Ardelyx Inc Forecasted to Post FY2020 Earnings of ($1.36) Per Share (NASDAQ:ARDX)

Ardelyx Inc (NASDAQ:ARDX) – Equities researchers at Svb Leerink lifted their FY2020 earnings estimates for Ardelyx in a research report issued to clients and investors on Tuesday, December 3rd. Svb Leerink analyst A. Fadia now forecasts that the biopharmaceutical company will earn ($1.36) per share for the year, up from their previous forecast of ($1.43). Svb Leerink currently has a “Outperform” rating and a $9.00 target price on the stock. Svb Leerink also issued estimates for Ardelyx’s FY2021 earnings at ($1.12) EPS, FY2022 earnings at ($0.15) EPS and FY2023 earnings at $0.81 EPS.

A number of other brokerages have also recently issued reports on ARDX. ValuEngine cut shares of Ardelyx from a “sell” rating to a “strong sell” rating in a research note on Wednesday. Zacks Investment Research upgraded shares of Ardelyx from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Piper Jaffray Companies set a $15.00 price target on shares of Ardelyx and gave the stock a “buy” rating in a research note on Thursday, October 17th. Leerink Swann set a $9.00 price target on shares of Ardelyx and gave the company a “buy” rating in a research report on Tuesday, September 24th. Finally, Jefferies Financial Group upped their price target on shares of Ardelyx from $6.00 to $11.00 and gave the company a “buy” rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $9.25.

Shares of ARDX opened at $6.53 on Friday. The firm has a market cap of $410.79 million, a price-to-earnings ratio of -4.03 and a beta of 1.76. The company has a debt-to-equity ratio of 1.07, a quick ratio of 6.27 and a current ratio of 6.27. Ardelyx has a fifty-two week low of $1.60 and a fifty-two week high of $8.31. The firm has a 50 day moving average price of $5.90 and a 200-day moving average price of $3.97.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.37) EPS for the quarter, meeting analysts’ consensus estimates of ($0.37). The business had revenue of $3.01 million for the quarter.

Several institutional investors have recently modified their holdings of ARDX. Jane Street Group LLC bought a new stake in Ardelyx during the 2nd quarter valued at $29,000. Citadel Advisors LLC bought a new stake in Ardelyx in the 2nd quarter worth $37,000. Metropolitan Life Insurance Co NY bought a new stake in Ardelyx in the 3rd quarter worth $86,000. Tower Research Capital LLC TRC bought a new stake in Ardelyx in the 3rd quarter worth $87,000. Finally, Millennium Management LLC purchased a new position in shares of Ardelyx in the third quarter valued at about $117,000. Hedge funds and other institutional investors own 77.14% of the company’s stock.

In other news, CFO Mark Kaufmann sold 20,000 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $4.56, for a total transaction of $91,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Elizabeth A. Grammer sold 5,000 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $6.80, for a total value of $34,000.00. Over the last 90 days, insiders have sold 30,000 shares of company stock worth $160,200. 15.31% of the stock is owned by corporate insiders.

Ardelyx Company Profile

Ardelyx, Inc, a specialized biopharmaceutical company, develops and sells medicines for the treatment of cardio renal diseases in the United States and internationally. The company's lead product candidate is tenapanor, which has completed Phase III clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase III clinical trial for the treatment of hyperphosphatemia in end-stage renal disease patients on dialysis.

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Earnings History and Estimates for Ardelyx (NASDAQ:ARDX)

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