On February 20, 2026, Brady James Parker, Ardelyx, Inc.'s Chief Human Resources Officer, completed two open-market sales totaling 2,543 shares of the biopharmaceutical company's common stock. The disposals were recorded in two tranches - 2,234 shares sold at $5.865 per share and a further 309 shares sold at $5.7138 per share - producing aggregate proceeds of $14,867.
Following the transactions, Parker's direct holdings in Ardelyx stand at 262,912 shares of common stock. Company filings indicate the sales were executed specifically to meet applicable withholding tax obligations arising from the vesting of restricted stock units.
The trades occurred against a backdrop of recent weakness in Ardelyx's share price. Over the prior week the stock had fallen by nearly 15%, and at the time of the filings it was trading at $5.75 with a market capitalization of approximately $1.42 billion.
Company operational and regulatory updates
Ardelyx has publicly pre-released fourth-quarter 2025 revenue figures for its two marketed drugs, IBSRELA and XPHOZAH, and has reaffirmed its fiscal 2026 revenue guidance. Management's guidance calls for IBSRELA revenue in a range of $410 million to $430 million and XPHOZAH revenue between $110 million and $120 million for fiscal 2026.
Separately, the U.S. Patent and Trademark Office issued a new patent for tenapanor, the active ingredient in both marketed products. The company notes that the patent could potentially extend exclusivity for tenapanor until 2042.
On the clinical front, Ardelyx has launched a Phase 3 trial of IBSRELA intended to address chronic idiopathic constipation, with planned enrollment of roughly 700 patients.
Analyst actions and market commentary
Following the patent issuance and other company updates, H.C. Wainwright raised its price target for Ardelyx to $18.00 while maintaining a Buy rating. Raymond James reiterated a Strong Buy rating and kept a $19.00 price target. Separately, analysis available on investing platforms has suggested ARDX may be undervalued at current levels.
Potential strategic interest and remaining uncertainties
Media reports have indicated that Zydus Life, an Indian pharmaceutical company, may be contemplating either acquiring a controlling stake in Ardelyx or purchasing key molecules from its portfolio. Neither Ardelyx nor Zydus Life has confirmed those reports, and Zydus Life characterized the coverage as speculative.
Taken together, the insider stock sale to cover tax liabilities, the companys maintained revenue guidance and patent issuance, and the unverified acquisition reports create a mixed but active corporate picture for investors following ARDX. The transactions by Parker were limited in scale relative to his total holdings and were disclosed as tax-related;
the broader commercial and regulatory developments are continuing to evolve.