worth $41,000. Quarry LP bought a new stake in Ardelyx in the 4th quarter worth $51,000. Finally, Rehmann Capital Advisory Group bought a new stake in Ardelyx in the 4th quarter worth $51,000. Institutional investors own 58.92% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ARDX. Jefferies Financial Group decreased their price target on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Raymond James reissued a “strong-buy” rating and issued a $13.00 price target (down previously from $15.00) on shares of Ardelyx in a report on Friday, February 21st. HC Wainwright reissued a “neutral” rating and issued a $5.50 price target on shares of Ardelyx in a report on Friday, February 21st. Citigroup decreased their price target on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, Piper Sandler increased their price target on shares of Ardelyx from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.93.

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.