FY2029 Earnings Estimate for Ardelyx Issued By HC Wainwright

Ardelyx, Inc. (NASDAQ:ARDX) – HC Wainwright issued their FY2029 EPS estimates for Ardelyx in a research note issued to investors on Friday, February 21st. HC Wainwright analyst E. Arce forecasts that the biopharmaceutical company will post earnings per share of $1.18 for the year. HC Wainwright currently has a “Neutral” rating and a $5.50 price objective on the stock. The consensus estimate for Ardelyx’s current full-year earnings is ($0.18) per share.

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

Other research analysts have also recently issued research reports about the stock. Piper Sandler lifted 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. Jefferies Financial Group dropped their price objective on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, January 2nd. Raymond James reiterated a “strong-buy” rating and set a $13.00 price target (down previously from $15.00) on shares of Ardelyx in a report on Friday. Cantor Fitzgerald upgraded shares of Ardelyx to a “strong-buy” rating in a report on Thursday, January 30th. Finally, Citigroup lowered their price target on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a report on Monday, November 4th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.93.

Ardelyx Price Performance

Shares of ARDX opened at $5.06 on Monday. Ardelyx has a 1-year low of $4.32 and a 1-year high of $9.83. The stock has a market cap of $1.20 billion, a PE ratio of -31.59 and a beta of 0.85. The firm has a 50-day simple moving average of $5.30 and a two-hundred day simple moving average of $5.63. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87.

Insider Activity

In related news, Director David M. Mott purchased 213,300 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was acquired at an average price of $4.67 per share, for a total transaction of $996,111.00. Following the completion of the purchase, the director now owns 1,638,765 shares in the company, valued at approximately $7,653,032.55. This represents a 14.96 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Raab sold 41,666 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $5.31, for a total transaction of $221,246.46. Following the sale, the chief executive officer now owns 1,129,552 shares of the company’s stock, valued at approximately $5,997,921.12. The trade was a 3.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 141,408 shares of company stock worth $761,963 over the last 90 days. Company insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Ardelyx

Hedge funds and other institutional investors have recently modified their holdings of the company. GF Fund Management CO. LTD. acquired a new position in shares of Ardelyx during the fourth quarter valued at $25,000. Newbridge Financial Services Group Inc. acquired a new stake in Ardelyx in the fourth quarter worth about $35,000. SBI Securities Co. Ltd. acquired a new stake in Ardelyx in the fourth quarter worth about $41,000. Quarry LP acquired a new stake in Ardelyx in the fourth quarter worth about $51,000. Finally, Rehmann Capital Advisory Group acquired a new stake in Ardelyx in the fourth quarter worth about $51,000. Institutional investors and hedge funds own 58.92% 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.