Wedbush Weighs in on Ardelyx's FY2024 Earnings (NASDAQ:ARDX)

Ardelyx, Inc. (NASDAQ:ARDX - Free Report) - Wedbush decreased their FY2024 earnings per share (EPS) estimates for shares of Ardelyx in a research note issued to investors on Thursday, January 23rd. Wedbush analyst L. Chico now forecasts that the biopharmaceutical company will earn ($0.18) per share for the year, down from their prior forecast of ($0.17). The consensus estimate for Ardelyx's current full-year earnings is ($0.17) per share. Wedbush also issued estimates for Ardelyx's Q4 2024 earnings at $0.01 EPS, Q1 2025 earnings at ($0.13) EPS, Q2 2025 earnings at ($0.09) EPS, Q3 2025 earnings at ($0.06) EPS, Q4 2025 earnings at ($0.03) EPS, FY2025 earnings at ($0.31) EPS, FY2026 earnings at $0.12 EPS, FY2027 earnings at $0.44 EPS, FY2028 earnings at $0.72 EPS and FY2029 earnings at $0.89 EPS.

Other analysts have also recently issued reports about the company. Piper Sandler increased their price objective on Ardelyx from $7.00 to $8.00 and gave the stock a "neutral" rating in a research report on Monday. Citigroup lowered their target price on Ardelyx from $12.00 to $10.00 and set a "buy" rating on the stock in a report on Monday, November 4th. 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 report on Thursday, January 2nd. Finally, HC Wainwright reaffirmed a "neutral" rating and set a $5.50 price objective on shares of Ardelyx in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Ardelyx has a consensus rating of "Moderate Buy" and an average target price of $9.42.

Ardelyx Stock Performance

Shares of ARDX stock traded down $0.06 during trading hours on Monday, hitting $5.47. The stock had a trading volume of 3,081,037 shares, compared to its average volume of 5,299,635. The stock's 50 day moving average is $5.19 and its 200 day moving average is $5.65. Ardelyx has a twelve month low of $4.32 and a twelve month high of $10.13. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87. The firm has a market capitalization of $1.29 billion, a PE ratio of -18.22 and a beta of 0.85.

Insiders Place Their Bets

In other news, insider David P. Rosenbaum sold 27,171 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $6.10, for a total transaction of $165,743.10. Following the transaction, the insider now owns 153,616 shares of the company's stock, valued at approximately $937,057.60. This trade represents a 15.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David M. Mott acquired 199,000 shares of the business's stock in a transaction on Tuesday, January 21st. The shares were purchased at an average price of $4.99 per share, for a total transaction of $993,010.00. Following the purchase, the director now directly owns 1,937,765 shares of the company's stock, valued at $9,669,447.35. This represents a 11.44 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold a total of 193,358 shares of company stock worth $1,041,766 in the last 90 days. 5.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ardelyx

Several institutional investors and hedge funds have recently made changes to their positions in the company. KBC Group NV boosted its holdings in shares of Ardelyx by 101.8% in the 4th quarter. KBC Group NV now owns 13,706 shares of the biopharmaceutical company's stock valued at $69,000 after buying an additional 6,915 shares during the period. Coastal Bridge Advisors LLC bought a new position in Ardelyx in the 2nd quarter worth approximately $74,000. Helen Stephens Group LLC acquired a new position in shares of Ardelyx during the third quarter valued at $76,000. CWM LLC grew its position in Ardelyx by 328.1% in the 3rd quarter. CWM LLC now owns 12,814 shares of the biopharmaceutical company's stock valued at $88,000 after buying an additional 9,821 shares in the last quarter. Finally, Heck Capital Advisors LLC acquired a new position in Ardelyx during the 4th quarter valued at about $121,000. 58.92% of the stock is owned by institutional investors and hedge funds.

Ardelyx Company Profile

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.