Analysts expect that Ardelyx Inc (NASDAQ:ARDX) will announce $1.37 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Ardelyx’s earnings, with estimates ranging from $900,000.00 to $1.84 million. Ardelyx posted sales of $3.01 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 54.5%. The business is expected to announce its next quarterly earnings results on Wednesday, November 4th.
On average, analysts expect that Ardelyx will report full-year sales of $5.87 million for the current financial year, with estimates ranging from $5.30 million to $6.72 million. For the next financial year, analysts anticipate that the company will post sales of $46.67 million, with estimates ranging from $19.90 million to $71.52 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Ardelyx.
Ardelyx (NASDAQ:ARDX) last released its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.01). Ardelyx had a negative net margin of 1,090.69% and a negative return on equity of 65.94%. The company had revenue of $1.84 million during the quarter, compared to analyst estimates of $1.13 million.
Shares of ARDX stock traded up $0.18 on Monday, hitting $5.43. 385,419 shares of the stock traded hands, compared to its average volume of 721,992. The firm’s 50-day moving average price is $5.74 and its two-hundred day moving average price is $6.36. The company has a debt-to-equity ratio of 0.25, a quick ratio of 6.29 and a current ratio of 6.29. The stock has a market capitalization of $484.04 million, a PE ratio of -4.56 and a beta of 1.88. Ardelyx has a twelve month low of $4.16 and a twelve month high of $8.81.
In related news, SVP Jeffrey W. Jacobs sold 50,804 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $5.63, for a total transaction of $286,026.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Susan Rodriguez sold 6,087 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $6.11, for a total transaction of $37,191.57. The disclosure for this sale can be found here. Insiders have sold 168,991 shares of company stock worth $951,592 over the last quarter. Insiders own 3.96% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in ARDX. Rockefeller Capital Management L.P. purchased a new stake in shares of Ardelyx during the second quarter worth approximately $28,000. Glenmede Trust Co. NA purchased a new stake in shares of Ardelyx during the second quarter worth approximately $28,000. Ameritas Investment Partners Inc. boosted its holdings in Ardelyx by 60.4% in the first quarter. Ameritas Investment Partners Inc. now owns 5,443 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 2,050 shares in the last quarter. Great West Life Assurance Co. Can acquired a new position in Ardelyx in the second quarter valued at approximately $32,000. Finally, Victory Capital Management Inc. boosted its holdings in Ardelyx by 25.3% in the first quarter. Victory Capital Management Inc. now owns 11,960 shares of the biopharmaceutical company’s stock valued at $68,000 after purchasing an additional 2,413 shares in the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.
Ardelyx, Inc, a biopharmaceutical company, develops and sells medicines for the treatment of cardiorenal diseases in the United States and internationally. The company's lead product candidate is tenapanor, which has completed Phase 3 clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase 3 clinical trial for the treatment of hyperphosphatemia in end-stage renal disease patients on dialysis.
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