FY2029 Earnings Forecast for Ardelyx Issued By HC Wainwright

Ardelyx, Inc. (NASDAQ:ARDX) – Research analysts at HC Wainwright issued their FY2029 earnings estimates for shares of Ardelyx in a note issued to investors on Friday, February 21st. HC Wainwright analyst E. Arce expects that the biopharmaceutical company will post earnings per share of $1.18 for the year. HC Wainwright currently 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.

ARDX has been the subject of several other research reports. Cantor Fitzgerald upgraded shares of Ardelyx to a “strong-buy” rating in a report on Thursday, January 30th. Citigroup cut their price objective on Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Piper Sandler lifted their target price on Ardelyx from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Monday, January 27th. Raymond James restated a “strong-buy” rating and issued a $13.00 price target (down from $15.00) on shares of Ardelyx in a report on Friday, February 21st. Finally, Jefferies Financial Group reduced their price target on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Thursday, January 2nd. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Ardelyx presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.93.

Ardelyx Stock Up 1.0 %

Shares of ARDX opened at $5.18 on Monday. The company has a quick ratio of 4.31, a current ratio of 4.58 and a debt-to-equity ratio of 0.87. The business has a fifty day moving average of $5.29 and a 200 day moving average of $5.63. The company has a market cap of $1.23 billion, a PE ratio of -32.38 and a beta of 0.85. Ardelyx has a 52-week low of $4.32 and a 52-week high of $9.83.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. The business had revenue of $116.13 million during the quarter, compared to analyst estimates of $111.16 million. Ardelyx had a negative return on equity of 24.87% and a negative net margin of 11.73%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. State Street Corp boosted its holdings in Ardelyx by 1.5% in the third quarter. State Street Corp now owns 12,141,850 shares of the biopharmaceutical company’s stock worth $83,657,000 after acquiring an additional 176,789 shares in the last quarter. Rubric Capital Management LP boosted its stake in Ardelyx by 68.5% in the 3rd quarter. Rubric Capital Management LP now owns 3,060,191 shares of the biopharmaceutical company’s stock worth $21,085,000 after purchasing an additional 1,243,606 shares in the last quarter. BNP Paribas Financial Markets grew its position in Ardelyx by 274.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 181,387 shares of the biopharmaceutical company’s stock worth $1,250,000 after purchasing an additional 132,928 shares during the last quarter. Vestal Point Capital LP acquired a new position in Ardelyx during the 3rd quarter valued at approximately $3,445,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Ardelyx by 1.6% in the third quarter. JPMorgan Chase & Co. now owns 387,144 shares of the biopharmaceutical company’s stock worth $2,667,000 after buying an additional 6,093 shares during the last quarter. 58.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Ardelyx news, Director David M. Mott purchased 213,300 shares of Ardelyx stock in a transaction dated Thursday, December 19th. The shares were acquired at an average cost of $4.67 per share, with a total value 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 trade represents a 14.96 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Raab sold 25,000 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $5.26, for a total value of $131,500.00. Following the completion of the sale, the chief executive officer now directly owns 1,150,385 shares of the company’s stock, valued at $6,051,025.10. The trade was a 2.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 141,408 shares of company stock worth $761,963. Corporate insiders own 5.90% of the company’s stock.

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.