Ardelyx (ARDX) to Release Earnings on Thursday

Ardelyx (NASDAQ:ARDX) will release its earnings data after the market closes on Thursday, May 2nd. Analysts expect Ardelyx to post earnings of ($0.13) per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Ardelyx (NASDAQ:ARDX) last issued its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.03). Ardelyx had a negative net margin of 53.08% and a negative return on equity of 43.57%. The company had revenue of $34.36 million during the quarter, compared to analyst estimates of $34.26 million. During the same quarter last year, the company posted $0.06 EPS. The business’s revenue for the quarter was down 22.2% compared to the same quarter last year. On average, analysts expect Ardelyx to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Ardelyx Price Performance

NASDAQ ARDX traded up $0.05 on Tuesday, hitting $6.51. 239,241 shares of the stock traded hands, compared to its average volume of 5,962,212. The company has a current ratio of 4.88, a quick ratio of 4.64 and a debt-to-equity ratio of 0.30. The stock has a 50-day moving average of $7.80 and a 200 day moving average of $6.73. Ardelyx has a twelve month low of $3.16 and a twelve month high of $10.13.

Analyst Ratings Changes

ARDX has been the topic of a number of research reports. Leerink Partnrs reissued an “outperform” rating on shares of Ardelyx in a report on Friday, April 5th. Citigroup increased their price objective on shares of Ardelyx from $9.00 to $14.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Wedbush lifted their target price on Ardelyx from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. Raymond James increased their price target on Ardelyx from $12.00 to $15.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 9th. Finally, SVB Leerink started coverage on Ardelyx in a research report on Friday, April 5th. They set an “outperform” rating and a $14.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $12.69.

Insider Buying and Selling at Ardelyx

In other news, insider David P. Rosenbaum sold 15,344 shares of the stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $9.18, for a total value of $140,857.92. Following the completion of the transaction, the insider now owns 384,002 shares of the company’s stock, valued at $3,525,138.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Ardelyx news, insider David P. Rosenbaum sold 15,344 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $9.18, for a total transaction of $140,857.92. Following the sale, the insider now directly owns 384,002 shares in the company, valued at approximately $3,525,138.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Raab sold 22,917 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $8.75, for a total transaction of $200,523.75. Following the completion of the transaction, the chief executive officer now owns 1,319,951 shares of the company’s stock, valued at $11,549,571.25. The disclosure for this sale can be found here. Insiders have sold 148,820 shares of company stock valued at $1,208,524 in the last quarter. Corporate insiders own 5.50% 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.