Ardelyx, Inc. (NASDAQ:ARDX) Given Consensus Rating of “Moderate Buy” by Brokerages

Ardelyx, Inc. (NASDAQ:ARDX) has received a consensus rating of “Moderate Buy” from the eight ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $10.42.

Several equities research analysts have recently issued reports on the stock. Citigroup decreased their price objective 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. HC Wainwright downgraded Ardelyx from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $11.00 to $5.50 in a report on Monday, November 11th.

Ardelyx Stock Performance

Shares of ARDX opened at $5.32 on Thursday. Ardelyx has a 1 year low of $4.34 and a 1 year high of $10.13. The stock has a market capitalization of $1.26 billion, a PE ratio of -17.73 and a beta of 0.83. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.87 and a current ratio of 4.03. The stock has a 50-day simple moving average of $5.63 and a 200-day simple moving average of $5.93.

Insider Buying and Selling at Ardelyx

In other Ardelyx news, CFO Justin A. Renz sold 5,260 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $4.79, for a total transaction of $25,195.40. Following the sale, the chief financial officer now directly owns 291,139 shares in the company, valued at approximately $1,394,555.81. The trade was a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Laura A. Williams sold 7,366 shares of Ardelyx stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $4.79, for a total value of $35,283.14. Following the transaction, the insider now directly owns 308,745 shares of the company’s stock, valued at $1,478,888.55. This trade represents a 2.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 217,068 shares of company stock worth $1,276,291. 5.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ardelyx

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARDX. Nisa Investment Advisors LLC lifted its position in shares of Ardelyx by 1,026.3% in the second quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 3,233 shares in the last quarter. Redwood Wealth Management Group LLC purchased a new position in Ardelyx in the 2nd quarter valued at about $62,000. Coastal Bridge Advisors LLC acquired a new stake in shares of Ardelyx during the 2nd quarter worth about $74,000. Helen Stephens Group LLC purchased a new stake in shares of Ardelyx during the third quarter worth about $76,000. Finally, CWM LLC raised its position in shares of Ardelyx by 328.1% in the third quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock valued at $88,000 after buying an additional 9,821 shares during the last quarter. Institutional investors and hedge funds own 58.92% of the company’s stock.

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.