FY2016 EPS Estimates for Ardelyx Inc. (ARDX) Reduced by Analyst
Ardelyx Inc. (NASDAQ:ARDX) – Analysts at Wedbush lowered their FY2016 earnings estimates for Ardelyx in a report released on Tuesday. Wedbush analyst D. Nierengarten now expects that the brokerage will earn ($2.46) per share for the year, down from their prior forecast of ($2.34). Wedbush currently has a “Outperform” rating and a $24.00 target price on the stock. Wedbush also issued estimates for Ardelyx’s Q4 2016 earnings at ($0.66) EPS, Q1 2017 earnings at ($0.67) EPS, Q2 2017 earnings at ($0.72) EPS, Q3 2017 earnings at ($0.78) EPS, Q4 2017 earnings at $0.78 EPS, FY2017 earnings at ($1.39) EPS, FY2018 earnings at ($2.18) EPS, FY2019 earnings at ($1.17) EPS and FY2020 earnings at $0.73 EPS.
Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.65) EPS for the quarter, beating the consensus estimate of ($0.74) by $0.09.
Other equities analysts have also issued reports about the company. Zacks Investment Research upgraded Ardelyx from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Tuesday, October 11th. Citigroup Inc. decreased their price objective on Ardelyx from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, August 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $20.67.
Shares of Ardelyx (NASDAQ:ARDX) opened at 14.45 on Thursday. The firm’s market cap is $682.76 million. Ardelyx has a 52 week low of $6.36 and a 52 week high of $20.98. The stock has a 50 day moving average of $13.17 and a 200 day moving average of $10.29.
A number of large investors have recently added to or reduced their stakes in the stock. NEA Management Company LLC boosted its stake in Ardelyx by 19.4% in the third quarter. NEA Management Company LLC now owns 14,083,582 shares of the biopharmaceutical company’s stock valued at $182,242,000 after buying an additional 2,290,951 shares during the last quarter. First Manhattan Co. purchased a new stake in Ardelyx during the third quarter valued at approximately $13,633,000. BlackRock Fund Advisors boosted its stake in Ardelyx by 45.6% in the third quarter. BlackRock Fund Advisors now owns 1,504,827 shares of the biopharmaceutical company’s stock valued at $19,472,000 after buying an additional 471,594 shares during the last quarter. Deerfield Management Co. purchased a new stake in Ardelyx during the first quarter valued at approximately $2,137,000. Finally, JPMorgan Chase & Co. boosted its stake in Ardelyx by 167.3% in the second quarter. JPMorgan Chase & Co. now owns 262,556 shares of the biopharmaceutical company’s stock valued at $2,292,000 after buying an additional 164,314 shares during the last quarter. Hedge funds and other institutional investors own 65.09% of the company’s stock.
In other Ardelyx news, SVP Jeffrey W. Jacobs sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 11th. The stock was sold at an average price of $15.00, for a total value of $90,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Elizabeth A. Grammer sold 6,859 shares of the business’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 value of $76,889.39. The disclosure for this sale can be found here. 15.46% of the stock is owned by company insiders.
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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