Ardelyx, Inc. Expected to Earn FY2017 Earnings of ($1.88) Per Share (ARDX)

Ardelyx, Inc. (NASDAQ:ARDX) – Equities research analysts at Wedbush raised their FY2017 EPS estimates for shares of Ardelyx in a note issued to investors on Tuesday. Wedbush analyst D. Nierengarten now forecasts that the biopharmaceutical company will post earnings of ($1.88) per share for the year, up from their previous estimate of ($2.01). Wedbush currently has a “Outperform” rating and a $12.00 target price on the stock. Wedbush also issued estimates for Ardelyx’s Q4 2017 earnings at ($0.31) EPS, Q1 2018 earnings at ($0.20) EPS, Q2 2018 earnings at ($0.21) EPS, Q3 2018 earnings at ($0.23) EPS, Q4 2018 earnings at ($0.24) EPS, FY2018 earnings at ($0.88) EPS, FY2019 earnings at ($1.31) EPS, FY2020 earnings at ($0.31) EPS and FY2021 earnings at $0.45 EPS.

ARDX has been the topic of several other reports. Citigroup lifted their target price on shares of Ardelyx from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Wednesday. Leerink Swann reiterated an “outperform” rating and issued a $13.00 price target on shares of Ardelyx in a report on Tuesday, October 17th. Ladenburg Thalmann Financial Services cut their price target on shares of Ardelyx from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, November 22nd. Cantor Fitzgerald reiterated a “buy” rating and issued a $12.00 price target on shares of Ardelyx in a report on Tuesday, November 21st. Finally, Zacks Investment Research upgraded shares of Ardelyx from a “sell” rating to a “buy” rating and set a $6.50 price target on the stock in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. Ardelyx currently has an average rating of “Buy” and an average price target of $12.64.

Shares of Ardelyx (NASDAQ:ARDX) traded up $0.25 during trading on Friday, reaching $6.65. 580,900 shares of the company’s stock traded hands, compared to its average volume of 502,635. Ardelyx has a twelve month low of $4.05 and a twelve month high of $16.30.

Ardelyx (NASDAQ:ARDX) last announced its earnings results on Tuesday, November 7th. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $0.10. During the same quarter in the prior year, the business earned ($0.65) EPS.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Ardelyx by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 1,229,557 shares of the biopharmaceutical company’s stock worth $15,554,000 after purchasing an additional 47,853 shares during the period. IndexIQ Advisors LLC boosted its position in Ardelyx by 83.1% during the third quarter. IndexIQ Advisors LLC now owns 68,517 shares of the biopharmaceutical company’s stock valued at $384,000 after purchasing an additional 31,104 shares in the last quarter. Kennedy Capital Management Inc. bought a new stake in Ardelyx during the second quarter valued at about $1,274,000. Teachers Advisors LLC boosted its position in Ardelyx by 549.9% during the first quarter. Teachers Advisors LLC now owns 306,935 shares of the biopharmaceutical company’s stock valued at $3,883,000 after purchasing an additional 259,705 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Ardelyx by 5.0% during the first quarter. Geode Capital Management LLC now owns 184,664 shares of the biopharmaceutical company’s stock valued at $2,335,000 after purchasing an additional 8,855 shares in the last quarter.

In other Ardelyx news, COO Reginald Seeto sold 10,008 shares of the business’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $5.20, for a total value of $52,041.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 15.47% of the company’s stock.

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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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