Symbols / ARDX $6.30 -2.33% Ardelyx, Inc.

Healthcare • Biotechnology • United States • NGM
ARDX Chart
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About

Ardelyx, Inc. discovers, develops, and commercializes medicines to treat unmet medical needs in the United States and internationally. The company offers IBSRELA, a minimally absorbed small molecule therapy for the treatment of patients with irritable bowel syndrome with constipation; and XPHOZAH, a phosphate absorption inhibitor to reduce serum phosphorus in adults with chronic kidney disease on dialysis. Ardelyx, Inc. was formerly known as Nteryx, Inc. and changed its name to Ardelyx, Inc. in June 2008. The company was incorporated in 2007 and is headquartered in Waltham, Massachusetts.

Fundamentals
Scroll to Statements
Market Cap 1.55B Enterprise Value 1.51B Income -61.60M Sales 407.32M Book/sh 0.68 Cash/sh 1.08
Dividend Yield — Payout 0.00% Employees 489 IPO — P/E — Forward P/E 11.97
PEG — P/S 3.79 P/B 9.22 P/C — EV/EBITDA -39.93 EV/Sales 3.72
Quick Ratio 3.80 Current Ratio 4.32 Debt/Eq 140.06 LT Debt/Eq — EPS (ttm) -0.26 EPS next Y 0.53
EPS Growth — Revenue Growth 7.80% Earnings 2026-04-30 ROA -5.46% ROE -36.21% ROIC —
Gross Margin 72.73% Oper. Margin 4.07% Profit Margin -15.12% Shs Outstand 245.25M Shs Float 222.58M Short Float 11.26%
Short Ratio 7.43 Short Interest — 52W High 8.40 52W Low 3.21 Beta 0.66 Avg Volume 3.61M
Volume 3.02M Target Price $16.10 Recom Strong_buy Prev Close $6.45 Price $6.30 Change -2.33%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$16.10
Mean price target
2. Current target
$6.30
Latest analyst target
3. DCF / Fair value
$0.50
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$6.30
Low
$13.00
High
$19.00
Mean
$16.10

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-02-23 reit Wedbush Outperform → Outperform $19
2026-02-20 main HC Wainwright & Co. Buy → Buy $18
2026-02-20 reit BTIG Buy → Buy $17
2026-01-29 reit BTIG Buy → Buy $17
2026-01-21 main Wedbush Outperform → Outperform $19
2026-01-09 main Citigroup Buy → Buy $14
2026-01-09 up Piper Sandler Neutral → Overweight $16
2026-01-09 main BTIG Buy → Buy $17
2025-11-04 main Piper Sandler Neutral → Neutral $10
2025-11-03 main Citigroup Buy → Buy $11
2025-10-31 main TD Cowen Buy → Buy $10
2025-08-06 main Piper Sandler Neutral → Neutral $9
2025-08-05 main Wedbush Outperform → Outperform $14
2025-08-05 main Raymond James Outperform → Outperform $12
2025-05-02 main Citigroup Buy → Buy $10
2025-03-07 init Scotiabank — → Sector Outperform $15
2025-02-21 reit Raymond James Strong Buy → Strong Buy $13
2025-02-21 reit HC Wainwright & Co. Neutral → Neutral $6
2025-01-27 main Piper Sandler Neutral → Neutral $8
2025-01-16 reit HC Wainwright & Co. Neutral → Neutral $6
News
RSS: Latest ARDX news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-04-15 RAAB MICHAEL G Chief Executive Officer — 41,668 $6.29 $261,954
2026-04-15 RAAB MICHAEL G Chief Executive Officer — 20,834 $0.99 $20,626
