Wedbush Predicts Ardelyx’s FY2024 Earnings (NASDAQ:ARDX)

Ardelyx, Inc. (NASDAQ:ARDXFree Report) – Research analysts at Wedbush decreased their FY2024 earnings per share estimates for shares of Ardelyx in a research report issued on Thursday, January 23rd. Wedbush analyst L. Chico now expects that the biopharmaceutical company will earn ($0.18) per share for the year, down from their previous estimate of ($0.17). The consensus estimate for Ardelyx’s current full-year earnings is ($0.17) per share. Wedbush also issued estimates for Ardelyx’s Q4 2024 earnings at $0.01 EPS, Q1 2025 earnings at ($0.13) EPS, Q2 2025 earnings at ($0.09) EPS, Q3 2025 earnings at ($0.06) EPS, Q4 2025 earnings at ($0.03) EPS, FY2025 earnings at ($0.31) EPS, FY2026 earnings at $0.12 EPS, FY2027 earnings at $0.44 EPS, FY2028 earnings at $0.72 EPS and FY2029 earnings at $0.89 EPS.

Several other research firms have also recently issued reports on ARDX. 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. Piper Sandler raised their target price on shares of Ardelyx from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Monday. HC Wainwright reissued a “neutral” rating and set a $5.50 price target on shares of Ardelyx in a research note on Thursday, January 16th. Finally, Jefferies Financial Group reduced their price objective on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $9.42.

Read Our Latest Stock Analysis on ARDX

Ardelyx Stock Down 0.9 %

NASDAQ ARDX opened at $5.47 on Monday. The stock has a market capitalization of $1.30 billion, a P/E ratio of -18.23 and a beta of 0.85. Ardelyx has a 52 week low of $4.32 and a 52 week high of $10.13. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.87 and a current ratio of 4.03. The stock has a fifty day moving average of $5.19 and a 200-day moving average of $5.65.

Insider Buying and Selling

In related news, insider David P. Rosenbaum sold 27,171 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $6.10, for a total transaction of $165,743.10. Following the sale, the insider now owns 153,616 shares of the company’s stock, valued at approximately $937,057.60. This trade represents a 15.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael Raab sold 31,980 shares of the business’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $4.79, for a total value of $153,184.20. Following the completion of the transaction, the chief executive officer now directly owns 1,175,385 shares of the company’s stock, valued at approximately $5,630,094.15. The trade was a 2.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 193,358 shares of company stock valued at $1,041,766 in the last 90 days. 5.90% of the stock is owned by insiders.

Institutional Trading of Ardelyx

Large investors have recently bought and sold shares of the business. KBC Group NV lifted its stake in Ardelyx by 101.8% in the fourth quarter. KBC Group NV now owns 13,706 shares of the biopharmaceutical company’s stock valued at $69,000 after buying an additional 6,915 shares in the last quarter. Coastal Bridge Advisors LLC acquired a new stake in shares of Ardelyx during the second quarter worth $74,000. Helen Stephens Group LLC bought a new stake in Ardelyx in the 3rd quarter valued at $76,000. CWM LLC boosted its stake in Ardelyx by 328.1% in the 3rd quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company’s stock worth $88,000 after purchasing an additional 9,821 shares during the period. Finally, Bleakley Financial Group LLC bought a new position in Ardelyx during the 4th quarter worth about $98,000. 58.92% of the stock is owned by institutional investors.

Ardelyx Company Profile

(Get Free Report)

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.

See Also

Earnings History and Estimates for Ardelyx (NASDAQ:ARDX)

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