Zacks: Analysts Expect Ardelyx, Inc. (NASDAQ:ARDX) Will Post Earnings of -$0.19 Per Share

Wall Street analysts expect Ardelyx, Inc. (NASDAQ:ARDXGet Rating) to report earnings of ($0.19) per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Ardelyx’s earnings, with estimates ranging from ($0.20) to ($0.17). Ardelyx reported earnings per share of ($0.45) in the same quarter last year, which suggests a positive year over year growth rate of 57.8%. The company is expected to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Ardelyx will report full year earnings of ($0.72) per share for the current fiscal year, with EPS estimates ranging from ($0.82) to ($0.65). For the next fiscal year, analysts anticipate that the business will post earnings of ($0.35) per share, with EPS estimates ranging from ($0.83) to $0.27. Zacks’ EPS averages are an average based on a survey of research analysts that cover Ardelyx.

Ardelyx (NASDAQ:ARDXGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The biopharmaceutical company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.01. Ardelyx had a negative return on equity of 177.07% and a negative net margin of 3,843.36%. During the same period last year, the firm posted ($0.34) earnings per share.

ARDX has been the subject of several analyst reports. Wedbush cut their price target on shares of Ardelyx from $2.00 to $1.00 in a research report on Tuesday, March 1st. Zacks Investment Research cut shares of Ardelyx from a “buy” rating to a “hold” rating in a research note on Tuesday, May 3rd. Jefferies Financial Group upgraded shares of Ardelyx from a “hold” rating to a “buy” rating and lifted their price target for the company from $1.00 to $5.00 in a report on Wednesday, March 2nd. StockNews.com began coverage on shares of Ardelyx in a report on Thursday, March 31st. They issued a “sell” rating on the stock. Finally, Piper Sandler reduced their target price on shares of Ardelyx from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $4.71.

Ardelyx stock traded down $0.02 during trading on Friday, hitting $0.65. The stock had a trading volume of 1,435,639 shares, compared to its average volume of 4,586,791. The stock’s 50 day moving average is $0.90 and its two-hundred day moving average is $0.96. Ardelyx has a 1 year low of $0.58 and a 1 year high of $2.15. The stock has a market cap of $94.45 million, a price-to-earnings ratio of -0.47 and a beta of 1.84.

Institutional investors have recently modified their holdings of the stock. Morgan Stanley increased its stake in Ardelyx by 1,383.0% in the 2nd quarter. Morgan Stanley now owns 197,496 shares of the biopharmaceutical company’s stock valued at $1,496,000 after buying an additional 184,179 shares during the period. Invesco Ltd. lifted its holdings in Ardelyx by 93.6% in the 2nd quarter. Invesco Ltd. now owns 32,482 shares of the biopharmaceutical company’s stock valued at $247,000 after purchasing an additional 15,703 shares in the last quarter. SG Americas Securities LLC purchased a new position in Ardelyx in the 3rd quarter valued at about $64,000. BlackRock Inc. lifted its holdings in Ardelyx by 3.8% in the 3rd quarter. BlackRock Inc. now owns 6,455,902 shares of the biopharmaceutical company’s stock valued at $8,522,000 after purchasing an additional 237,006 shares in the last quarter. Finally, Barclays PLC lifted its holdings in Ardelyx by 213.2% in the 3rd quarter. Barclays PLC now owns 37,217 shares of the biopharmaceutical company’s stock valued at $49,000 after purchasing an additional 25,333 shares in the last quarter. Institutional investors own 32.35% of the company’s stock.

About Ardelyx (Get Rating)

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, which has completed Phase III clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase III clinical trial to control serum phosphorus in adult patients with chronic kidney disease (CKD)on dialysis, or hyperphosphatemia.

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Earnings History and Estimates for Ardelyx (NASDAQ:ARDX)

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