2026-03-16 RAAB MICHAEL G Chief Executive Officer — 41,666 $5.84 $243,329
2026-03-16 RAAB MICHAEL G Chief Executive Officer — 20,833 $0.99 $20,625
2026-02-24 RAAB MICHAEL G Chief Executive Officer — 41,666 $6.26 $260,621
2026-02-24 RAAB MICHAEL G Chief Executive Officer — 20,833 $0.99 $20,625
2026-02-20 BISHOP JOHN E Chief Operating Officer — 3,179 $5.70 $18,586
2026-02-20 RAAB MICHAEL G Chief Executive Officer — 45,982 $5.70 $268,841
2026-02-20 MOTT DAVID M Director — 333,333 $5.84 $1,946,331
2026-02-20 WILLIAMS LAURA A Officer — 8,176 $5.71 $47,803
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
407.32
+22.09%
333.62
+168.06%
124.46
+138.61%
52.16
Operating Revenue
407.32
+22.09%
333.62
+168.06%
124.46
+138.61%
52.16
Cost Of Revenue
39.54
-21.80%
50.56
+184.10%
17.80
+332.23%
4.12
Reconciled Cost Of Revenue
39.54
-21.80%
50.56
+184.10%
17.80
+332.23%
4.12
Gross Profit
367.78
+29.93%
283.06
+165.38%
106.66
+122.02%
48.04
Operating Expense
408.76
+31.43%
311.01
+83.01%
169.94
+52.00%
111.80
Research And Development
71.53
+36.72%
52.32
+47.22%
35.54
+0.95%
35.20
Selling General And Administration
337.23
+30.36%
258.69
+92.48%
134.40
+75.46%
76.60
General And Administrative Expense
—
—
—
76.60
Other Gand A
—
—
—
76.60
Total Expenses
448.30
+23.99%
361.56
+92.60%
187.73
+61.95%
115.92
Operating Income
-40.98
-46.61%
-27.95
+55.83%
-63.28
+0.76%
-63.76
Total Operating Income As Reported
-40.98
-46.61%
-27.95
+55.83%
-63.28
+0.76%
-63.76
EBITDA
-29.17
-74.55%
-16.71
+69.81%
-55.35
+9.23%
-60.98
Normalized EBITDA
-29.17
-74.55%
-16.71
+69.81%
-55.35
+9.23%
-60.98
Reconciled Depreciation
3.06
+48.28%
2.06
+59.67%
1.29
+12.94%
1.14
EBIT
-32.23
-71.67%
-18.78
+66.85%
-56.65
+8.82%
-62.13
Net Income
-61.60
-57.40%
-39.14
+40.76%
-66.07
+1.70%
-67.21
Pretax Income
-60.63
-55.98%
-38.87
+40.67%
-65.52
+2.50%
-67.20
Net Non Operating Interest Income Expense
-28.40
-41.33%
-20.09
-126.44%
-8.87
-74.93%
-5.07
Interest Expense Non Operating
28.40
+41.33%
20.09
+126.44%
8.87
+74.93%
5.07
Net Interest Income
-28.40
-41.33%
-20.09
-126.44%
-8.87
-74.93%
-5.07
Interest Expense
28.40
+41.33%
20.09
+126.44%
8.87
+74.93%
5.07
Other Income Expense
8.74
-4.68%
9.17
+38.37%
6.63
+306.00%
1.63
Other Non Operating Income Expenses
8.74
-4.68%
9.17
+38.37%
6.63
+306.00%
1.63
Tax Provision
0.97
+264.29%
0.27
-51.37%
0.55
+6737.50%
0.01
Tax Rate For Calcs
0.00
+0.00%
0.00
+0.00%
0.00
+0.00%
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
0.00
Net Income Including Noncontrolling Interests
-61.60
-57.40%
-39.14
+40.76%
-66.07
+1.70%
-67.21
Net Income From Continuing Operation Net Minority Interest
-61.60
-57.40%
-39.14
+40.76%
-66.07
+1.70%
-67.21
Net Income From Continuing And Discontinued Operation
-61.60
-57.40%
-39.14
+40.76%
-66.07
+1.70%
-67.21
Net Income Continuous Operations
-61.60
-57.40%
-39.14
+40.76%
-66.07
+1.70%
-67.21
Normalized Income
-61.60
-57.40%
-39.14
+40.76%
-66.07
+1.70%
-67.21
Net Income Common Stockholders
-61.60
-57.40%
-39.14
+40.76%
