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Justin Renz, Chief Financial Officer of Ardelyx, Inc. (NASDAQ:ARDX), sold 5,171 shares of the company’s common stock on February 20, 2025. The shares were sold at a weighted average price of $5.623, totaling approximately $29,076. This transaction was conducted to cover withholding taxes upon the vesting of restricted stock units. Following this sale, Renz holds 285,968 shares directly in the $1.2 billion market cap company. The stock, which has declined about 13% over the past week, currently trades at $5.06 and appears undervalued according to InvestingPro analysis. The company maintains strong liquidity with a current ratio of 5.39 and has demonstrated impressive revenue growth of 168% in the last twelve months. For deeper insights into ARDX’s valuation and 8 additional key ProTips, visit InvestingPro.
In other recent news, Ardelyx Inc . reported its fourth-quarter 2024 earnings, surpassing market expectations with an earnings per share (EPS) of $0.02 against the forecasted $0.01. The company’s revenue also exceeded predictions, reaching $116.1 million compared to the anticipated $108.58 million. This performance was driven by strong product sales, particularly for IBZRILLA, which experienced a 32% growth from the previous quarter. The annual net sales for IBZRILLA were $158.3 million, while EXPOSA achieved $160.9 million in 2024. Despite these positive results, Ardelyx faces challenges, including the Medicare Part D exclusion for EXPOSA starting January 1, 2025, which may impact future sales. Analyst Ed Arce from H.C. Wainwright maintained a Neutral rating on Ardelyx with a price target of $5.50, reflecting a cautious outlook. Ardelyx aims for significant growth, targeting $750 million in annual U.S. net sales for EXPOSA before its patent expires in April 2034. The company plans to increase its sales and administrative expenses in 2025 to support growth initiatives.
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