Insider transaction details
Ardelyx, Inc. (NASDAQ: ARDX) reported that director David Mott purchased 333,333 shares of the company's common stock on February 20, 2026, according to a Form 4 filing submitted to the Securities and Exchange Commission. The purchase was executed at a weighted average price of $5.839 per share, producing a total transaction value of $1,946,331. The per-share prices paid ranged from $5.67 to $6.00. After the trade, Mott's direct holdings in Ardelyx total 3,302,918 shares.
Market context cited in filing
The insider purchase occurred while the share price had declined nearly 15% over the prior week, based on InvestingPro data cited in the filing. The same InvestingPro analysis indicates the stock may be trading below its Fair Value, and notes analyst price targets spanning $13 to $19 per share. The filing points investors toward the Pro Research Report for more detailed valuation and analyst commentary for ARDX and other U.S. equities.
Recent corporate developments
Ardelyx has released several material updates in recent weeks that were highlighted alongside the insider transaction. The company pre-released fourth-quarter 2025 product revenue figures for Ibsrela and Xphozah and reaffirmed fiscal 2026 product revenue guidance. Specifically, Ardelyx maintained guidance for Ibsrela product revenue in fiscal 2026 of $410 million to $430 million, and for Xphozah product revenue of $110 million to $120 million.
In addition, Ardelyx announced issuance of a new patent for tenapanor, the active molecule in both Ibsrela and Xphozah, which the company said extends exclusivity to 2042. That patent development was followed by analyst moves: H.C. Wainwright raised its price target to $18.00 while keeping a Buy rating, and Raymond James reiterated a Strong Buy rating with a $19.00 price target.
Clinical and strategic updates
The company has also started a Phase 3 clinical trial for IBSRELA, studying its efficacy in treating chronic idiopathic constipation in adults. Separately, reports have circulated that Indian pharmaceutical company Zydus Life may be considering acquiring a controlling stake in Ardelyx or purchasing key molecules from its portfolio. The company and Zydus Life have not confirmed those reports.
Takeaway
The insider purchase by a board director comes amid downward short-term share price movement and simultaneous corporate developments that include confirmed mid-range revenue guidance, a patent extension that lengthens exclusivity to 2042, analyst target increases, and ongoing clinical progress. Market participants seeking valuation context are directed to the detailed Pro Research materials referenced by InvestingPro.