Brokerages Anticipate Ardelyx, Inc. (NASDAQ:ARDX) Will Post Earnings of -$0.36 Per Share

Equities research analysts predict that Ardelyx, Inc. (NASDAQ:ARDX) will report earnings per share of ($0.36) for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Ardelyx’s earnings, with the highest EPS estimate coming in at ($0.35) and the lowest estimate coming in at ($0.38). Ardelyx posted earnings per share of ($0.28) in the same quarter last year, which suggests a negative year over year growth rate of 28.6%. The company is expected to announce its next quarterly earnings report on Thursday, August 5th.

According to Zacks, analysts expect that Ardelyx will report full-year earnings of ($1.42) per share for the current fiscal year, with EPS estimates ranging from ($1.66) to ($1.26). For the next year, analysts expect that the company will report earnings of ($0.61) per share, with EPS estimates ranging from ($0.96) to ($0.35). Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Ardelyx.

Ardelyx (NASDAQ:ARDX) last announced its earnings results on Wednesday, May 5th. The biopharmaceutical company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.01). Ardelyx had a negative return on equity of 53.93% and a negative net margin of 1,063.74%.

Several equities research analysts have recently weighed in on ARDX shares. Zacks Investment Research upgraded shares of Ardelyx from a “sell” rating to a “hold” rating in a research note on Wednesday, March 10th. Wedbush started coverage on shares of Ardelyx in a research note on Monday, March 29th. They set an “outperform” rating and a $14.00 target price for the company. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Ardelyx presently has an average rating of “Buy” and a consensus target price of $12.44.

In related news, insider David P. Rosenbaum sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, April 6th. The shares were sold at an average price of $8.00, for a total value of $40,000.00. Following the completion of the sale, the insider now owns 160,047 shares in the company, valued at $1,280,376. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.96% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in ARDX. Kennedy Capital Management Inc. acquired a new stake in Ardelyx in the first quarter valued at about $5,379,000. Prudential Financial Inc. increased its holdings in Ardelyx by 686.7% in the first quarter. Prudential Financial Inc. now owns 928,305 shares of the biopharmaceutical company’s stock valued at $6,146,000 after buying an additional 810,300 shares in the last quarter. Candriam Luxembourg S.C.A. increased 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 valued at $8,879,000 after buying an additional 734,574 shares in the last quarter. Janus Henderson Group PLC purchased a new position in Ardelyx in the fourth quarter valued at about $2,184,000. Finally, Dimensional Fund Advisors LP increased its holdings in Ardelyx by 11.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,070,375 shares of the biopharmaceutical company’s stock valued at $13,714,000 after buying an additional 209,819 shares in the last quarter. Hedge funds and other institutional investors own 85.92% of the company’s stock.

Shares of ARDX traded up $0.15 during mid-day trading on Tuesday, hitting $6.79. 1,292,601 shares of the company’s stock were exchanged, compared to its average volume of 1,676,496. Ardelyx has a fifty-two week low of $4.96 and a fifty-two week high of $9.23. The firm has a market capitalization of $670.23 million, a P/E ratio of -6.72 and a beta of 2.02. The business’s 50 day moving average is $7.39 and its two-hundred day moving average is $6.77. The company has a current ratio of 11.72, a quick ratio of 11.72 and a debt-to-equity ratio of 0.39.

About Ardelyx

Ardelyx, Inc, a biopharmaceutical company, develops and sells medicines for the treatment of kidney and 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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