Mark Kaufmann Sells 20,000 Shares of Ardelyx Inc (NASDAQ:ARDX) Stock

Ardelyx Inc (NASDAQ:ARDX) CFO Mark Kaufmann sold 20,000 shares of the firm’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $4.56, for a total transaction of $91,200.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Shares of NASDAQ:ARDX traded down $0.05 during trading on Tuesday, reaching $4.50. The stock had a trading volume of 314,300 shares, compared to its average volume of 471,355. Ardelyx Inc has a 52 week low of $1.60 and a 52 week high of $6.78. The business’s 50-day moving average price is $4.54 and its 200 day moving average price is $3.27. The company has a debt-to-equity ratio of 0.77, a current ratio of 7.79 and a quick ratio of 7.79. The stock has a market capitalization of $285.74 million, a PE ratio of -2.78 and a beta of 1.76.

Ardelyx (NASDAQ:ARDX) last posted its earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). The firm had revenue of $0.02 million for the quarter, compared to the consensus estimate of $0.60 million. Analysts forecast that Ardelyx Inc will post -1.56 EPS for the current year.



Several large investors have recently bought and sold shares of ARDX. BlackRock Inc. raised its stake in shares of Ardelyx by 7.4% in the second quarter. BlackRock Inc. now owns 3,627,433 shares of the biopharmaceutical company’s stock valued at $9,758,000 after acquiring an additional 249,537 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Ardelyx by 6.0% in the second quarter. Renaissance Technologies LLC now owns 2,100,070 shares of the biopharmaceutical company’s stock valued at $5,649,000 after acquiring an additional 118,468 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of Ardelyx by 16.1% in the second quarter. D. E. Shaw & Co. Inc. now owns 809,476 shares of the biopharmaceutical company’s stock valued at $2,177,000 after acquiring an additional 111,963 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Ardelyx by 89.7% in the second quarter. Bank of America Corp DE now owns 195,675 shares of the biopharmaceutical company’s stock valued at $527,000 after acquiring an additional 92,510 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of Ardelyx by 81.9% in the first quarter. Acadian Asset Management LLC now owns 100,564 shares of the biopharmaceutical company’s stock valued at $282,000 after acquiring an additional 45,280 shares during the last quarter. Institutional investors own 72.82% of the company’s stock.

A number of research analysts have commented on the stock. Svb Leerink raised their price target on shares of Ardelyx from $8.00 to $9.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Leerink Swann set a $9.00 price target on shares of Ardelyx and gave the stock a “buy” rating in a research note on Tuesday, September 24th. Zacks Investment Research cut shares of Ardelyx from a “hold” rating to a “sell” rating in a research note on Monday. ValuEngine cut shares of Ardelyx from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 2nd. Finally, Piper Jaffray Companies set a $15.00 price target on shares of Ardelyx and gave the stock a “buy” rating in a research note on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. Ardelyx currently has an average rating of “Hold” and an average target price of $8.81.

About Ardelyx

Ardelyx, Inc, a specialized biopharmaceutical company, develops and sells medicines for the treatment of cardio renal diseases in the United States and internationally. The company's lead product candidate is tenapanor, which has completed Phase III clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase III clinical trial for the treatment of hyperphosphatemia in end-stage renal disease patients on dialysis.

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