Ardelyx, Inc. (NASDAQ:ARDX) Given Average Recommendation of “Buy” by Analysts

Shares of Ardelyx, Inc. (NASDAQ:ARDX) have earned an average recommendation of “Buy” from the twelve analysts that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and two have assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $14.3636.

A number of analysts have commented on ARDX shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Ardelyx in a report on Wednesday, January 21st. Jefferies Financial Group reaffirmed a “buy” rating and set a $15.00 target price on shares of Ardelyx in a research report on Tuesday, January 27th. Piper Sandler raised Ardelyx from a “neutral” rating to an “overweight” rating and increased their price target for the company from $10.00 to $16.00 in a research report on Thursday, January 8th. BTIG Research restated a “buy” rating and set a $17.00 price objective on shares of Ardelyx in a research note on Thursday, January 29th. Finally, Wedbush upped their target price on shares of Ardelyx from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st.

Insider Activity

In other Ardelyx news, insider Elizabeth A. Grammer sold 5,995 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $5.54, for a total value of $33,212.30. Following the completion of the sale, the insider owned 299,895 shares in the company, valued at approximately $1,661,418.30. This trade represents a 1.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Laura A. Williams sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $6.98, for a total value of $349,000.00. Following the completion of the transaction, the insider owned 361,563 shares in the company, valued at $2,523,709.74. The trade was a 12.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 114,868 shares of company stock valued at $708,369. 4.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in shares of Ardelyx by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 5,827,618 shares of the biopharmaceutical company’s stock worth $33,981,000 after purchasing an additional 70,832 shares during the period. Profund Advisors LLC increased its position in Ardelyx by 109.8% in the fourth quarter. Profund Advisors LLC now owns 145,333 shares of the biopharmaceutical company’s stock worth $847,000 after buying an additional 76,071 shares during the last quarter. ProShare Advisors LLC raised its stake in shares of Ardelyx by 11.4% in the fourth quarter. ProShare Advisors LLC now owns 54,531 shares of the biopharmaceutical company’s stock valued at $318,000 after buying an additional 5,595 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al raised its stake in Ardelyx by 65.7% in the 4th quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 41,750 shares of the biopharmaceutical company’s stock valued at $243,000 after acquiring an additional 16,550 shares during the period. Finally, AIGH Capital Management LLC raised its position in shares of Ardelyx by 479.3% in the fourth quarter. AIGH Capital Management LLC now owns 1,150,000 shares of the biopharmaceutical company’s stock valued at $6,704,000 after purchasing an additional 951,500 shares during the period. Institutional investors own 58.92% of the company’s stock.

Ardelyx Stock Up 0.1%

Ardelyx stock opened at $7.33 on Tuesday. The company has a current ratio of 4.41, a quick ratio of 4.11 and a debt-to-equity ratio of 1.31. Ardelyx has a 1-year low of $3.21 and a 1-year high of $8.40. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of -31.87 and a beta of 0.57. The firm’s fifty day moving average price is $6.60 and its two-hundred day moving average price is $5.97.

Ardelyx Company Profile

Ardelyx, Inc (NASDAQ: ARDX) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing targeted small molecule drugs for cardio‐renal and gastrointestinal diseases. The company’s lead marketed product, tenapanor (sold under the brand name XPHOZAH in the United States), is approved for the treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis. Ardelyx’s proprietary approach targets epithelial transporters in the gastrointestinal tract, offering localized activity with limited systemic exposure.

Beyond tenapanor, Ardelyx’s development pipeline includes treatments designed to address other complications in kidney disease and related metabolic disorders.