FY2016 EPS Estimates for Ardelyx Inc. (ARDX) Raised by Leerink Swann
Ardelyx Inc. (NASDAQ:ARDX) – Equities research analysts at Leerink Swann raised their FY2016 earnings per share (EPS) estimates for shares of Ardelyx in a research note issued on Monday. Leerink Swann analyst J. Gerberry now expects that the firm will post earnings of ($2.74) per share for the year, up from their prior estimate of ($3.02). Leerink Swann also issued estimates for Ardelyx’s Q4 2016 earnings at ($0.60) EPS, FY2017 earnings at ($2.11) EPS, FY2018 earnings at ($1.04) EPS, FY2019 earnings at ($0.23) EPS and FY2020 earnings at $0.72 EPS.
Several other research analysts have also recently commented on ARDX. Citigroup Inc. decreased their target price on shares of Ardelyx from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, August 10th. Zacks Investment Research cut shares of Ardelyx from a “buy” rating to a “hold” rating in a report on Friday, August 12th. Finally, Wedbush reiterated an “outperform” rating and issued a $24.00 target price on shares of Ardelyx in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the stock. Ardelyx presently has a consensus rating of “Buy” and an average price target of $20.67.
Shares of Ardelyx (NASDAQ:ARDX) opened at 14.45 on Thursday. The stock’s market capitalization is $682.76 million. Ardelyx has a 1-year low of $6.36 and a 1-year high of $20.98. The firm’s 50-day moving average is $13.17 and its 200 day moving average is $10.29.
Ardelyx (NASDAQ:ARDX) last released its quarterly earnings data on Monday, November 7th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.74) by $0.09.
A number of institutional investors have recently modified their holdings of the stock. American International Group Inc. raised its position in shares of Ardelyx by 36.8% in the second quarter. American International Group Inc. now owns 13,176 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 3,544 shares during the last quarter. Highbridge Capital Management LLC acquired a new position in shares of Ardelyx during the second quarter valued at $129,000. Citadel Advisors LLC acquired a new position in shares of Ardelyx during the third quarter valued at $134,000. Wedbush Securities Inc. acquired a new position in shares of Ardelyx during the third quarter valued at $149,000. Finally, Rhumbline Advisers raised its position in shares of Ardelyx by 25.7% in the second quarter. Rhumbline Advisers now owns 24,739 shares of the biopharmaceutical company’s stock valued at $216,000 after buying an additional 5,053 shares during the last quarter. 65.09% of the stock is currently owned by hedge funds and other institutional investors.
In related news, SVP Elizabeth A. Grammer sold 6,859 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $11.21, for a total transaction of $76,889.39. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jeffrey W. Jacobs sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 11th. The shares were sold at an average price of $15.00, for a total transaction of $90,000.00. The disclosure for this sale can be found here. 15.46% of the stock is currently owned by insiders.
Ardelyx Company Profile
Ardelyx, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of minimally systemic therapeutic drugs that work in the gastrointestinal (GI) tract to treat GI and cardio-renal diseases. The Company operates through research, development and commercialization of biopharmaceutical products segment.
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