David M. Mott Buys 199,000 Shares of Ardelyx, Inc. (NASDAQ:ARDX) Stock

Ardelyx, Inc. (NASDAQ:ARDX) Director David M. Mott purchased 199,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was bought at an average price of $4.99 per share, for a total transaction of $993,010.00. Following the completion of the acquisition, the director now owns 1,937,765 shares of the company’s stock, valued at approximately $9,669,447.35. The trade was a 11.44 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

Ardelyx Trading Up 9.1 %

ARDX opened at $5.51 on Friday. The company has a current ratio of 4.03, a quick ratio of 3.87 and a debt-to-equity ratio of 0.64. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -18.37 and a beta of 0.85. Ardelyx, Inc. has a 12 month low of $4.32 and a 12 month high of $10.13. The stock has a fifty day moving average price of $5.17 and a 200-day moving average price of $5.65.

Hedge Funds Weigh In On Ardelyx

A number of large investors have recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Ardelyx by 1.5% in the 3rd quarter. State Street Corp now owns 12,141,850 shares of the biopharmaceutical company’s stock worth $83,657,000 after buying an additional 176,789 shares during the last quarter. Rubric Capital Management LP boosted its stake in Ardelyx by 68.5% in the third quarter. Rubric Capital Management LP now owns 3,060,191 shares of the biopharmaceutical company’s stock valued at $21,085,000 after acquiring an additional 1,243,606 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in Ardelyx by 274.3% in the third quarter. BNP Paribas Financial Markets now owns 181,387 shares of the biopharmaceutical company’s stock worth $1,250,000 after purchasing an additional 132,928 shares during the last quarter. Vestal Point Capital LP purchased a new position in Ardelyx in the third quarter worth $3,445,000. Finally, JPMorgan Chase & Co. increased its position in shares of Ardelyx by 1.6% during the third quarter. JPMorgan Chase & Co. now owns 387,144 shares of the biopharmaceutical company’s stock worth $2,667,000 after purchasing an additional 6,093 shares in the last quarter. 58.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on ARDX. 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 research note on Monday, November 4th. Jefferies Financial Group reduced their price objective on Ardelyx from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Finally, HC Wainwright reiterated a “neutral” rating and issued a $5.50 target price on shares of Ardelyx in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.25.

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.