Ardelyx, Inc. (NASDAQ:ARDX) – Investment analysts at Wedbush increased their Q3 2017 EPS estimates for shares of Ardelyx in a research report issued on Wednesday. Wedbush analyst D. Nierengarten now anticipates that the biopharmaceutical company will earn ($0.56) per share for the quarter, up from their prior estimate of ($0.66). Wedbush also issued estimates for Ardelyx’s Q4 2017 earnings at ($0.45) EPS, FY2017 earnings at ($2.14) EPS, FY2018 earnings at ($1.99) EPS, FY2019 earnings at ($1.75) EPS, FY2020 earnings at ($0.85) EPS and FY2021 earnings at $0.05 EPS.

A number of other analysts have also recently weighed in on ARDX. Zacks Investment Research cut Ardelyx from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. Citigroup Inc. reaffirmed a “buy” rating and issued a $12.00 price target (down previously from $17.00) on shares of Ardelyx in a research report on Monday, May 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $12.00 price target (down previously from $19.00) on shares of Ardelyx in a research report on Friday, May 19th. BTIG Research reduced their price target on Ardelyx from $18.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, May 23rd. Finally, ValuEngine cut Ardelyx from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Ardelyx currently has a consensus rating of “Buy” and an average price target of $14.13.

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Shares of Ardelyx (NASDAQ ARDX) opened at 5.10 on Monday. The stock’s market capitalization is $241.97 million. Ardelyx has a 52-week low of $4.05 and a 52-week high of $16.30. The firm’s 50-day moving average price is $5.27 and its 200-day moving average price is $9.35.

Ardelyx (NASDAQ:ARDX) last posted its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.54) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.63) by $0.09.

Several hedge funds have recently made changes to their positions in ARDX. Russell Investments Group Ltd. bought a new stake in shares of Ardelyx during the fourth quarter worth $258,000. State Street Corp boosted its stake in shares of Ardelyx by 14.9% in the fourth quarter. State Street Corp now owns 462,228 shares of the biopharmaceutical company’s stock worth $6,565,000 after buying an additional 59,813 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Ardelyx by 41.1% in the fourth quarter. Renaissance Technologies LLC now owns 66,300 shares of the biopharmaceutical company’s stock worth $941,000 after buying an additional 19,300 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of Ardelyx by 11.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 22,824 shares of the biopharmaceutical company’s stock worth $324,000 after buying an additional 2,382 shares in the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of Ardelyx by 45.1% in the fourth quarter. Teachers Advisors LLC now owns 47,230 shares of the biopharmaceutical company’s stock worth $671,000 after buying an additional 14,690 shares in the last quarter. 80.95% of the stock is owned by 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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