Analysts forecast that Ardelyx Inc (NASDAQ:ARDX) will report ($0.41) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Ardelyx’s earnings. The lowest EPS estimate is ($0.47) and the highest is ($0.37). Ardelyx posted earnings per share of ($0.44) in the same quarter last year, which indicates a positive year over year growth rate of 6.8%. The firm is expected to report its next quarterly earnings report on Tuesday, November 6th.

According to Zacks, analysts expect that Ardelyx will report full-year earnings of ($1.61) per share for the current year, with EPS estimates ranging from ($1.76) to ($1.49). For the next fiscal year, analysts anticipate that the business will report earnings of ($1.65) per share, with EPS estimates ranging from ($2.01) to ($1.31). Zacks’ earnings per share averages are an average based on a survey of research firms that follow Ardelyx.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings data on Tuesday, August 7th. The biopharmaceutical company reported ($0.42) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.44) by $0.02. The company had revenue of $0.03 million during the quarter.

Several research firms have recently commented on ARDX. BidaskClub upgraded Ardelyx from a “sell” rating to a “hold” rating in a report on Friday, September 28th. Jefferies Financial Group assumed coverage on Ardelyx in a research note on Friday, August 24th. They issued a “buy” rating and a $7.00 target price on the stock. Zacks Investment Research cut Ardelyx from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. Finally, Citigroup cut their target price on Ardelyx from $17.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, August 9th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $10.82.

ARDX opened at $3.92 on Tuesday. The stock has a market capitalization of $243.87 million, a PE ratio of -2.88 and a beta of 0.81. The company has a current ratio of 14.21, a quick ratio of 14.21 and a debt-to-equity ratio of 0.30. Ardelyx has a 12 month low of $3.55 and a 12 month high of $8.10.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northern Trust Corp boosted its position in Ardelyx by 11.0% during the 2nd quarter. Northern Trust Corp now owns 412,398 shares of the biopharmaceutical company’s stock valued at $1,527,000 after acquiring an additional 40,804 shares in the last quarter. 683 Capital Management LLC bought a new stake in Ardelyx during the 2nd quarter valued at approximately $2,405,000. Millennium Management LLC boosted its position in Ardelyx by 155.2% during the 2nd quarter. Millennium Management LLC now owns 1,083,199 shares of the biopharmaceutical company’s stock valued at $4,008,000 after acquiring an additional 658,688 shares in the last quarter. Marshall Wace LLP boosted its position in Ardelyx by 132.9% during the 2nd quarter. Marshall Wace LLP now owns 27,359 shares of the biopharmaceutical company’s stock valued at $101,000 after acquiring an additional 15,610 shares in the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in Ardelyx by 173.3% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 32,266 shares of the biopharmaceutical company’s stock valued at $119,000 after acquiring an additional 20,458 shares in the last quarter. 73.46% of the stock is currently owned by institutional investors.

About Ardelyx

Ardelyx, Inc, a specialized biopharmaceutical company, develops and sells disruptive medicines for the treatment of cardio renal and gastrointestinal diseases in the United States and Asia Pacific. 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 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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