Ardelyx (NASDAQ:ARDX) Issues Earnings Results

Ardelyx (NASDAQ:ARDX) announced its quarterly earnings results on Thursday. The biopharmaceutical company reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02, Zacks reports. Ardelyx had a negative net margin of 28.82% and a negative return on equity of 46.60%.

Ardelyx Price Performance

Shares of Ardelyx stock traded down $0.60 during midday trading on Thursday, reaching $5.76. The company had a trading volume of 3,269,177 shares, compared to its average volume of 4,254,293. The company has a current ratio of 4.03, a quick ratio of 3.87 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $1.36 billion, a price-to-earnings ratio of -19.05 and a beta of 0.85. The stock has a fifty day simple moving average of $5.29 and a 200 day simple moving average of $5.64. Ardelyx has a 1-year low of $4.32 and a 1-year high of $9.83.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ARDX. Citigroup cut their price target on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Jefferies Financial Group cut their target price on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Piper Sandler lifted 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. Cantor Fitzgerald upgraded shares of Ardelyx to a “strong-buy” rating in a research note on Thursday, January 30th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $5.50 target price on shares of Ardelyx in a research note on Thursday, January 16th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $9.42.

Insider Activity at Ardelyx

In other Ardelyx news, CEO Michael Raab sold 41,666 shares of Ardelyx stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $5.31, for a total transaction of $221,246.46. Following the completion of the sale, the chief executive officer now owns 1,129,552 shares of the company’s stock, valued at approximately $5,997,921.12. The trade was a 3.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David M. Mott acquired 213,300 shares of Ardelyx stock in a transaction dated Thursday, December 19th. The shares were acquired at an average price of $4.67 per share, with a total value of $996,111.00. Following the completion of the purchase, the director now owns 1,638,765 shares in the company, valued at approximately $7,653,032.55. The trade was a 14.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 133,332 shares of company stock valued at $710,576 over the last quarter. Corporate insiders own 5.90% 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.