Wedbush Increases Ardelyx (NASDAQ:ARDX) Price Target to $15.00

Ardelyx (NASDAQ:ARDX) had its price objective increased by Wedbush from $14.00 to $15.00 in a research note published on Friday, Benzinga reports. Wedbush currently has an outperform rating on the biopharmaceutical company’s stock. Wedbush also issued estimates for Ardelyx’s Q2 2025 earnings at $0.08 EPS, Q3 2025 earnings at $0.13 EPS, Q4 2025 earnings at $0.17 EPS, FY2025 earnings at $0.37 EPS, FY2026 earnings at $1.01 EPS, FY2027 earnings at $1.44 EPS and FY2028 earnings at $1.87 EPS.

A number of other brokerages have also commented on ARDX. Raymond James raised their target price on shares of Ardelyx from $12.00 to $15.00 and gave the stock a strong-buy rating in a research report on Tuesday, January 9th. SVB Leerink began coverage on Ardelyx in a report on Friday, April 5th. They issued an outperform rating and a $14.00 price objective for the company. Leerink Partnrs reissued an outperform rating on shares of Ardelyx in a research note on Friday, April 5th. Citigroup increased their target price on Ardelyx from $9.00 to $14.00 and gave the company a buy rating in a research report on Wednesday, January 10th. Finally, Piper Sandler upped their price objective on Ardelyx from $12.00 to $15.00 and gave the stock an overweight rating in a research note on Friday, February 23rd. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $12.81.

Ardelyx Price Performance

Shares of ARDX stock opened at $8.72 on Friday. The stock has a 50 day moving average price of $7.67 and a 200 day moving average price of $6.83. Ardelyx has a 52-week low of $3.16 and a 52-week high of $10.13. The company has a debt-to-equity ratio of 0.30, a quick ratio of 4.64 and a current ratio of 4.88. The firm has a market capitalization of $2.04 billion, a P/E ratio of -31.14 and a beta of 0.87.

Ardelyx (NASDAQ:ARDX) last released its earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.02. The business had revenue of $46.00 million during the quarter, compared to the consensus estimate of $36.40 million. Ardelyx had a negative return on equity of 41.03% and a negative net margin of 41.36%. The business’s revenue for the quarter was up 303.5% compared to the same quarter last year. During the same period last year, the company earned ($0.13) earnings per share. As a group, sell-side analysts predict that Ardelyx will post -0.44 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Michael Raab sold 30,000 shares of Ardelyx stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $6.40, for a total value of $192,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,310,933 shares in the company, valued at approximately $8,389,971.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Ardelyx news, CEO Michael Raab sold 30,000 shares of Ardelyx stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $6.40, for a total transaction of $192,000.00. Following the completion of the sale, the chief executive officer now owns 1,310,933 shares of the company’s stock, valued at approximately $8,389,971.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Justin A. Renz sold 5,341 shares of the stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $8.75, for a total value of $46,733.75. Following the completion of the transaction, the chief financial officer now directly owns 304,835 shares in the company, valued at $2,667,306.25. The disclosure for this sale can be found here. Insiders have sold a total of 178,820 shares of company stock worth $1,400,524 in the last ninety days. 5.50% of the stock is owned by insiders.

Institutional Trading of Ardelyx

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Ardelyx by 0.9% during the third quarter. Vanguard Group Inc. now owns 11,565,800 shares of the biopharmaceutical company’s stock valued at $47,188,000 after purchasing an additional 97,951 shares during the period. Eventide Asset Management LLC boosted its position in Ardelyx by 152.5% in the 4th quarter. Eventide Asset Management LLC now owns 6,805,494 shares of the biopharmaceutical company’s stock worth $42,194,000 after purchasing an additional 4,110,494 shares in the last quarter. Rubric Capital Management LP boosted its holdings in Ardelyx by 60.5% during the fourth quarter. Rubric Capital Management LP now owns 4,012,753 shares of the biopharmaceutical company’s stock worth $24,879,000 after buying an additional 1,512,753 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in shares of Ardelyx in the third quarter worth about $9,384,000. Finally, Barclays PLC grew its position in shares of Ardelyx by 93.5% during the 3rd quarter. Barclays PLC now owns 1,895,327 shares of the biopharmaceutical company’s stock valued at $7,732,000 after acquiring an additional 915,971 shares during the period. 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.