Ardelyx Inc (NASDAQ:ARDX) Expected to Announce Earnings of -$0.27 Per Share

Brokerages expect Ardelyx Inc (NASDAQ:ARDX) to report earnings per share of ($0.27) for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Ardelyx’s earnings. Ardelyx posted earnings of ($0.37) per share in the same quarter last year, which indicates a positive year over year growth rate of 27%. The business is expected to issue its next quarterly earnings results on Wednesday, November 4th.

On average, analysts expect that Ardelyx will report full-year earnings of ($1.10) per share for the current year, with EPS estimates ranging from ($1.17) to ($1.05). For the next year, analysts expect that the firm will post earnings of ($1.09) per share, with EPS estimates ranging from ($1.47) to ($0.74). Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Ardelyx.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.27) by ($0.01). The company had revenue of $1.84 million for the quarter, compared to the consensus estimate of $1.13 million. Ardelyx had a negative return on equity of 65.94% and a negative net margin of 1,090.69%.

A number of equities analysts have recently issued reports on ARDX shares. BidaskClub cut shares of Ardelyx from a “hold” rating to a “sell” rating in a research report on Wednesday. Zacks Investment Research cut shares of Ardelyx from a “hold” rating to a “sell” rating in a research report on Tuesday, August 11th. Finally, Cowen reissued a “buy” rating on shares of Ardelyx in a research report on Wednesday, June 17th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Ardelyx has an average rating of “Hold” and a consensus price target of $11.69.

Shares of ARDX stock traded up $0.18 on Friday, reaching $5.43. 385,419 shares of the company were exchanged, compared to its average volume of 721,992. The company has a market cap of $484.04 million, a price-to-earnings ratio of -4.56 and a beta of 1.88. The company has a 50-day moving average of $5.74 and a 200-day moving average of $6.36. The company has a debt-to-equity ratio of 0.25, a current ratio of 6.29 and a quick ratio of 6.29. Ardelyx has a one year low of $4.16 and a one year high of $8.81.

In related news, CEO Michael Raab sold 106,337 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $5.61, for a total value of $596,550.57. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Jeffrey W. Jacobs sold 50,804 shares of the company’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $5.63, for a total transaction of $286,026.52. The disclosure for this sale can be found here. Insiders sold a total of 168,991 shares of company stock worth $951,592 in the last 90 days. 3.96% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the business. RA Capital Management L.P. increased its stake in Ardelyx by 19.7% in the 1st quarter. RA Capital Management L.P. now owns 6,416,684 shares of the biopharmaceutical company’s stock valued at $36,479,000 after buying an additional 1,057,821 shares during the last quarter. BlackRock Inc. increased its stake in Ardelyx by 22.3% in the 1st quarter. BlackRock Inc. now owns 5,190,309 shares of the biopharmaceutical company’s stock valued at $29,507,000 after buying an additional 947,947 shares during the last quarter. Vanguard Group Inc. increased its stake in Ardelyx by 14.3% in the 2nd quarter. Vanguard Group Inc. now owns 3,607,003 shares of the biopharmaceutical company’s stock valued at $24,961,000 after buying an additional 451,958 shares during the last quarter. Ikarian Capital LLC increased its stake in Ardelyx by 126.5% in the 1st quarter. Ikarian Capital LLC now owns 1,462,234 shares of the biopharmaceutical company’s stock valued at $8,313,000 after buying an additional 816,798 shares during the last quarter. Finally, State Street Corp increased its stake in Ardelyx by 30.0% in the 1st quarter. State Street Corp now owns 1,152,629 shares of the biopharmaceutical company’s stock valued at $6,553,000 after buying an additional 266,221 shares during the last quarter. Hedge funds and other institutional investors own 86.99% of the company’s stock.

About Ardelyx

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.

See Also: FAANG Stocks

Get a free copy of the Zacks research report on Ardelyx (ARDX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Ardelyx (NASDAQ:ARDX)

Receive News & Ratings for Ardelyx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ardelyx and related companies with MarketBeat.com's FREE daily email newsletter.