FY2027 Earnings Estimate for Ardelyx Issued By HC Wainwright

Ardelyx, Inc. (NASDAQ:ARDX) – Stock analysts at HC Wainwright upped their FY2027 EPS estimates for Ardelyx in a research report issued to clients and investors on Tuesday, August 5th. HC Wainwright analyst M. Caufield now anticipates that the biopharmaceutical company will earn $0.16 per share for the year, up from their previous forecast of $0.14. HC Wainwright has a “Buy” rating and a $10.00 price target on the stock. The consensus estimate for Ardelyx’s current full-year earnings is ($0.18) per share. HC Wainwright also issued estimates for Ardelyx’s FY2028 earnings at $0.65 EPS and FY2029 earnings at $1.17 EPS.

A number of other equities research analysts also recently commented on the company. Raymond James Financial reissued an “outperform” rating and issued a $12.00 target price (up previously from $11.00) on shares of Ardelyx in a report on Tuesday. UBS Group set a $12.00 price objective on shares of Ardelyx in a research note on Tuesday. Wall Street Zen lowered shares of Ardelyx from a “hold” rating to a “sell” rating in a research report on Monday, May 5th. Citigroup dropped their target price on shares of Ardelyx from $11.00 to $10.00 and set a “buy” rating for the company in a report on Friday, May 2nd. Finally, Wedbush reissued an “outperform” rating and set a $14.00 price target (up previously from $13.00) on shares of Ardelyx in a research note on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $11.50.

Ardelyx Stock Up 1.4%

ARDX opened at $5.20 on Wednesday. The company has a debt-to-equity ratio of 1.44, a current ratio of 4.30 and a quick ratio of 3.81. Ardelyx has a 12 month low of $3.21 and a 12 month high of $7.18. The stock has a market capitalization of $1.25 billion, a P/E ratio of -22.61 and a beta of 0.68. The business has a 50 day simple moving average of $4.08 and a 200-day simple moving average of $4.63.

Ardelyx (NASDAQ:ARDX) last released its earnings results on Monday, August 4th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.05. The company had revenue of $97.66 million for the quarter, compared to analysts’ expectations of $82.69 million. Ardelyx had a negative return on equity of 36.57% and a negative net margin of 14.60%. The firm’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.07) EPS.

Insider Activity

In other Ardelyx news, CEO Michael Raab sold 46,817 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $4.08, for a total transaction of $191,013.36. Following the sale, the chief executive officer owned 1,547,937 shares in the company, valued at approximately $6,315,582.96. This represents a 2.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David M. Mott purchased 200,000 shares of the company’s stock in a transaction on Monday, June 16th. The shares were bought at an average cost of $3.63 per share, with a total value of $726,000.00. Following the transaction, the director directly owned 2,896,871 shares of the company’s stock, valued at $10,515,641.73. This represents a 7.42% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 500,000 shares of company stock worth $1,793,000 and sold 83,477 shares worth $340,586. 4.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Ardelyx by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 14,362,659 shares of the biopharmaceutical company’s stock worth $72,819,000 after buying an additional 767,111 shares in the last quarter. Orion Portfolio Solutions LLC lifted its stake in shares of Ardelyx by 42.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 16,486 shares of the biopharmaceutical company’s stock valued at $84,000 after buying an additional 4,933 shares during the period. Geode Capital Management LLC boosted its position in Ardelyx by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 5,509,730 shares of the biopharmaceutical company’s stock worth $27,941,000 after acquiring an additional 21,988 shares during the last quarter. ADAR1 Capital Management LLC boosted its position in Ardelyx by 384.9% during the fourth quarter. ADAR1 Capital Management LLC now owns 31,035 shares of the biopharmaceutical company’s stock worth $157,000 after acquiring an additional 24,635 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Ardelyx by 9.2% in the 4th quarter. Invesco Ltd. now owns 124,945 shares of the biopharmaceutical company’s stock worth $633,000 after acquiring an additional 10,514 shares during the period. Institutional investors and hedge funds own 58.92% of the company’s stock.

About Ardelyx

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.