David M. Mott Purchases 77,729 Shares of Ardelyx, Inc. (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX) Director David M. Mott bought 77,729 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were acquired at an average cost of $5.00 per share, with a total value of $388,645.00. Following the completion of the transaction, the director now owns 2,015,494 shares of the company’s stock, valued at $10,077,470. This represents a 4.01 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link.

Ardelyx Trading Up 2.4 %

Shares of 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. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -32.63 and a beta of 0.85. Ardelyx, Inc. has a 52-week low of $4.32 and a 52-week high of $9.83. The company has a 50-day simple moving average of $5.32 and a two-hundred day simple moving average of $5.62.

Ardelyx (NASDAQ:ARDX) last released its earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. The firm had revenue of $116.13 million for 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%. Research analysts anticipate that Ardelyx, Inc. will post -0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Piper Sandler boosted their target price on shares of Ardelyx from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Raymond James reissued 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 reissued a “neutral” rating and set a $5.50 target price on shares of Ardelyx in a research report on Friday, February 21st. Citigroup decreased their target price on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Jefferies Financial Group reduced 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, five have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.93.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ensign Peak Advisors Inc boosted its stake in Ardelyx by 3.1% in the fourth quarter. Ensign Peak Advisors Inc now owns 73,950 shares of the biopharmaceutical company’s stock valued at $375,000 after acquiring an additional 2,200 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in Ardelyx by 3.4% in the third quarter. B. Riley Wealth Advisors Inc. now owns 90,000 shares of the biopharmaceutical company’s stock valued at $599,000 after acquiring an additional 3,000 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Ardelyx by 2.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 154,625 shares of the biopharmaceutical company’s stock valued at $788,000 after acquiring an additional 3,550 shares during the last quarter. Swiss National Bank lifted its stake in shares of Ardelyx by 1.0% during the 4th quarter. Swiss National Bank now owns 463,100 shares of the biopharmaceutical company’s stock valued at $2,348,000 after buying an additional 4,800 shares in the last quarter. Finally, Orion Portfolio Solutions LLC lifted its stake in shares of Ardelyx by 42.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 16,486 shares of the biopharmaceutical company’s stock valued at $84,000 after buying an additional 4,933 shares in the last quarter. 58.92% of the stock is currently owned by hedge funds and other institutional investors.

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.