FY2029 Earnings Estimate for Ardelyx Issued By Wedbush

Ardelyx, Inc. (NASDAQ:ARDX) – Wedbush reduced their FY2029 EPS estimates for Ardelyx in a note issued to investors on Friday, February 21st. Wedbush analyst L. Chico now anticipates that the biopharmaceutical company will post earnings of $0.88 per share for the year, down from their previous estimate of $0.89. The consensus estimate for Ardelyx’s current full-year earnings is ($0.18) per share.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.02. The firm had revenue of $116.13 million for the quarter, compared to analyst estimates of $111.16 million. Ardelyx had a negative net margin of 11.73% and a negative return on equity of 25.74%.

A number of other equities research analysts have also weighed in on ARDX. Piper Sandler boosted their price objective on shares of Ardelyx from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Monday, January 27th. Citigroup dropped their price objective on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Cantor Fitzgerald raised shares of Ardelyx to a “strong-buy” rating in a report on Thursday, January 30th. Jefferies Financial Group dropped their price objective on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Finally, Raymond James restated a “strong-buy” rating and set a $13.00 target price (down from $15.00) on shares of Ardelyx in a research report on Friday. Three equities research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.93.

Ardelyx Price Performance

Shares of ARDX opened at $5.06 on Monday. The firm has a market capitalization of $1.20 billion, a PE ratio of -31.59 and a beta of 0.85. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87. Ardelyx has a 1-year low of $4.32 and a 1-year high of $9.83. The company’s fifty day moving average price is $5.30 and its 200-day moving average price is $5.63.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ARDX. GF Fund Management CO. LTD. acquired a new position in shares of Ardelyx in the fourth quarter worth about $25,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Ardelyx during the 4th quarter worth about $35,000. SBI Securities Co. Ltd. acquired a new position in shares of Ardelyx during the 4th quarter worth about $41,000. Quarry LP acquired a new position in shares of Ardelyx during the 4th quarter worth about $51,000. Finally, Rehmann Capital Advisory Group acquired a new position in shares of Ardelyx during the 4th quarter worth about $51,000. Institutional investors and hedge funds own 58.92% of the company’s stock.

Insider Activity at Ardelyx

In other Ardelyx news, CFO Justin A. Renz sold 5,171 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $5.62, for a total value of $29,061.02. Following the completion of the transaction, the chief financial officer now owns 285,968 shares in the company, valued at approximately $1,607,140.16. This represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Laura A. Williams sold 4,941 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $5.62, for a total transaction of $27,768.42. Following the completion of the transaction, the insider now owns 303,804 shares of the company’s stock, valued at approximately $1,707,378.48. This trade represents a 1.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 141,408 shares of company stock worth $761,963 over the last three months. Company insiders own 5.90% of the company’s stock.

About Ardelyx

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.