Analysts expect Ardelyx, Inc. (NASDAQ:ARDX) to announce earnings of ($0.45) per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Ardelyx’s earnings, with the highest EPS estimate coming in at ($0.44) and the lowest estimate coming in at ($0.46). Ardelyx posted earnings per share of ($0.66) in the same quarter last year, which indicates a positive year over year growth rate of 31.8%. The company is expected to announce its next earnings results on Friday, February 16th.

On average, analysts expect that Ardelyx will report full year earnings of ($2.05) per share for the current year, with EPS estimates ranging from ($2.09) to ($2.01). For the next financial year, analysts forecast that the business will post earnings of ($2.00) per share, with EPS estimates ranging from ($2.95) to ($1.31). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Ardelyx.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.44) EPS for the quarter, beating the consensus estimate of ($0.54) by $0.10. During the same period last year, the firm earned ($0.65) earnings per share.

ARDX has been the subject of several research analyst reports. Cantor Fitzgerald set a $12.00 price objective on Ardelyx and gave the company a “buy” rating in a research note on Wednesday, August 9th. BidaskClub raised Ardelyx from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. ValuEngine downgraded Ardelyx from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Citigroup Inc. raised their price objective on Ardelyx from $14.00 to $19.00 and gave the company a “buy” rating in a research note on Thursday, October 12th. Finally, Leerink Swann reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Ardelyx in a research note on Tuesday, October 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $14.64.

In other news, COO Reginald Seeto sold 10,008 shares of Ardelyx stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $5.20, for a total value of $52,041.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 15.47% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in the company. Alliancebernstein L.P. grew its position in shares of Ardelyx by 7.9% in the first quarter. Alliancebernstein L.P. now owns 13,700 shares of the biopharmaceutical company’s stock valued at $173,000 after purchasing an additional 1,000 shares during the period. Parametric Portfolio Associates LLC grew its position in shares of Ardelyx by 8.9% in the second quarter. Parametric Portfolio Associates LLC now owns 27,581 shares of the biopharmaceutical company’s stock valued at $141,000 after purchasing an additional 2,252 shares during the period. Bank of America Corp DE grew its position in shares of Ardelyx by 52.6% in the first quarter. Bank of America Corp DE now owns 10,612 shares of the biopharmaceutical company’s stock valued at $134,000 after purchasing an additional 3,659 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Ardelyx by 18.5% in the second quarter. The Manufacturers Life Insurance Company now owns 31,252 shares of the biopharmaceutical company’s stock valued at $159,000 after purchasing an additional 4,871 shares during the period. Finally, Rhumbline Advisers grew its position in shares of Ardelyx by 15.6% in the second quarter. Rhumbline Advisers now owns 40,516 shares of the biopharmaceutical company’s stock valued at $207,000 after purchasing an additional 5,465 shares during the period. 78.82% of the stock is owned by institutional investors and hedge funds.

Ardelyx (NASDAQ:ARDX) traded down $0.15 during midday trading on Friday, reaching $5.95. The company had a trading volume of 290,974 shares, compared to its average volume of 502,699. Ardelyx has a 12-month low of $4.05 and a 12-month high of $16.30.

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About Ardelyx

Ardelyx, Inc is a clinical-stage biopharmaceutical company. The Company’s therapeutics focuses on addressing cardiorenal and gastrointestinal (GI) diseases. It operates through the research, development and commercialization of biopharmaceutical products segment. The Company’s products line includes cardiorenal portfolio and gastrointestinal portfolio.

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Earnings History and Estimates for Ardelyx (NASDAQ:ARDX)

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