HC Wainwright Estimates Ardelyx FY2029 Earnings

Ardelyx, Inc. (NASDAQ:ARDX - Free Report) - Equities researchers at HC Wainwright issued their FY2029 earnings estimates for Ardelyx in a research report issued on Friday, February 21st. HC Wainwright analyst E. Arce expects that the biopharmaceutical company will earn $1.18 per share for the year. HC Wainwright has a "Neutral" rating and a $5.50 price target on the stock. The consensus estimate for Ardelyx's current full-year earnings is ($0.18) per share.

Ardelyx (NASDAQ:ARDX - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, hitting analysts' consensus estimates of $0.02. Ardelyx had a negative return on equity of 24.87% and a negative net margin of 11.73%. The firm had revenue of $116.13 million during the quarter, compared to analysts' expectations of $111.16 million.

Several other equities analysts also recently issued reports on the stock. Citigroup reduced their price target on shares of Ardelyx from $12.00 to $10.00 and set a "buy" rating for the company in a report on Monday, November 4th. Raymond James restated a "strong-buy" rating and set a $13.00 target price (down from $15.00) on shares of Ardelyx in a report on Friday, February 21st. Piper Sandler raised their target price on shares of Ardelyx from $7.00 to $8.00 and gave the stock a "neutral" rating in a report on Monday, January 27th. Cantor Fitzgerald upgraded Ardelyx to a "strong-buy" rating in a research note on Thursday, January 30th. Finally, Jefferies Financial Group dropped their price objective on shares of Ardelyx from $11.00 to $8.00 and set a "buy" rating on the stock in a report on Thursday, January 2nd. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $9.93.

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Ardelyx Stock Up 2.4 %

NASDAQ:ARDX traded up $0.12 during mid-day trading on Monday, reaching $5.22. The stock had a trading volume of 2,922,175 shares, compared to its average volume of 4,320,143. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -32.63 and a beta of 0.85. The stock's 50 day simple moving average is $5.31 and its two-hundred day simple moving average is $5.62. The company has a debt-to-equity ratio of 0.87, a current ratio of 4.58 and a quick ratio of 4.31. Ardelyx has a 1-year low of $4.32 and a 1-year high of $9.83.

Insider Transactions at Ardelyx

In related news, CEO Michael Raab sold 22,964 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $5.62, for a total transaction of $129,057.68. Following the sale, the chief executive officer now owns 1,085,755 shares in the company, valued at $6,101,943.10. The trade was a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David M. Mott bought 77,729 shares of the company's stock in a transaction on Monday, February 24th. The stock was purchased at an average price of $5.00 per share, with a total value of $388,645.00. Following the completion of the transaction, the director now directly owns 2,015,494 shares of the company's stock, valued at approximately $10,077,470. The trade was a 4.01 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 490,029 shares of company stock valued at $2,377,766 and sold 141,408 shares valued at $761,963. 5.90% of the stock is owned by insiders.

Institutional Trading of Ardelyx

Several institutional investors have recently modified their holdings of ARDX. GF Fund Management CO. LTD. acquired a new stake in shares of Ardelyx in the fourth quarter valued at about $25,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Ardelyx in the 4th quarter valued at about $35,000. SBI Securities Co. Ltd. acquired a new stake in Ardelyx during the fourth quarter worth approximately $41,000. Quarry LP acquired a new position in Ardelyx in the fourth quarter valued at approximately $51,000. Finally, Rehmann Capital Advisory Group bought a new position in shares of Ardelyx during the 4th quarter worth approximately $51,000. Institutional investors 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.