TD Cowen Begins Coverage on Ardelyx (NASDAQ:ARDX)

Analysts at TD Cowen started coverage on shares of Ardelyx (NASDAQ:ARDX) in a report issued on Wednesday, Zacks reports. The brokerage set a “strong-buy” rating on the biopharmaceutical company’s stock.

ARDX has been the topic of several other research reports. Wedbush restated an “outperform” rating and set a $9.00 target price on shares of Ardelyx in a research report on Tuesday, August 18th. Piper Sandler lowered their target price on Ardelyx from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Monday, August 17th. Citigroup lowered their target price on Ardelyx from $14.00 to $11.00 and set a “buy” rating for the company in a report on Monday, August 10th. Zacks Research raised Ardelyx from a “strong sell” rating to a “hold” rating in a research note on Friday, October 16th. Finally, BTIG Research cut their price target on Ardelyx from $17.00 to $14.00 and set a “buy” rating on the stock in a report on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.90.

Ardelyx Price Performance

ARDX stock opened at $2.99 on Wednesday. The firm has a market cap of $751.60 million, a price-to-earnings ratio of -13.59 and a beta of 0.79. The company has a quick ratio of 3.15, a current ratio of 3.45 and a debt-to-equity ratio of 1.54. Ardelyx has a 12-month low of $2.95 and a 12-month high of $8.40. The company’s fifty day simple moving average is $3.37 and its 200 day simple moving average is $5.26.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). Ardelyx had a negative net margin of 11.85% and a negative return on equity of 35.30%. The firm had revenue of $120.88 million for the quarter, compared to the consensus estimate of $121.03 million. During the same period last year, the company posted ($0.08) EPS. The business’s revenue was up 34.3% compared to the same quarter last year. On average, analysts expect that Ardelyx will post -0.20 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Laura A. Williams sold 10,739 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $3.86, for a total transaction of $41,452.54. Following the completion of the sale, the insider owned 367,456 shares in the company, valued at $1,418,380.16. The trade was a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider James Brady sold 15,136 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $3.86, for a total value of $58,424.96. Following the completion of the transaction, the insider owned 245,930 shares in the company, valued at approximately $949,289.80. This represents a 5.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 126,059 shares of company stock valued at $486,588. 5.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Ardelyx

Hedge funds and other institutional investors have recently bought and sold shares of the business. Knott David M Jr acquired a new position in Ardelyx during the first quarter worth $1,240,000. AIGH Capital Management LLC bought a new position in shares of Ardelyx in the second quarter valued at $16,320,000. Rubric Capital Management LP bought a new position in shares of Ardelyx in the first quarter valued at $11,147,000. Clay Northam Wealth Management LLC acquired a new position in shares of Ardelyx during the second quarter valued at about $1,704,000. Finally, J. Goldman & Co LP acquired a new position in shares of Ardelyx during the second quarter valued at about $8,057,000. Institutional investors own 58.92% of the company’s stock.

Ardelyx News Roundup

Here are the key news stories impacting Ardelyx this week:

• Positive Sentiment: Ardelyx reported third-quarter EPS of $0.00, ahead of analysts’ expectation of a $0.02 loss. Product revenue was $125.5 million, while total revenue of $127.66 million came in slightly below estimates; revenue grew 21% year over year. The company maintained its 2026 IBSRELA revenue outlook of $350 million to $370 million. Ardelyx Q3 earnings
• Positive Sentiment: HC Wainwright raised its Q4 2026 EPS estimate to $0.04 from $0.01 and its FY2026 estimate to a loss of $0.18 per share from a loss of $0.26. The firm kept its Buy rating and $13 price target. TD Cowen also reaffirmed its Buy rating. TD Cowen rating
• Neutral Sentiment: The company completed enrollment in its Phase 3 ACCEL trial of IBSRELA for adults with chronic idiopathic constipation, an operational milestone ahead of future trial updates. ACCEL trial enrollment
• Negative Sentiment: HC Wainwright cut its EPS forecasts for FY2027, FY2029 and FY2030, including a reduction for FY2029 to $1.18 from $1.56. The longer-term estimate revisions temper the improvement in its near-term outlook.
• Negative Sentiment: Multiple law firms publicized a securities class action against Ardelyx, with a November 16 lead-plaintiff deadline. The lawsuit alleges the company misrepresented payer access and reimbursement barriers affecting IBSRELA and XPHOZAH; these claims are allegations, not established findings. Litigation adds uncertainty and reputational risk. Class action allegations

About Ardelyx

Ardelyx, Inc is a biopharmaceutical company focused on developing and commercializing therapies for gastrointestinal and cardiorenal diseases. The company’s platform is centered on regulating ion transport in the gut, with the goal of addressing conditions that are inadequately served by existing treatments.

Ardelyx’s marketed products include IBSRELA (tenapanor), an oral treatment for adults with irritable bowel syndrome with constipation, and XPHOZAH (tenapanor), a therapy designed to reduce serum phosphorus in adults with chronic kidney disease on dialysis who have an inadequate response to, or are intolerant of, phosphate binders.