-66.07
+1.70%
-67.21
Diluted EPS
-0.26
-52.94%
-0.17
+43.33%
-0.30
+28.57%
-0.42
Basic EPS
-0.26
-52.94%
-0.17
+43.33%
-0.30
+28.57%
-0.42
Basic Average Shares
241.03
+2.47%
235.23
+7.25%
219.33
+38.21%
158.69
Diluted Average Shares
241.03
+2.47%
235.23
+7.25%
219.33
+38.21%
158.69
Diluted NI Availto Com Stockholders
-61.60
-57.40%
-39.14
+40.76%
-66.07
+1.70%
-67.21
Line Item Trend 2023-12-31
Total Assets
297.58
Current Assets
246.11
Cash Cash Equivalents And Short Term Investments
184.30
Cash And Cash Equivalents
21.47
Cash Equivalents
18.64
Cash Financial
2.83
Other Short Term Investments
162.83
Receivables
22.03
Accounts Receivable
22.03
Inventory
12.45
Prepaid Assets
18.93
Other Current Assets
8.41
Total Non Current Assets
51.47
Net PPE
6.60
Gross PPE
16.80
Accumulated Depreciation
-10.20
Properties
0.00
Machinery Furniture Equipment
2.43
Other Properties
5.63
Leases
8.73
Investments And Advances
—
Non Current Prepaid Assets
4.24
Other Non Current Assets
40.63
Total Liabilities Net Minority Interest
130.76
Current Liabilities
50.39
Payables And Accrued Expenses
21.30
Payables
11.14
Accounts Payable
11.14
Current Accrued Expenses
10.16
Pensionand Other Post Retirement Benefit Plans Current
12.60
Current Debt And Capital Lease Obligation
4.43
Current Debt
—
Other Current Borrowings
—
Current Capital Lease Obligation
4.43
Current Deferred Liabilities
7.18
Current Deferred Revenue
7.18
Other Current Liabilities
4.88
Total Non Current Liabilities Net Minority Interest
80.37
Long Term Debt And Capital Lease Obligation
51.55
Long Term Debt
49.82
Long Term Capital Lease Obligation
1.73
Non Current Deferred Liabilities
28.82
Non Current Deferred Revenue
8.64
Stockholders Equity
166.82
Common Stock Equity
166.82
Capital Stock
0.02
Common Stock
0.02
Preferred Stock
0.00
Share Issued
232.45
Ordinary Shares Number
232.45
Treasury Shares Number
0.00
Additional Paid In Capital
1,012.77
Retained Earnings
-846.20
Gains Losses Not Affecting Retained Earnings
0.22
Other Equity Adjustments
0.22
Total Equity Gross Minority Interest
166.82
Total Capitalization
216.64
Working Capital
195.72
Invested Capital
216.64
Total Debt
55.98
Net Debt
28.35
Capital Lease Obligations
6.16
Net Tangible Assets
166.82
Tangible Book Value
166.82
Interest Payable
—
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
-42.48
+5.19%
-44.81
+50.06%
-89.72
-28.09%
-70.04
Cash Flow From Continuing Operating Activities
-42.48
+5.19%
-44.81
+50.06%
-89.72
-28.09%
-70.04
Net Income From Continuing Operations
-61.60
-57.40%
-39.14
+40.76%
-66.07
+1.70%
-67.21
Depreciation Amortization Depletion
3.06
+48.28%
2.06
+59.67%
1.29
+12.94%
1.14
Depreciation
—
—
—
—
Depreciation And Amortization
3.06
+48.28%
2.06
+59.67%
1.29
+12.94%
1.14
Other Non Cash Items
-1.55
-138.33%
4.05
-17.54%
4.91
-19.50%
6.10
Stock Based Compensation
48.96
+30.98%
37.38
+176.28%
13.53
+25.86%
10.75
Operating Gains Losses
—
—
—
-1.26
Gain Loss On Investment Securities
—
—
—
0.58
Gain Loss On Sale Of PPE
—
0.00
