ARDELYX, INC.
At today's price, ARDELYX, INC. (ARDX) is priced for -2.0% growth. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
• Ardelyx is a commercial-stage drugmaker built on two approved medicines: IBSRELA for irritable bowel syndrome with constipation, growing fast, and XPHOZAH for elevated phosphorus in dialysis patients, whose reimbursement is caught in a Medicare policy transition. • The surprising part of the valuation is how little it asks: at about four times revenue, the price assumes roughly flat revenue and an achievable long-run margin, not a moonshot, even though the business is still posting an operatin
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226 institutional managers reported holding ARDX in 13F filings for the quarter ended 2026-03-31. Together they hold about 69% of the company; the top 10 hold 44%. 38 opened new positions that quarter. Held by BlackRock, Vanguard Group, Millennium Management, among others. On the short side, 26.9M shares were sold short as of the 2026-06-15 count, about 11% of shares outstanding (8.6 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
ARDX's share count grew 145.8% over the past five years. It pays no dividend.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at ARDX over the trailing three years: 2024: 2 buys totaling $1.99M; 2025: 6 buys totaling $4.78M; 2026: 1 buy totaling $1.95M. 21 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
ARDX's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-03 | +4.2% | +1.0% |
| 2023-11-01 | +8.8% | +56.1% |
| 2024-02-23 | +2.1% | -26.0% |
| 2024-05-03 | +31.9% | -39.3% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
ARDX's latest 8-K filings: 2026-07-02 (items 2.03, 9.01); 2026-06-17 (items 5.02, 5.07); 2026-04-30 (items 2.02, 7.01, 9.01); 2026-02-19 (items 2.02, 7.01, 9.01); 2026-01-08 (items 2.02, 8.01, 9.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.