Ardelyx, Inc. (NASDAQ:ARDX) CEO Sells $223,340.48 in Stock

Ardelyx, Inc. (NASDAQ:ARDX) CEO Michael Raab sold 41,668 shares of the business’s stock in a transaction on 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 $8,764,339.68. This trade represents a 2.48 % decrease in their ownership of the stock. 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 transaction of $129,057.68.
• On Friday, January 31st, Michael Raab sold 41,666 shares of Ardelyx stock. The shares were 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 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 shares were sold at an average price of $5.26, for a total transaction of $131,500.00.

Ardelyx Stock Down 0.4 %

ARDX stock opened at $5.30 on Monday. The stock has a market capitalization of $1.26 billion, a P/E ratio of -33.13 and a beta of 0.87. The firm has a 50-day simple moving average of $5.39 and a 200-day simple moving average of $5.59. The company has a quick ratio of 4.31, a current ratio of 4.58 and a debt-to-equity ratio of 0.87. Ardelyx, Inc. has a 52 week low of $4.32 and a 52 week high of $9.33.

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

Institutional Trading of Ardelyx

Institutional investors and hedge funds have recently modified their holdings of the stock. GF Fund Management CO. LTD. purchased a new stake in shares of Ardelyx during the fourth quarter worth about $25,000. Newbridge Financial Services Group Inc. purchased a new stake in Ardelyx during the 4th quarter valued at about $35,000. SBI Securities Co. Ltd. purchased a new stake in Ardelyx during the 4th quarter valued at about $41,000. Quarry LP purchased a new stake in Ardelyx during the 4th quarter valued at about $51,000. Finally, Rehmann Capital Advisory Group purchased a new stake in Ardelyx during the 4th quarter valued at about $51,000. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ARDX shares. Scotiabank started coverage on shares of Ardelyx in a research report on Friday. They set a “sector outperform” rating and a $15.00 target price for the company. Raymond James restated a “strong-buy” rating and set a $13.00 target price (down from $15.00) on shares of Ardelyx in a research report on Friday, February 21st. HC Wainwright reiterated a “neutral” rating and issued a $5.50 price objective on shares of Ardelyx in a research report on Friday, February 21st. BTIG Research assumed coverage on shares of Ardelyx in a research report on Tuesday, March 4th. They issued a “buy” rating and a $14.00 price objective for the company. Finally, Jefferies Financial Group decreased their price objective on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, January 2nd. 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.