Ardelyx, Inc. (ARDX) to Release Earnings on Monday
Ardelyx, Inc. (NASDAQ:ARDX) is set to post its quarterly earnings results after the market closes on Monday, November 6th. Analysts expect Ardelyx to post earnings of ($0.54) per share for the quarter.
Ardelyx (NASDAQ:ARDX) last released its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.54) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.09. On average, analysts expect Ardelyx to post $-2.15 EPS for the current fiscal year and $-2.28 EPS for the next fiscal year.
Ardelyx, Inc. (ARDX) opened at 5.05 on Monday. Ardelyx, Inc. 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 $5.63 and its 200-day moving average price is $6.49. The firm’s market cap is $239.60 million.
ARDX has been the subject of several recent research reports. ValuEngine upgraded Ardelyx from a “strong sell” rating to a “sell” rating in a report on Thursday, July 6th. BidaskClub raised Ardelyx from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research cut Ardelyx from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Cantor Fitzgerald set a $12.00 target price on Ardelyx and gave the company a “buy” rating in a research report on Wednesday, August 9th. Finally, Citigroup Inc. lifted their target price on Ardelyx from $14.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $16.40.
In other Ardelyx news, COO Reginald Seeto sold 10,008 shares of the business’s stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $5.20, for a total value of $52,041.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 15.47% of the stock is currently owned by insiders.
An institutional investor recently raised its position in Ardelyx stock. The Manufacturers Life Insurance Company grew its position in shares of Ardelyx, Inc. (NASDAQ:ARDX) by 18.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,252 shares of the biopharmaceutical company’s stock after buying an additional 4,871 shares during the period. The Manufacturers Life Insurance Company owned 0.07% of Ardelyx worth $159,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 78.58% of the company’s stock.
Ardelyx Company Profile
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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