Ardelyx Inc. (ARDX) SVP Elizabeth A. Grammer Sells 6,859 Shares
Ardelyx Inc. (NASDAQ:ARDX) SVP Elizabeth A. Grammer sold 6,859 shares of the firm’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $11.21, for a total value of $76,889.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Ardelyx Inc. (NASDAQ:ARDX) traded up 4.82% during mid-day trading on Wednesday, reaching $11.97. The company’s stock had a trading volume of 172,614 shares. The company’s 50 day moving average price is $10.48 and its 200-day moving average price is $8.96. The company’s market capitalization is $565.58 million. Ardelyx Inc. has a 1-year low of $6.36 and a 1-year high of $21.99.
Ardelyx (NASDAQ:ARDX) last announced its earnings results on Monday, August 8th. The biopharmaceutical company reported ($0.83) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by $0.08. Analysts predict that Ardelyx Inc. will post ($3.03) earnings per share for the current fiscal year.
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Several research analysts have recently issued reports on the company. Zacks Investment Research cut Ardelyx from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. Citigroup Inc. reduced their price objective on Ardelyx from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, August 10th. Wedbush restated an “outperform” rating and issued a $24.00 price objective on shares of Ardelyx in a research note on Thursday, June 23rd. Cantor Fitzgerald restated a “buy” rating on shares of Ardelyx in a research note on Wednesday, June 22nd. Finally, Leerink Swann restated a “buy” rating on shares of Ardelyx in a research note on Thursday, June 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $20.00.
Large investors have recently made changes to their positions in the stock. Highbridge Capital Management LLC bought a new stake in shares of Ardelyx during the second quarter worth approximately $129,000. ProShare Advisors LLC boosted its stake in shares of Ardelyx by 0.9% in the second quarter. ProShare Advisors LLC now owns 28,575 shares of the biopharmaceutical company’s stock worth $249,000 after buying an additional 262 shares during the period. Rhumbline Advisers boosted its stake in shares of Ardelyx by 25.7% in the second quarter. Rhumbline Advisers now owns 24,739 shares of the biopharmaceutical company’s stock worth $216,000 after buying an additional 5,053 shares during the period. Teachers Advisors Inc. boosted its stake in shares of Ardelyx by 10.0% in the second quarter. Teachers Advisors Inc. now owns 32,540 shares of the biopharmaceutical company’s stock worth $284,000 after buying an additional 2,956 shares during the period. Finally, American International Group Inc. boosted its stake in shares of Ardelyx by 36.8% in the second quarter. American International Group Inc. now owns 13,176 shares of the biopharmaceutical company’s stock worth $115,000 after buying an additional 3,544 shares during the period. Hedge funds and other institutional investors own 62.84% of the company’s stock.
Ardelyx Company Profile
Ardelyx, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of minimally systemic therapeutic drugs that work in the gastrointestinal (GI) tract to treat GI and cardio-renal diseases. The Company operates through research, development and commercialization of biopharmaceutical products segment.
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