Ardelyx, Inc. (NASDAQ:ARDX) Receives Average Recommendation of “Hold” from Analysts

Ardelyx, Inc. (NASDAQ:ARDXGet Rating) has earned an average recommendation of “Hold” from the seven research firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $4.83.

ARDX has been the subject of several recent research reports. Cantor Fitzgerald cut Ardelyx from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $7.00 to $1.00 in a research note on Friday, May 6th. StockNews.com cut Ardelyx from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Piper Sandler decreased their price objective on Ardelyx from $4.00 to $3.00 and set a “neutral” rating for the company in a research note on Wednesday, May 18th.

Ardelyx Stock Performance

Shares of Ardelyx stock opened at $0.85 on Friday. The business has a 50-day moving average of $0.65 and a 200 day moving average of $0.78. Ardelyx has a 12 month low of $0.49 and a 12 month high of $1.92.

Ardelyx (NASDAQ:ARDXGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The biopharmaceutical company reported ($0.19) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.19). Ardelyx had a negative return on equity of 177.22% and a negative net margin of 2,594.88%. During the same period in the previous year, the firm posted ($0.45) earnings per share. Research analysts predict that Ardelyx will post -0.72 EPS for the current year.

Insider Transactions at Ardelyx

In other news, CFO Justin A. Renz sold 73,312 shares of the firm’s stock in a transaction dated Monday, June 6th. The stock was sold at an average price of $0.65, for a total transaction of $47,652.80. Following the sale, the chief financial officer now owns 262,047 shares of the company’s stock, valued at approximately $170,330.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Ardelyx news, CFO Justin A. Renz sold 73,312 shares of Ardelyx stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $0.65, for a total transaction of $47,652.80. Following the transaction, the chief financial officer now owns 262,047 shares of the company’s stock, valued at $170,330.55. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Susan Rodriguez sold 43,920 shares of Ardelyx stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $0.65, for a total value of $28,548.00. Following the transaction, the insider now directly owns 289,593 shares in the company, valued at approximately $188,235.45. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 235,185 shares of company stock valued at $153,157. Corporate insiders own 5.95% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Ardelyx in the fourth quarter valued at approximately $26,000. Keebeck Wealth Management LLC increased its holdings in shares of Ardelyx by 400.0% in the fourth quarter. Keebeck Wealth Management LLC now owns 50,000 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 40,000 shares during the period. Mirabella Financial Services LLP acquired a new position in shares of Ardelyx in the first quarter valued at approximately $51,000. BlackRock Inc. increased its holdings in shares of Ardelyx by 1.3% in the first quarter. BlackRock Inc. now owns 5,700,576 shares of the biopharmaceutical company’s stock valued at $6,100,000 after purchasing an additional 71,592 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Ardelyx in the second quarter valued at approximately $43,000. Institutional investors and hedge funds own 32.35% of the company’s stock.

About Ardelyx

(Get Rating)

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, which has completed Phase III clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase III clinical trial to control serum phosphorus in adult patients with chronic kidney disease (CKD)on dialysis, or hyperphosphatemia.

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Analyst Recommendations for Ardelyx (NASDAQ:ARDX)

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