0.00
+100.00%
-1.26
Change In Working Capital
-31.35
+36.24%
-49.17
-13.33%
-43.39
-121.64%
-19.57
Change In Receivables
-14.14
+60.35%
-35.67
-149.50%
-14.30
-97.73%
-7.23
Changes In Account Receivables
-14.14
+60.35%
-35.67
-149.50%
-14.30
-97.73%
-7.23
Change In Inventory
-31.92
+23.44%
-41.70
-97.23%
-21.14
+25.42%
-28.35
Change In Prepaid Assets
-2.39
-206.92%
2.24
+114.33%
-15.63
-739.31%
-1.86
Change In Payables And Accrued Expense
21.95
-22.88%
28.46
+215.54%
9.02
-29.79%
12.85
Change In Accrued Expense
18.71
-20.70%
23.60
+169.99%
8.74
+39.53%
6.26
Change In Payable
3.23
-33.46%
4.86
+1642.65%
0.28
-95.76%
6.58
Change In Account Payable
3.23
-33.46%
4.86
+1642.65%
0.28
-95.76%
6.58
Change In Other Working Capital
-3.01
-244.02%
2.09
-19.23%
2.59
-69.56%
8.51
Change In Other Current Liabilities
-1.83
+60.18%
-4.59
-16.80%
-3.93
-12.52%
-3.49
Investing Cash Flow
-8.96
+51.09%
-18.32
+86.04%
-131.25
-812.72%
18.41
Cash Flow From Continuing Investing Activities
-8.96
+51.09%
-18.32
+86.04%
-131.25
-812.72%
18.41
Net PPE Purchase And Sale
-1.49
-47.58%
-1.01
-193.90%
-0.34
-119.74%
1.74
Purchase Of PPE
-1.49
-47.58%
-1.01
-193.90%
-0.34
-525.45%
-0.06
Sale Of PPE
—
0.00
0.00
-100.00%
1.80
Capital Expenditure
-1.49
-47.58%
-1.01
-193.90%
-0.34
-525.45%
-0.06
Net Investment Purchase And Sale
-7.47
+56.86%
-17.31
+86.78%
-130.90
-885.17%
16.67
Purchase Of Investment
-218.92
-12.18%
-195.16
+9.32%
-215.22
-327.64%
-50.33
Sale Of Investment
211.46
+18.89%
177.85
+110.92%
84.32
+25.85%
67.00
Financing Cash Flow
54.51
-48.86%
106.59
-27.14%
146.29
+94.18%
75.34
Cash Flow From Continuing Financing Activities
54.51
-48.86%
106.59
-27.14%
146.29
+94.18%
75.34
Net Issuance Payments Of Debt
48.67
-51.06%
99.45
+344.26%
22.39
+468.98%
-6.07
Issuance Of Debt
48.67
-51.06%
99.45
+344.26%
22.39
-17.00%
26.97
Repayment Of Debt
—
0.00
0.00
+100.00%
-33.04
Long Term Debt Issuance
48.67
-51.06%
99.45
+344.26%
22.39
-17.00%
26.97
Long Term Debt Payments
—
0.00
0.00
+100.00%
-33.04
Net Long Term Debt Issuance
48.67
-51.06%
99.45
+344.26%
22.39
+468.98%
-6.07
Net Common Stock Issuance
0.00
0.00
-100.00%
119.24
+66.47%
71.62
Proceeds From Stock Option Exercised
5.84
-28.23%
8.14
+593.78%
1.17
+480.69%
0.20
Net Other Financing Charges
—
-1.00
-128.57%
3.50
-63.47%
9.58
Changes In Cash
3.07
-92.94%
43.46
+158.21%
-74.67
-414.90%
23.71
Beginning Cash Position
64.93
+202.43%
21.47
-77.67%
96.14
+32.74%
72.43
End Cash Position
68.00
+4.72%
64.93
+202.43%
21.47
-77.67%
96.14
Free Cash Flow
-43.98
+4.03%
-45.82
+49.12%
-90.06
-28.48%
-70.10
Interest Paid Supplemental Data
15.72
+37.77%
11.41
+169.06%
4.24
+46.16%
2.90
Income Tax Paid Supplemental Data
0.48
+82.33%
0.27
+421.57%
0.05
+750.00%
0.01
Amortization Of Securities
—
—
—
—
Common Stock Issuance
0.00
0.00
-100.00%
119.24
+66.47%
71.62
Issuance Of Capital Stock
0.00
0.00
-100.00%
119.24
+66.47%
71.62
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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