Wall Street brokerages expect that Ardelyx Inc (NASDAQ:ARDX) will report ($0.42) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Ardelyx’s earnings, with estimates ranging from ($0.51) to ($0.34). Ardelyx posted earnings of $0.21 per share in the same quarter last year, which would indicate a negative year over year growth rate of 300%. The business is scheduled to announce its next earnings results on Wednesday, March 13th.
According to Zacks, analysts expect that Ardelyx will report full year earnings of ($1.61) per share for the current year, with EPS estimates ranging from ($1.76) to ($1.49). For the next financial year, analysts expect that the firm will post earnings of ($1.65) per share, with EPS estimates ranging from ($2.01) to ($1.31). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that follow Ardelyx.
Ardelyx (NASDAQ:ARDX) last posted its earnings results on Wednesday, November 7th. The biopharmaceutical company reported ($0.39) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.41) by $0.02.
ARDX has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on Ardelyx in a report on Friday, August 24th. They set a “buy” rating and a $7.00 target price for the company. Citigroup dropped their target price on Ardelyx from $17.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, August 9th. BidaskClub raised Ardelyx from a “sell” rating to a “hold” rating in a report on Friday, September 28th. Finally, Zacks Investment Research downgraded Ardelyx from a “buy” rating to a “hold” rating in a report on Monday, August 13th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $10.82.
ARDX opened at $3.04 on Friday. Ardelyx has a fifty-two week low of $2.66 and a fifty-two week high of $8.10. The company has a debt-to-equity ratio of 0.30, a current ratio of 14.21 and a quick ratio of 14.21. The firm has a market cap of $212.84 million, a PE ratio of -2.24 and a beta of 1.33.
A number of hedge funds have recently bought and sold shares of ARDX. NEA Management Company LLC raised its stake in Ardelyx by 8.9% in the second quarter. NEA Management Company LLC now owns 15,335,047 shares of the biopharmaceutical company’s stock valued at $56,740,000 after purchasing an additional 1,251,465 shares in the last quarter. Pekin Singer Strauss Asset Management IL acquired a new position in Ardelyx in the third quarter valued at about $4,345,000. BlackRock Inc. raised its stake in Ardelyx by 37.3% in the second quarter. BlackRock Inc. now owns 3,578,459 shares of the biopharmaceutical company’s stock valued at $13,240,000 after purchasing an additional 972,883 shares in the last quarter. Millennium Management LLC raised its stake in Ardelyx by 155.2% in the second quarter. Millennium Management LLC now owns 1,083,199 shares of the biopharmaceutical company’s stock valued at $4,008,000 after purchasing an additional 658,688 shares in the last quarter. Finally, 683 Capital Management LLC acquired a new position in Ardelyx in the second quarter valued at about $2,405,000. 73.50% of the stock is owned by institutional investors and hedge funds.
Ardelyx, Inc, a specialized biopharmaceutical company, develops and sells disruptive medicines for the treatment of cardio renal and gastrointestinal diseases in the United States and Asia Pacific. 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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