Ardelyx Inc. (ARDX) SVP Sells $90,000.00 in Stock
Ardelyx Inc. (NASDAQ:ARDX) SVP Jeffrey W. Jacobs sold 6,000 shares of the firm’s stock in a transaction on Tuesday, October 11th. The stock was sold at an average price of $15.00, for a total value of $90,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Ardelyx Inc. (NASDAQ:ARDX) opened at 13.63 on Friday. The stock has a 50 day moving average price of $11.89 and a 200 day moving average price of $9.55. The firm’s market cap is $644.02 million. Ardelyx Inc. has a 52 week low of $6.36 and a 52 week high of $20.98.
Ardelyx (NASDAQ:ARDX) last released its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of ($0.75) by $0.08. Equities research analysts expect that Ardelyx Inc. will post ($3.03) EPS for the current year.
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Institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. increased its position in Ardelyx by 36.8% in the second quarter. American International Group Inc. now owns 13,176 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 3,544 shares during the last quarter. Highbridge Capital Management LLC purchased a new position in Ardelyx during the second quarter valued at $129,000. Metropolitan Life Insurance Co. NY increased its position in Ardelyx by 57.2% in the first quarter. Metropolitan Life Insurance Co. NY now owns 19,529 shares of the biopharmaceutical company’s stock valued at $152,000 after buying an additional 7,103 shares during the last quarter. Sabby Management LLC purchased a new position in Ardelyx during the first quarter valued at $173,000. Finally, Rhumbline Advisers increased its position in Ardelyx by 25.7% in the second quarter. Rhumbline Advisers now owns 24,739 shares of the biopharmaceutical company’s stock valued at $216,000 after buying an additional 5,053 shares during the last quarter. 62.84% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on ARDX. Wedbush restated an “outperform” rating and issued a $24.00 price target on shares of Ardelyx in a research report on Thursday, June 23rd. Cantor Fitzgerald restated a “buy” rating on shares of Ardelyx in a research report on Wednesday, June 22nd. Zacks Investment Research downgraded Ardelyx from a “buy” rating to a “hold” rating in a research report on Friday, August 12th. Citigroup Inc. reduced their target price on Ardelyx from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, August 10th. Finally, Leerink Swann reiterated a “buy” rating on shares of Ardelyx in a research note on Thursday, June 23rd. One equities research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $20.67.
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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