Ardelyx (NASDAQ:ARDX) Issues Quarterly Earnings Results, Hits Expectations

Ardelyx (NASDAQ:ARDX) released its quarterly earnings results on Thursday. The biopharmaceutical company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02, Zacks reports. Ardelyx had a negative net margin of 28.82% and a negative return on equity of 46.60%.

Ardelyx Price Performance

ARDX opened at $5.72 on Friday. The stock has a 50-day moving average price of $5.29 and a 200-day moving average price of $5.64. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87. The firm has a market cap of $1.35 billion, a PE ratio of -19.07 and a beta of 0.85. Ardelyx has a 1 year low of $4.32 and a 1 year high of $9.83.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on ARDX shares. Cantor Fitzgerald upgraded shares of Ardelyx to a “strong-buy” rating in a report on Thursday, January 30th. HC Wainwright restated a “neutral” rating and set a $5.50 target price on shares of Ardelyx in a report on Friday. Piper Sandler boosted their target price on shares of Ardelyx from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Jefferies Financial Group dropped their target price on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Finally, Citigroup dropped their target price on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $9.42.

Insider Transactions at Ardelyx

In other Ardelyx news, Director David M. Mott bought 199,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was acquired at an average price of $4.99 per share, with a total value of $993,010.00. Following the transaction, the director now owns 1,937,765 shares in the company, valued at $9,669,447.35. This represents a 11.44 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael Raab sold 41,666 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $5.36, for a total value of $223,329.76. Following the completion of the transaction, the chief executive officer now directly owns 1,108,719 shares of the company’s stock, valued at approximately $5,942,733.84. This trade represents a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,332 shares of company stock valued at $710,576 in the last quarter. 5.90% of the stock is owned by insiders.

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.