Ardelyx, Inc. (NASDAQ:ARDX) Expected to Announce Earnings of -$0.32 Per Share


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Wall Street brokerages expect Ardelyx, Inc. (NASDAQ:ARDX) to report ($0.32) earnings per share for the current quarter, Zacks reports. Two analysts have made estimates for Ardelyx’s earnings, with the highest EPS estimate coming in at ($0.30) and the lowest estimate coming in at ($0.33). Ardelyx posted earnings of ($0.25) per share in the same quarter last year, which suggests a negative year over year growth rate of 28%. The business is scheduled to issue its next earnings results on Thursday, May 6th.

On average, analysts expect that Ardelyx will report full year earnings of ($1.33) per share for the current year, with EPS estimates ranging from ($1.66) to ($1.09). For the next financial year, analysts forecast that the business will post earnings of ($0.54) per share, with EPS estimates ranging from ($1.00) to ($0.21). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Ardelyx.

Ardelyx (NASDAQ:ARDX) last posted its earnings results on Sunday, March 7th. The biopharmaceutical company reported ($0.32) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.06). Ardelyx had a negative net margin of 1,063.74% and a negative return on equity of 53.93%. The business had revenue of $1.81 million for the quarter, compared to analysts’ expectations of $1.87 million.

Several equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Ardelyx from a “sell” rating to a “hold” rating in a research report on Wednesday, March 10th. Wedbush assumed coverage on Ardelyx in a research report on Monday, March 29th. They set an “outperform” rating and a $14.00 price target on the stock. Finally, Cantor Fitzgerald assumed coverage on Ardelyx in a research report on Tuesday, January 5th. They set an “overweight” rating and a $14.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $12.44.

In related news, insider David P. Rosenbaum sold 5,000 shares of Ardelyx stock in a transaction that occurred on Tuesday, April 6th. The stock was sold at an average price of $8.00, for a total transaction of $40,000.00. Following the sale, the insider now directly owns 160,047 shares in the company, valued at $1,280,376. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.96% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ARDX. Candriam Luxembourg S.C.A. boosted its holdings in Ardelyx by 115.2% in the fourth quarter. Candriam Luxembourg S.C.A. now owns 1,372,217 shares of the biopharmaceutical company’s stock worth $8,879,000 after acquiring an additional 734,574 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Ardelyx in the fourth quarter worth $2,184,000. Pekin Hardy Strauss Inc. boosted its holdings in Ardelyx by 10.6% in the third quarter. Pekin Hardy Strauss Inc. now owns 1,721,001 shares of the biopharmaceutical company’s stock worth $9,035,000 after acquiring an additional 164,447 shares in the last quarter. Silverarc Capital Management LLC bought a new stake in Ardelyx in the fourth quarter worth $776,000. Finally, Russell Investments Group Ltd. bought a new stake in Ardelyx in the fourth quarter worth $673,000. 85.92% of the stock is currently owned by institutional investors and hedge funds.

Shares of ARDX traded down $0.42 during mid-day trading on Tuesday, hitting $7.44. 2,161,918 shares of the company’s stock traded hands, compared to its average volume of 1,038,363. The company has a quick ratio of 11.72, a current ratio of 11.72 and a debt-to-equity ratio of 0.39. Ardelyx has a 1 year low of $4.96 and a 1 year high of $8.35. The firm has a market capitalization of $734.18 million, a P/E ratio of -7.37 and a beta of 2.02. The business’s 50-day moving average price is $6.77 and its 200-day moving average price is $6.39.

Ardelyx Company Profile

Ardelyx, Inc, a biopharmaceutical company, develops and sells medicines for the treatment of cardiorenal diseases in the United States and internationally. The company's lead product candidate is tenapanor, which has completed Phase 3 clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase 3 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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