FY2029 Earnings Forecast for Ardelyx Issued By HC Wainwright

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

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

ARDX has been the topic of several other research reports. Jefferies Financial Group reduced their target price 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. Citigroup reduced their price objective on Ardelyx from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Raymond James reiterated a “strong-buy” rating and set a $13.00 target price (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 research note on Thursday, January 30th. Finally, Piper Sandler lifted their target price on Ardelyx from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday, January 27th. Three analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.93.

Ardelyx Stock Up 1.4 %

Shares of NASDAQ:ARDX opened at $5.13 on Monday. The company’s 50-day moving average price is $5.30 and its two-hundred day moving average price is $5.63. The firm has a market cap of $1.22 billion, a P/E ratio of -32.06 and a beta of 0.85. Ardelyx has a 12 month low of $4.32 and a 12 month high of $9.83. The company has a quick ratio of 3.87, a current ratio of 4.03 and a debt-to-equity ratio of 0.64.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Janus Henderson Group PLC raised its position in Ardelyx by 13.3% in the 4th quarter. Janus Henderson Group PLC now owns 24,387,941 shares of the biopharmaceutical company’s stock valued at $123,587,000 after buying an additional 2,858,061 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Ardelyx by 5.6% during the 4th quarter. Vanguard Group Inc. now owns 14,362,659 shares of the biopharmaceutical company’s stock valued at $72,819,000 after purchasing an additional 767,111 shares during the period. State Street Corp grew its stake in Ardelyx by 1.5% during the third quarter. State Street Corp now owns 12,141,850 shares of the biopharmaceutical company’s stock valued at $83,657,000 after acquiring an additional 176,789 shares in the last quarter. Eventide Asset Management LLC raised its position in shares of Ardelyx by 11.2% in the third quarter. Eventide Asset Management LLC now owns 7,413,049 shares of the biopharmaceutical company’s stock worth $51,076,000 after buying an additional 746,067 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Ardelyx by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 5,509,730 shares of the biopharmaceutical company’s stock worth $27,941,000 after purchasing an additional 21,988 shares during the last quarter. 58.92% of the stock is owned by institutional investors.

Insider Activity at Ardelyx

In other Ardelyx news, insider Laura A. Williams sold 4,941 shares of Ardelyx stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $5.62, for a total value of $27,768.42. Following the completion of the sale, the insider now directly owns 303,804 shares of the company’s stock, valued at approximately $1,707,378.48. The trade was a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David M. Mott acquired 213,300 shares of Ardelyx stock in a transaction on Thursday, December 19th. The stock was purchased at an average cost of $4.67 per share, with a total value of $996,111.00. Following the purchase, the director now directly owns 1,638,765 shares of the company’s stock, valued at approximately $7,653,032.55. This trade represents a 14.96 % increase in their position. The disclosure for this purchase 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.

Ardelyx Company Profile

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.