Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab Sells 22,964 Shares

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 22,964 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $5.62, for a total transaction of $129,057.68. Following the completion of the sale, the chief executive officer now directly owns 1,085,755 shares in the company, valued at $6,101,943.10. This represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 transaction of $223,329.76.
• On Tuesday, January 7th, Michael Raab sold 41,666 shares of Ardelyx stock. The stock was 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.
• On Monday, November 25th, Michael Raab sold 25,000 shares of Ardelyx stock. The stock was sold at an average price of $5.38, for a total transaction of $134,500.00.

Ardelyx Price Performance

Shares of NASDAQ:ARDX opened at $5.06 on Friday. The firm’s 50 day moving average price is $5.30 and its 200-day moving average price is $5.64. Ardelyx, Inc. has a twelve month low of $4.32 and a twelve month high of $9.83. The company has a quick ratio of 3.87, a current ratio of 4.03 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $1.20 billion, a PE ratio of -16.85 and a beta of 0.85.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. Ardelyx had a negative net margin of 28.82% and a negative return on equity of 46.60%. The firm had revenue of $116.13 million for the quarter, compared to analysts’ expectations of $111.16 million. Equities research analysts expect that Ardelyx, Inc. will post -0.17 EPS for the current year.

Analysts Set New Price Targets

ARDX has been the topic of a number of analyst reports. Cantor Fitzgerald upgraded shares of Ardelyx to a “strong-buy” rating in a research note on Thursday, January 30th. Jefferies Financial Group dropped their price target on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Piper Sandler upped their target price on shares of Ardelyx from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday, January 27th. Raymond James restated a “strong-buy” rating and set a $13.00 target price (down previously from $15.00) on shares of Ardelyx in a research note on Friday. Finally, Citigroup lowered their target price on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Ardelyx currently has an average rating of “Moderate Buy” and an average price target of $9.93.

Hedge Funds Weigh In On Ardelyx

Institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. bought a new position in shares of Ardelyx in the 4th quarter worth approximately $25,000. Newbridge Financial Services Group Inc. purchased a new stake in Ardelyx in the 4th quarter worth approximately $35,000. SBI Securities Co. Ltd. purchased a new stake in Ardelyx in the 4th quarter worth approximately $41,000. Quarry LP purchased a new stake in Ardelyx in the 4th quarter worth approximately $51,000. Finally, Rehmann Capital Advisory Group purchased a new stake in Ardelyx in the 4th quarter worth approximately $51,000. Institutional investors own 58.92% of the company’s stock.

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.