Ardelyx chief legal officer sells $24,128 in stock

Elizabeth A. Grammer (ETR:GMMG), the Chief Legal and Administrative Officer of Ardelyx, Inc. (NASDAQ:ARDX), a $1.2 billion market cap company that has seen its stock decline over 12% in the past week, recently sold shares of the company’s stock. According to a filing with the Securities and Exchange Commission, Grammer sold 4,291 shares on February 20 at an average price of $5.623 per share, totaling approximately $24,128. This transaction was part of an automatic sell-to-cover arrangement to cover applicable withholding taxes. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 5.39, while achieving impressive revenue growth of 168% in the last twelve months. Following this sale, Grammer holds 181,043 shares directly. According to InvestingPro’s Fair Value analysis, Ardelyx appears undervalued at current levels, with additional insights available in the comprehensive Pro Research Report covering this stock.

In other recent news, Ardelyx Inc . reported its fourth-quarter 2024 earnings, surpassing expectations with an earnings per share of $0.02 against the forecasted $0.01. The company also exceeded revenue forecasts, reporting $116.1 million compared to the expected $108.58 million. This performance was driven by strong sales growth for its products IBZRILLA and EXPOSA, with IBZRILLA alone seeing a 32% growth from the previous quarter. Despite these positive earnings, H.C. Wainwright maintained a Neutral rating on Ardelyx with a price target of $5.50, reflecting a cautious outlook on the company’s near-term prospects. The analyst, Ed Arce, noted that while Ardelyx’s XPHOZAH sales increased by 11.1% in the fourth quarter, the drug faces challenges due to its upcoming exclusion from Medicare Part D. Ardelyx aims for XPHOZAH to achieve $750 million in annual U.S. net sales before its patent expires in 2034. The company’s strategic focus includes expanding its sales force and enhancing communication efforts to sustain growth. These developments come as Ardelyx navigates significant market changes and strives to meet its ambitious sales targets.

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