Tonix Pharmaceuticals stock halted ahead of FDA approval news
Laura A. Williams, Chief Medical (TASE:BLWV) Officer of Ardelyx, Inc. (NASDAQ:ARDX), a biotech company that has shown impressive revenue growth of 127% over the last twelve months according to InvestingPro, recently sold 6,421 shares of the company’s common stock. The shares were sold at an average price of $4.0814, amounting to a total transaction value of $26,206. Following this transaction, Williams holds 402,583 shares directly. The sale was executed to cover applicable withholding taxes related to the vesting of restricted stock units. With a strong financial health score and analysts setting price targets between $8-15, InvestingPro data suggests the stock may be undervalued at current levels. Subscribers can access 8 additional ProTips and a comprehensive research report for deeper insights.
In other recent news, Ardelyx Inc . reported its first-quarter 2025 earnings, revealing a net loss of $0.17 per share, which was below the forecasted loss of $0.11 per share. The company’s revenue reached $74.1 million, falling short of the expected $78.09 million. Despite strong year-over-year revenue growth of 61%, the earnings miss raised concerns among investors. Ardelyx presented new data at the Digestive Disease Week Conference on its drug IBSRELA, highlighting its potential benefits for patients with irritable bowel syndrome with constipation (IBS-C). The company also showcased interim safety data from a Phase 3 study in pediatric patients, reporting no serious adverse events.
Additionally, Raymond (NSE:RYMD) James analyst Ryan Deschner downgraded Ardelyx’s stock rating from "Strong Buy" to "Outperform" and lowered the price target from $13.00 to $11.00. This decision was influenced by weaker-than-expected net sales of Ardelyx’s Ibsrela and Xphozah franchises and increased SG&A expenses. Despite these challenges, Ardelyx management remains optimistic, maintaining their 2025 guidance for Ibsrela net sales between $240 million and $250 million and peak sales guidance for Xphozah at $750 million. The company continues to focus on expanding its market presence and maximizing sales potential for its core products.
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