Ardelyx director David Mott buys $388,738 in common stock

David Mott, a director at Ardelyx, Inc. (NASDAQ:ARDX), recently acquired 77,729 shares of the company’s common stock. The purchase, executed on February 24, 2025, was made at an average price of $5.0012 per share, totaling approximately $388,738. The timing is notable as the stock has declined nearly 11% over the past week, according to InvestingPro data. The transaction was carried out in multiple trades, with prices ranging from $4.90 to $5.10 per share. Following this acquisition, Mott’s total direct ownership in Ardelyx stands at 2,015,494 shares. With a market capitalization of $1.21 billion and strong liquidity metrics showing current assets at 4.58 times short-term obligations, the company appears financially stable. InvestingPro analysis suggests the stock is currently undervalued, while analyst targets range from $5.50 to $15.00 per share. Discover more insights and 8 additional ProTips for ARDX with an InvestingPro subscription.

In other recent news, Ardelyx Inc . reported its fourth-quarter 2024 earnings, surpassing market expectations with an earnings per share of $0.02, compared to the forecasted $0.01. The company also exceeded revenue forecasts, reporting $116.1 million against an expected $108.58 million. Ardelyx experienced strong product sales, particularly for IBZRILLA, which saw a 32% growth from the previous quarter. Additionally, Ardelyx announced that China’s Center for Drug Evaluation approved its drug tenapanor, designed for dialysis patients with chronic kidney disease, triggering a $5 million milestone payment from its partner Fosun Pharma. In analyst updates, H.C. Wainwright maintained a Neutral rating on Ardelyx with a price target of $5.50, reflecting a cautious outlook amid challenges such as the exclusion of XPHOZAH from Medicare Part D starting January 2025. The company’s management aims for XPHOZAH to achieve annual U.S. net sales revenue of $750 million before its patent expires in April 2034. These developments highlight Ardelyx’s ongoing efforts to navigate market changes and meet ambitious sales goals.

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