Ardelyx Inc (NASDAQ:ARDX) Expected to Post Earnings of -$0.36 Per Share

Wall Street analysts expect Ardelyx Inc (NASDAQ:ARDX) to report earnings of ($0.36) per share for the current quarter, Zacks reports. Zero analysts have issued estimates for Ardelyx’s earnings, with the highest EPS estimate coming in at ($0.33) and the lowest estimate coming in at ($0.40). Ardelyx posted earnings of ($0.45) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 20%. The firm is scheduled to report its next quarterly earnings report on Wednesday, March 4th.

According to Zacks, analysts expect that Ardelyx will report full-year earnings of ($1.55) per share for the current fiscal year, with EPS estimates ranging from ($1.62) to ($1.51). For the next fiscal year, analysts anticipate that the business will post earnings of ($1.33) per share, with EPS estimates ranging from ($1.61) to ($1.04). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Ardelyx.

Ardelyx (NASDAQ:ARDX) last issued its earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.37) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.37). The company had revenue of $3.01 million for the quarter.

Several brokerages have recently weighed in on ARDX. BidaskClub cut shares of Ardelyx from a “buy” rating to a “hold” rating in a research report on Saturday, November 23rd. Jefferies Financial Group lifted their price objective on shares of Ardelyx from $6.00 to $11.00 and gave the company a “buy” rating in a report on Tuesday. Piper Jaffray Companies set a $15.00 target price on Ardelyx and gave the stock a “buy” rating in a report on Thursday, October 17th. Svb Leerink increased their target price on Ardelyx from $8.00 to $9.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Finally, Zacks Investment Research upgraded Ardelyx from a “sell” rating to a “hold” rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $9.25.

Shares of NASDAQ:ARDX traded down $1.14 during trading hours on Wednesday, hitting $6.92. The company’s stock had a trading volume of 1,266,717 shares, compared to its average volume of 646,748. Ardelyx has a 52 week low of $1.60 and a 52 week high of $8.31. The company has a debt-to-equity ratio of 1.07, a current ratio of 6.27 and a quick ratio of 6.27. The company has a market capitalization of $467.41 million, a price-to-earnings ratio of -4.27 and a beta of 1.76. The firm’s fifty day moving average price is $5.77 and its 200 day moving average price is $3.91.

In related news, CFO Mark Kaufmann sold 20,000 shares of the business’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $4.56, for a total transaction of $91,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Elizabeth A. Grammer sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $7.00, for a total value of $35,000.00. The disclosure for this sale can be found here. Corporate insiders own 15.31% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. California State Teachers Retirement System grew its stake in shares of Ardelyx by 6.1% during the 3rd quarter. California State Teachers Retirement System now owns 73,491 shares of the biopharmaceutical company’s stock valued at $345,000 after buying an additional 4,198 shares during the period. Rhumbline Advisers boosted its position in Ardelyx by 9.0% during the 3rd quarter. Rhumbline Advisers now owns 73,239 shares of the biopharmaceutical company’s stock valued at $344,000 after acquiring an additional 6,022 shares in the last quarter. Jane Street Group LLC bought a new stake in Ardelyx during the 2nd quarter valued at $29,000. Citadel Advisors LLC purchased a new position in shares of Ardelyx in the 2nd quarter valued at $37,000. Finally, Northern Trust Corp increased its holdings in shares of Ardelyx by 2.8% in the 2nd quarter. Northern Trust Corp now owns 530,420 shares of the biopharmaceutical company’s stock valued at $1,427,000 after acquiring an additional 14,315 shares during the period. 77.14% of the stock is owned by institutional investors and hedge funds.

About Ardelyx

Ardelyx, Inc, a specialized biopharmaceutical company, develops and sells medicines for the treatment of cardio renal diseases in the United States and internationally. The company's lead product candidate is tenapanor, which has completed Phase III clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase III clinical trial for the treatment of hyperphosphatemia in end-stage renal disease patients on dialysis.

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Earnings History and Estimates for Ardelyx (NASDAQ:ARDX)

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