Ardelyx Inc. (ARDX) Scheduled to Post Earnings on Tuesday
Ardelyx Inc. (NASDAQ:ARDX) will be releasing its earnings data on Tuesday, November 15th. Persons interested in listening to the company’s earnings conference call can do so using this link.
Ardelyx (NASDAQ:ARDX) last posted its earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.65) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.74) by $0.09. On average, analysts expect Ardelyx to post $-2.78 EPS for the current fiscal year and $-2.38 EPS for the next fiscal year.
Ardelyx Inc. (NASDAQ:ARDX) opened at 15.95 on Monday. The firm’s market capitalization is $754.45 million. The company has a 50 day moving average of $13.28 and a 200 day moving average of $10.34. Ardelyx Inc. has a 1-year low of $6.36 and a 1-year high of $20.98.
In related news, SVP Elizabeth A. Grammer sold 6,859 shares of Ardelyx stock in a transaction on Monday, September 19th. The shares were sold at an average price of $11.21, for a total value of $76,889.39. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Jeffrey W. Jacobs sold 6,000 shares of Ardelyx stock in a transaction 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. Insiders own 15.46% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. BlackRock Fund Advisors raised its position in Ardelyx by 45.6% in the third quarter. BlackRock Fund Advisors now owns 1,504,827 shares of the biopharmaceutical company’s stock worth $19,472,000 after buying an additional 471,594 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in Ardelyx by 26.9% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 412,173 shares of the biopharmaceutical company’s stock worth $5,334,000 after buying an additional 87,385 shares during the period. Northern Trust Corp raised its position in Ardelyx by 18.1% in the third quarter. Northern Trust Corp now owns 296,027 shares of the biopharmaceutical company’s stock worth $3,830,000 after buying an additional 45,361 shares during the period. BlackRock Investment Management LLC raised its position in Ardelyx by 37.4% in the third quarter. BlackRock Investment Management LLC now owns 131,217 shares of the biopharmaceutical company’s stock worth $1,698,000 after buying an additional 35,683 shares during the period. Finally, Emerald Acquisition Ltd. purchased a new position in Ardelyx during the third quarter worth $252,000. Hedge funds and other institutional investors own 65.09% of the company’s stock.
Several equities analysts have commented on ARDX shares. Wedbush reiterated an “outperform” rating and issued a $24.00 price target on shares of Ardelyx in a research note on Tuesday, November 8th. Zacks Investment Research lowered shares of Ardelyx from a “buy” rating to a “hold” rating in a research note on Monday, October 24th. Finally, Citigroup Inc. dropped their price target on shares of Ardelyx from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, August 10th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. Ardelyx presently has a consensus rating of “Buy” and a consensus price target of $20.67.
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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