Ardelyx (ARDX) Scheduled to Post Quarterly Earnings on Thursday

Ardelyx (NASDAQ:ARDX) will post its quarterly earnings results after the market closes on Thursday, May 2nd. Analysts expect Ardelyx to post earnings of ($0.13) per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Ardelyx (NASDAQ:ARDX) last released its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.03). Ardelyx had a negative return on equity of 43.57% and a negative net margin of 53.08%. The company had revenue of $34.36 million for the quarter, compared to the consensus estimate of $34.26 million. During the same quarter in the previous year, the company posted $0.06 EPS. The business’s revenue was down 22.2% on a year-over-year basis. On average, analysts expect Ardelyx to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Ardelyx Stock Performance

Shares of Ardelyx stock traded up $0.05 on Tuesday, reaching $6.51. 239,241 shares of the company were exchanged, compared to its average volume of 5,962,212. Ardelyx has a one year low of $3.16 and a one year high of $10.13. The company has a current ratio of 4.88, a quick ratio of 4.64 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average of $7.80 and a 200 day moving average of $6.73.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ARDX. Raymond James upped their price target on shares of Ardelyx from $12.00 to $15.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 9th. Wedbush raised their target price on shares of Ardelyx from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. SVB Leerink assumed coverage on Ardelyx in a research report on Friday, April 5th. They set an “outperform” rating and a $14.00 price target on the stock. Citigroup upped their price objective on Ardelyx from $9.00 to $14.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Finally, Piper Sandler lifted their target price on Ardelyx from $12.00 to $15.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Ardelyx currently has an average rating of “Moderate Buy” and a consensus target price of $12.69.

Insider Activity

In related news, insider David P. Rosenbaum sold 5,183 shares of Ardelyx stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $9.20, for a total transaction of $47,683.60. Following the completion of the sale, the insider now directly owns 175,936 shares of the company’s stock, valued at approximately $1,618,611.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider David P. Rosenbaum sold 15,344 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $9.18, for a total transaction of $140,857.92. Following the sale, the insider now owns 384,002 shares of the company’s stock, valued at approximately $3,525,138.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider David P. Rosenbaum sold 5,183 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $9.20, for a total transaction of $47,683.60. Following the transaction, the insider now directly owns 175,936 shares of the company’s stock, valued at approximately $1,618,611.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 148,820 shares of company stock valued at $1,208,524. 5.50% of the stock is owned by insiders.

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.