Ardelyx, Inc. to Post Q3 2017 Earnings of ($0.48) Per Share, Leerink Swann Forecasts (ARDX)

Ardelyx, Inc. (NASDAQ:ARDX) – Stock analysts at Leerink Swann issued their Q3 2017 earnings estimates for Ardelyx in a research note issued on Tuesday. Leerink Swann analyst S. Fernandez forecasts that the biopharmaceutical company will earn ($0.48) per share for the quarter. Leerink Swann currently has a “Outperform” rating and a $13.00 price target on the stock. Leerink Swann also issued estimates for Ardelyx’s Q4 2017 earnings at ($0.45) EPS, FY2017 earnings at ($2.07) EPS, FY2018 earnings at ($1.80) EPS, FY2019 earnings at ($1.59) EPS, FY2020 earnings at ($0.35) EPS and FY2021 earnings at $0.58 EPS.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.54) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.09.

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Several other equities research analysts have also issued reports on ARDX. 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. Zacks Investment Research lowered Ardelyx from a “hold” rating to a “sell” rating in a research note on Tuesday. ValuEngine raised Ardelyx from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 6th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $16.40.

Shares of Ardelyx (NASDAQ:ARDX) opened at 5.40 on Thursday. Ardelyx has a 12 month low of $4.05 and a 12 month high of $16.30. The company’s market cap is $256.20 million. The firm has a 50-day moving average price of $5.64 and a 200 day moving average price of $6.80.

Several hedge funds have recently modified their holdings of the stock. Alliancebernstein L.P. lifted its stake in shares of Ardelyx by 7.9% during the 1st quarter. Alliancebernstein L.P. now owns 13,700 shares of the biopharmaceutical company’s stock worth $173,000 after acquiring an additional 1,000 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in shares of Ardelyx by 8.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 27,581 shares of the biopharmaceutical company’s stock worth $141,000 after acquiring an additional 2,252 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Ardelyx by 52.6% during the 1st quarter. Bank of America Corp DE now owns 10,612 shares of the biopharmaceutical company’s stock worth $134,000 after acquiring an additional 3,659 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Ardelyx by 18.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,252 shares of the biopharmaceutical company’s stock worth $159,000 after acquiring an additional 4,871 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Ardelyx by 15.6% during the 2nd quarter. Rhumbline Advisers now owns 40,516 shares of the biopharmaceutical company’s stock worth $207,000 after acquiring an additional 5,465 shares during the last quarter. 78.58% of the stock is owned by hedge funds and other institutional investors.

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.

Earnings History and Estimates for Ardelyx (NASDAQ:ARDX)

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