Ardelyx (NASDAQ:ARDX) Issues Earnings Results, Meets Estimates

Ardelyx (NASDAQ:ARDX - Get Free Report) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.02, Zacks reports. The firm had revenue of $116.13 million during the quarter, compared to the consensus estimate of $111.16 million. Ardelyx had a negative return on equity of 25.74% and a negative net margin of 11.73%.

Ardelyx Trading Up 1.4 %

NASDAQ ARDX traded up $0.07 on Monday, hitting $5.13. The company's stock had a trading volume of 3,790,673 shares, compared to its average volume of 4,402,331. The company has a current ratio of 4.03, a quick ratio of 3.87 and a debt-to-equity ratio of 0.64. Ardelyx has a 52-week low of $4.32 and a 52-week high of $9.83. The firm has a market cap of $1.22 billion, a P/E ratio of -32.06 and a beta of 0.85. The company's 50-day simple moving average is $5.30 and its 200 day simple moving average is $5.63.

Insider Activity at Ardelyx

In other Ardelyx news, CEO Michael Raab sold 22,964 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $5.62, for a total value of $129,057.68. Following the sale, the chief executive officer now owns 1,085,755 shares in the company, valued at approximately $6,101,943.10. This represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David M. Mott purchased 213,300 shares of the company's stock in a transaction dated Thursday, December 19th. The stock was bought at an average cost of $4.67 per share, for a total transaction of $996,111.00. Following the completion of the transaction, the director now owns 1,638,765 shares in the company, valued at approximately $7,653,032.55. This represents a 14.96 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 141,408 shares of company stock worth $761,963 over the last quarter. 5.90% of the stock is owned by corporate insiders.

Remove Ads

Analysts Set New Price Targets

Several equities research analysts have issued reports on ARDX shares. Cantor Fitzgerald raised Ardelyx to a "strong-buy" rating in a research note on Thursday, January 30th. Piper Sandler lifted their price target on shares of Ardelyx from $7.00 to $8.00 and gave the stock a "neutral" rating in a research note on Monday, January 27th. Jefferies Financial Group cut their price objective on shares of Ardelyx from $11.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday, January 2nd. HC Wainwright reiterated a "neutral" rating and issued a $5.50 target price on shares of Ardelyx in a research report on Friday. Finally, Citigroup cut their price target on shares of Ardelyx from $12.00 to $10.00 and set a "buy" rating for the company in a research report on Monday, November 4th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $9.93.

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.