Ardelyx Inc. (NASDAQ:ARDX) SVP Elizabeth A. Grammer sold 6,859 shares of Ardelyx stock in a transaction on Monday, September 19th. The stock was sold at an average price of $11.21, for a total transaction of $76,889.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Ardelyx Inc. (NASDAQ:ARDX) opened at 11.83 on Friday. The stock’s market cap is $558.97 million. Ardelyx Inc. has a 52-week low of $6.36 and a 52-week high of $21.99. The firm has a 50 day moving average of $10.52 and a 200-day moving average of $8.98.
Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings data on Monday, August 8th. The biopharmaceutical company reported ($0.83) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.75) by $0.08. Equities analysts anticipate that Ardelyx Inc. will post ($3.03) earnings per share for the current fiscal year.
A number of analysts have recently issued reports on the stock. Wedbush reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Ardelyx in a report on Thursday, June 23rd. Cantor Fitzgerald reissued a “buy” rating on shares of Ardelyx in a research note on Wednesday, June 22nd. Zacks Investment Research downgraded shares of Ardelyx from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. Citigroup Inc. lowered their price target on shares of Ardelyx from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, August 10th. Finally, Leerink Swann reissued a “buy” rating on shares of Ardelyx in a research note on Thursday, June 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $20.00.
A number of institutional investors have recently bought and sold shares of the stock. BlackRock Fund Advisors boosted its position in Ardelyx by 0.9% in the second quarter. BlackRock Fund Advisors now owns 1,033,233 shares of the biopharmaceutical company’s stock valued at $9,020,000 after buying an additional 9,282 shares during the last quarter. Vanguard Group Inc. boosted its position in Ardelyx by 2.7% in the second quarter. Vanguard Group Inc. now owns 704,520 shares of the biopharmaceutical company’s stock valued at $6,151,000 after buying an additional 18,802 shares during the last quarter. Foresite Capital Management III LLC bought a new position in Ardelyx during the first quarter valued at $5,038,000. BlackRock Institutional Trust Company N.A. boosted its position in Ardelyx by 4.4% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 324,788 shares of the biopharmaceutical company’s stock valued at $2,835,000 after buying an additional 13,623 shares during the last quarter. Finally, Deerfield Management Co. bought a new position in Ardelyx during the first quarter valued at $2,137,000. 62.84% of the stock is owned by institutional investors.
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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