Brokerages Anticipate Ardelyx, Inc. (ARDX) to Announce -$0.56 Earnings Per Share
Analysts expect Ardelyx, Inc. (NASDAQ:ARDX) to post ($0.56) earnings per share for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Ardelyx’s earnings. Ardelyx posted earnings of ($0.65) per share during the same quarter last year, which suggests a positive year over year growth rate of 13.8%. The business is scheduled to issue its next quarterly earnings results on Monday, November 6th.
On average, analysts expect that Ardelyx will report full year earnings of ($2.16) per share for the current year, with EPS estimates ranging from ($2.22) to ($2.13). For the next fiscal year, analysts expect that the business will post earnings of ($2.43) per share, with EPS estimates ranging from ($2.95) to ($1.99). Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Ardelyx.
Ardelyx (NASDAQ:ARDX) last announced its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.09.
Several equities research analysts recently commented on ARDX shares. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Ardelyx in a research report on Wednesday, May 31st. Zacks Investment Research raised shares of Ardelyx from a “hold” rating to a “buy” rating and set a $6.75 price objective on the stock in a research report on Tuesday, May 23rd. BTIG Research cut their price objective on shares of Ardelyx from $18.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, May 23rd. Citigroup Inc. reaffirmed a “buy” rating and issued a $12.00 price objective (down from $17.00) on shares of Ardelyx in a research report on Monday, May 15th. Finally, BidaskClub raised shares of Ardelyx from a “sell” rating to a “hold” rating in a research report on Wednesday, August 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $14.13.
Shares of Ardelyx (NASDAQ ARDX) remained flat at $5.65 during mid-day trading on Friday. 183,855 shares of the company’s stock were exchanged. The stock’s market capitalization is $268.06 million. The company’s 50 day moving average price is $5.10 and its 200 day moving average price is $8.43. Ardelyx has a 12 month low of $4.05 and a 12 month high of $16.30.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Tudor Investment Corp ET AL bought a new stake in Ardelyx in the 2nd quarter valued at $111,000. KCG Holdings Inc. bought a new stake in Ardelyx in the 1st quarter valued at $127,000. State of Wisconsin Investment Board bought a new stake in Ardelyx in the 2nd quarter valued at $128,000. Bank of America Corp DE lifted its position in 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 in the last quarter. Finally, Willingdon Wealth Management bought a new stake in Ardelyx in the 2nd quarter valued at $134,000. 78.58% of the stock is currently owned by institutional investors and hedge funds.
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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