Ardelyx (NASDAQ:ARDX) Announces Earnings Results, Misses Expectations By $0.02 EPS

Ardelyx (NASDAQ:ARDX) issued its earnings results on Thursday. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.02), FiscalAI reports. The firm had revenue of $120.88 million during the quarter, compared to analysts’ expectations of $121.03 million. Ardelyx had a negative return on equity of 38.11% and a negative net margin of 13.58%.The firm’s quarterly revenue was up 34.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.08) EPS.

Here are the key takeaways from Ardelyx’s conference call:

• Q2 product revenue reached a record $118 million, up 31% year over year, with IBSRELA revenue increasing 33% to $86.2 million and XPHOZAH revenue rising 27% to $31.9 million.
• IBSRELA faced more stringent payer prior authorizations and step edits, slowing new-patient starts despite record demand, refills, and total prescriptions. The company lowered 2026 IBSRELA revenue guidance to $350 million-$370 million.
• Ardelyx reiterated XPHOZAH 2026 revenue guidance of $110 million-$120 million but withdrew its longer-term $750 million revenue target while it assesses post-TDAPA market dynamics and upcoming dialysis payment policies.
• Management is expanding field reimbursement and commercial support for IBSRELA, including doubling reimbursement staff, increasing the sales force to 144 representatives, and further promoting the IBSRELA Pharmacy Network to improve fulfillment and adherence.
• The company ended the quarter with $281.8 million in cash, revised 2026 operating-expense guidance to below $500 million, and maintained its expectation of achieving profitability in 2027 while advancing its pipeline and tenapanor patent estate.

Ardelyx Trading Down 0.8%

Ardelyx stock traded down $0.04 during trading hours on Thursday, reaching $4.87. The company had a trading volume of 6,837,501 shares, compared to its average volume of 2,539,564. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.49 and a quick ratio of 3.28. Ardelyx has a 12-month low of $4.71 and a 12-month high of $8.40. The company has a 50-day moving average price of $5.41 and a 200 day moving average price of $6.09. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -21.17 and a beta of 0.70.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ARDX shares. LADENBURG THALM/SH SH started coverage on shares of Ardelyx in a report on Tuesday, June 16th. They issued a “buy” rating and a $16.00 price objective for the company. Zacks Research lowered shares of Ardelyx from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 22nd. Finally, Weiss Ratings downgraded shares of Ardelyx from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.10.

Insider Buying and Selling

In related news, insider Eric Duane Foster sold 7,998 shares of Ardelyx stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $6.27, for a total value of $50,147.46. Following the transaction, the insider directly owned 417,972 shares of the company’s stock, valued at $2,620,684.44. The trade was a 1.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mike Kelliher sold 7,248 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $6.27, for a total transaction of $45,444.96. Following the sale, the insider owned 357,418 shares of the company’s stock, valued at $2,241,010.86. This represents a 1.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 24,572 shares of company stock valued at $154,066. Insiders own 5.30% of the company’s stock.

Institutional Investors Weigh In On Ardelyx

Large investors have recently added to or reduced their stakes in the company. Abel Hall LLC bought a new position in shares of Ardelyx during the fourth quarter valued at approximately $92,000. Sargent Investment Group LLC bought a new stake in Ardelyx in the fourth quarter valued at $82,000. Cibc World Markets Corp purchased a new position in Ardelyx during the 4th quarter valued at $92,000. Steward Partners Investment Advisory LLC increased its position in Ardelyx by 81.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 14,021 shares of the biopharmaceutical company’s stock valued at $82,000 after purchasing an additional 6,293 shares during the period. Finally, Integrated Wealth Concepts LLC raised its holdings in Ardelyx by 24.2% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 15,263 shares of the biopharmaceutical company’s stock worth $84,000 after purchasing an additional 2,975 shares in the last quarter. Institutional investors own 58.92% of the company’s stock.

Ardelyx Company Profile

Ardelyx, Inc (NASDAQ: ARDX) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing targeted small molecule drugs for cardio‐renal and gastrointestinal diseases. The company’s lead marketed product, tenapanor (sold under the brand name XPHOZAH in the United States), is approved for the treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis. Ardelyx’s proprietary approach targets epithelial transporters in the gastrointestinal tract, offering localized activity with limited systemic exposure.

Beyond tenapanor, Ardelyx’s development pipeline includes treatments designed to address other complications in kidney disease and related metabolic disorders.