FY2027 EPS Estimates for Ardelyx Lifted by Leerink Partnrs

Ardelyx, Inc. (NASDAQ:ARDX) – Equities research analysts at Leerink Partnrs increased their FY2027 EPS estimates for Ardelyx in a research report issued on Wednesday, December 4th. Leerink Partnrs analyst R. Ruiz now expects that the biopharmaceutical company will earn $0.99 per share for the year, up from their prior estimate of $0.95. The consensus estimate for Ardelyx’s current full-year earnings is ($0.18) per share.

Several other research firms have also recently commented on ARDX. HC Wainwright cut Ardelyx from a “buy” rating to a “neutral” rating and lowered their target price for the company from $11.00 to $5.50 in a research note on Monday, November 11th. Citigroup decreased their price target on Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Ardelyx has a consensus rating of “Moderate Buy” and an average target price of $10.42.

Ardelyx Stock Performance

Shares of Ardelyx stock opened at $5.72 on Friday. The firm has a 50 day simple moving average of $5.72 and a 200 day simple moving average of $5.98. Ardelyx has a fifty-two week low of $4.34 and a fifty-two week high of $10.13. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87. The firm has a market cap of $1.35 billion, a P/E ratio of -19.07 and a beta of 0.83.

Insider Buying and Selling

In other Ardelyx news, CFO Justin A. Renz sold 5,260 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $4.79, for a total value of $25,195.40. Following the completion of the sale, the chief financial officer now owns 291,139 shares of the company’s stock, valued at approximately $1,394,555.81. This represents a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Raab sold 25,000 shares of Ardelyx stock in a transaction on Monday, November 25th. The stock was sold at an average price of $5.38, for a total transaction of $134,500.00. Following the transaction, the chief executive officer now directly owns 1,150,385 shares in the company, valued at approximately $6,189,071.30. This represents a 2.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 252,068 shares of company stock valued at $1,472,641 over the last three months. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in Ardelyx by 0.3% in the third quarter. Geode Capital Management LLC now owns 5,487,742 shares of the biopharmaceutical company’s stock valued at $37,818,000 after buying an additional 17,296 shares in the last quarter. Barclays PLC raised its holdings in shares of Ardelyx by 24.9% during the third quarter. Barclays PLC now owns 547,325 shares of the biopharmaceutical company’s stock worth $3,770,000 after acquiring an additional 109,285 shares during the period. State Street Corp lifted its position in Ardelyx by 1.5% in the 3rd quarter. State Street Corp now owns 12,141,850 shares of the biopharmaceutical company’s stock valued at $83,657,000 after acquiring an additional 176,789 shares in the last quarter. Parallax Volatility Advisers L.P. acquired a new position in Ardelyx in the 3rd quarter worth $506,000. Finally, Eventide Asset Management LLC boosted its stake in Ardelyx by 11.2% in the 3rd quarter. Eventide Asset Management LLC now owns 7,413,049 shares of the biopharmaceutical company’s stock worth $51,076,000 after purchasing an additional 746,067 shares during the period. 58.92% of the stock is owned by institutional investors and hedge funds.

Ardelyx Company Profile

Ardelyx, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines to treat gastrointestinal and cardiorenal therapeutic areas in the United States and internationally. The company’s lead product candidate is tenapanor for the treatment of patients with irritable bowel syndrome with constipation.