Wall Street analysts expect that Ardelyx, Inc. (NASDAQ:ARDX) will announce ($0.52) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Ardelyx’s earnings, with the highest EPS estimate coming in at ($0.48) and the lowest estimate coming in at ($0.56). Ardelyx reported earnings per share of ($0.65) in the same quarter last year, which would suggest a positive year over year growth rate of 20%. The company is expected to announce its next quarterly earnings results on Monday, November 6th.
According to Zacks, analysts expect that Ardelyx will report full-year earnings of ($2.15) per share for the current financial year, with EPS estimates ranging from ($2.22) to ($2.07). For the next fiscal year, analysts forecast that the firm will post earnings of ($2.28) per share, with EPS estimates ranging from ($2.95) to ($1.80). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Ardelyx.
Ardelyx (NASDAQ:ARDX) last posted its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.54) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.09.
Several brokerages have issued reports on ARDX. Leerink Swann reaffirmed an “outperform” rating and set a $13.00 price target on shares of Ardelyx in a research note on Tuesday. BidaskClub raised Ardelyx from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Zacks Investment Research lowered Ardelyx from a “hold” rating to a “sell” rating in a research note on Tuesday. Cantor Fitzgerald lifted their price target on Ardelyx from $12.00 to $14.00 and gave the stock an “overweight” rating in a research note on Thursday, October 12th. Finally, Citigroup Inc. lifted their price target on Ardelyx from $14.00 to $19.00 and gave the stock a “buy” rating in a research note on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $16.40.
Ardelyx (NASDAQ ARDX) traded up 5.2315% during trading on Monday, reaching $5.6825. The company’s stock had a trading volume of 869,719 shares. The stock has a 50-day moving average price of $5.64 and a 200 day moving average price of $6.80. The company’s market cap is $269.61 million. Ardelyx has a 52-week low of $4.05 and a 52-week high of $16.30.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL bought a new stake in shares of Ardelyx in the 2nd quarter valued at about $111,000. KCG Holdings Inc. bought a new stake in shares of Ardelyx in the 1st quarter valued at about $127,000. State of Wisconsin Investment Board bought a new stake in shares of Ardelyx in the 2nd quarter valued at about $128,000. Bank of America Corp DE lifted its stake in shares of Ardelyx by 52.6% in the 1st quarter. Bank of America Corp DE now owns 10,612 shares of the biopharmaceutical company’s stock valued at $134,000 after acquiring an additional 3,659 shares during the last quarter. Finally, Willingdon Wealth Management bought a new stake in shares of Ardelyx in the 2nd quarter valued at about $134,000. 78.58% of the stock is owned by institutional investors.
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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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