Wedbush Research Analysts Cut Earnings Estimates for Ardelyx

Ardelyx, Inc. (NASDAQ:ARDX) – Equities research analysts at Wedbush reduced their FY2026 earnings per share estimates for Ardelyx in a report issued on Friday, November 1st. Wedbush analyst L. Chico now expects that the biopharmaceutical company will post earnings per share of $0.06 for the year, down from their previous estimate of $0.08. Wedbush currently has a “Outperform” rating and a $11.00 target price on the stock. The consensus estimate for Ardelyx’s current full-year earnings is ($0.25) per share. Wedbush also issued estimates for Ardelyx’s FY2027 earnings at $0.38 EPS and FY2028 earnings at $0.66 EPS.

ARDX has been the subject of a number of other reports. HC Wainwright reaffirmed a “buy” rating and set a $11.00 target price on shares of Ardelyx in a research report on Friday. Citigroup lifted their price objective on Ardelyx from $10.00 to $12.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, StockNews.com upgraded shares of Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday, July 31st. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.67.

Ardelyx Stock Performance

Ardelyx stock opened at $6.09 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.99 and a current ratio of 4.21. The company has a market capitalization of $1.43 billion, a PE ratio of -20.30 and a beta of 0.92. The company has a 50 day moving average price of $6.07 and a 200-day moving average price of $6.32. Ardelyx has a fifty-two week low of $3.43 and a fifty-two week high of $10.13.

Ardelyx (NASDAQ:ARDX) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. The business had revenue of $73.20 million for the quarter, compared to the consensus estimate of $55.03 million. Ardelyx had a negative net margin of 28.82% and a negative return on equity of 46.86%. The company’s revenue for the quarter was up 228.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) EPS.

Hedge Funds Weigh In On Ardelyx

Hedge funds and other institutional investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. increased its stake in Ardelyx by 64.7% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 45,280 shares of the biopharmaceutical company’s stock valued at $312,000 after purchasing an additional 17,792 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Ardelyx by 34.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 28,365 shares of the biopharmaceutical company’s stock valued at $195,000 after buying an additional 7,245 shares during the last quarter. Values First Advisors Inc. increased its position in shares of Ardelyx by 14.6% in the 3rd quarter. Values First Advisors Inc. now owns 46,282 shares of the biopharmaceutical company’s stock valued at $319,000 after acquiring an additional 5,890 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in Ardelyx by 9.5% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 643,912 shares of the biopharmaceutical company’s stock worth $4,437,000 after acquiring an additional 55,720 shares during the last quarter. Finally, Inspire Investing LLC lifted its position in Ardelyx by 22.3% during the 3rd quarter. Inspire Investing LLC now owns 59,793 shares of the biopharmaceutical company’s stock worth $412,000 after acquiring an additional 10,912 shares during the period. 58.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ardelyx

In related news, CEO Michael Raab sold 32,225 shares of the business’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $5.86, for a total transaction of $188,838.50. Following the completion of the transaction, the chief executive officer now owns 1,227,009 shares in the company, valued at $7,190,272.74. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider David P. Rosenbaum sold 20,507 shares of the company’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $6.00, for a total transaction of $123,042.00. Following the transaction, the insider now directly owns 158,502 shares of the company’s stock, valued at $951,012. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael Raab sold 32,225 shares of the business’s stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $5.86, for a total value of $188,838.50. Following the sale, the chief executive officer now owns 1,227,009 shares in the company, valued at $7,190,272.74. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 212,126 shares of company stock valued at $1,298,963. 5.90% of the stock is currently owned by insiders.

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.