Q3 2024 EPS Estimates for Ardelyx, Inc. Raised by HC Wainwright (NASDAQ:ARDX)

Ardelyx, Inc. (NASDAQ:ARDX) – Equities researchers at HC Wainwright lifted their Q3 2024 earnings estimates for Ardelyx in a research note issued to investors on Monday, August 5th. HC Wainwright analyst E. Arce now expects that the biopharmaceutical company will post earnings of ($0.07) per share for the quarter, up from their prior estimate of ($0.09). HC Wainwright has a “Buy” rating and a $11.00 price target on the stock. The consensus estimate for Ardelyx’s current full-year earnings is ($0.34) per share. HC Wainwright also issued estimates for Ardelyx’s FY2024 earnings at ($0.30) EPS, Q1 2025 earnings at ($0.04) EPS, Q2 2025 earnings at $0.00 EPS, Q3 2025 earnings at $0.02 EPS, Q4 2025 earnings at $0.03 EPS, FY2025 earnings at $0.00 EPS and FY2026 earnings at $0.61 EPS.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.11) by $0.04. The firm had revenue of $73.20 million for the quarter, compared to the consensus estimate of $55.03 million. Ardelyx had a negative net margin of 31.02% and a negative return on equity of 38.41%. The company’s quarterly revenue was up 228.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.08) earnings per share.

Several other research firms have also recently weighed in on ARDX. StockNews.com raised shares of Ardelyx from a “sell” rating to a “hold” rating in a research report on Wednesday, July 31st. Piper Sandler cut shares of Ardelyx from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $15.00 to $7.00 in a report on Tuesday, July 2nd. Wedbush reissued an “outperform” rating and issued a $11.00 target price on shares of Ardelyx in a report on Friday, August 2nd. Cantor Fitzgerald reissued an “overweight” rating on shares of Ardelyx in a report on Thursday, June 20th. Finally, Citigroup increased their target price on shares of Ardelyx from $10.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.43.

Ardelyx Trading Up 5.8 %

Shares of Ardelyx stock opened at $5.87 on Wednesday. The firm has a 50-day moving average of $6.05 and a 200-day moving average of $7.35. The stock has a market cap of $1.37 billion, a PE ratio of -20.96 and a beta of 0.83. Ardelyx has a 52-week low of $3.16 and a 52-week high of $10.13. The company has a debt-to-equity ratio of 0.66, a quick ratio of 4.36 and a current ratio of 4.53.

Insider Activity

In other Ardelyx news, insider David P. Rosenbaum sold 17,872 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $7.00, for a total transaction of $125,104.00. Following the completion of the sale, the insider now owns 158,502 shares of the company’s stock, valued at approximately $1,109,514. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ardelyx news, insider Laura A. Williams sold 145,000 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $7.12, for a total transaction of $1,032,400.00. Following the completion of the sale, the insider now owns 322,152 shares of the company’s stock, valued at approximately $2,293,722.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David P. Rosenbaum sold 17,872 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $7.00, for a total transaction of $125,104.00. Following the sale, the insider now directly owns 158,502 shares of the company’s stock, valued at approximately $1,109,514. The disclosure for this sale can be found here. Insiders sold 286,182 shares of company stock valued at $1,920,302 over the last quarter. 5.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ardelyx

Institutional investors and hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC boosted its holdings in shares of Ardelyx by 1,026.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 3,233 shares in the last quarter. HighMark Wealth Management LLC bought a new position in shares of Ardelyx during the 1st quarter worth approximately $36,000. Jump Financial LLC bought a new position in shares of Ardelyx during the 4th quarter worth approximately $63,000. Newbridge Financial Services Group Inc. bought a new position in shares of Ardelyx in the 1st quarter worth $64,000. Finally, Vontobel Holding Ltd. bought a new position in shares of Ardelyx in the 4th quarter worth $74,000. 58.92% of the stock is currently owned by institutional investors.

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.