Ardelyx (ARDX) Scheduled to Post Quarterly Earnings on Thursday

Ardelyx (NASDAQ:ARDX) is scheduled to be posting its quarterly earnings results after the market closes on Thursday, May 2nd. Analysts expect Ardelyx to post earnings of ($0.13) per share for the quarter. Persons that wish to register for the company’s earnings conference call can do so using this link.

Ardelyx (NASDAQ:ARDX) last issued its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.03). The business had revenue of $34.36 million during the quarter, compared to analyst estimates of $34.26 million. Ardelyx had a negative return on equity of 43.57% and a negative net margin of 53.08%. The business’s quarterly revenue was down 22.2% on a year-over-year basis. During the same period last year, the business earned $0.06 EPS. On average, analysts expect Ardelyx to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Ardelyx Stock Up 0.6 %

NASDAQ:ARDX opened at $6.43 on Thursday. The business’s fifty day moving average price is $7.96 and its 200 day moving average price is $6.65. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of -21.43 and a beta of 0.85. The company has a current ratio of 4.88, a quick ratio of 4.64 and a debt-to-equity ratio of 0.30. Ardelyx has a 1-year low of $3.16 and a 1-year high of $10.13.

Insiders Place Their Bets

In other Ardelyx news, insider David P. Rosenbaum sold 5,183 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $9.20, for a total value of $47,683.60. Following the completion of the sale, the insider now owns 175,936 shares of the company’s stock, valued at $1,618,611.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Ardelyx news, insider David P. Rosenbaum sold 5,183 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $9.20, for a total transaction of $47,683.60. Following the completion of the sale, the insider now directly owns 175,936 shares in the company, valued at $1,618,611.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Raab sold 7,500 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $7.06, for a total value of $52,950.00. Following the completion of the sale, the chief executive officer now directly owns 1,310,933 shares in the company, valued at $9,255,186.98. The disclosure for this sale can be found here. Insiders have sold 148,820 shares of company stock valued at $1,208,524 over the last three months. 5.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ARDX. Wedbush upped their target price on Ardelyx from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Wednesday, April 17th. Piper Sandler increased their target price on shares of Ardelyx from $12.00 to $15.00 and gave the stock an “overweight” rating in a research report on Friday, February 23rd. Raymond James lifted their target price on shares of Ardelyx from $12.00 to $15.00 and gave the company a “strong-buy” rating in a research note on Tuesday, January 9th. Leerink Partnrs reaffirmed an “outperform” rating on shares of Ardelyx in a research note on Friday, April 5th. Finally, StockNews.com cut Ardelyx from a “hold” rating to a “sell” rating in a research report on Monday, February 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ardelyx presently has a consensus rating of “Moderate Buy” and an average target price of $12.69.

About Ardelyx

Ardelyx, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines to treat gastrointestinal and cardiorenal therapeutic areas in the United States and internationally. The company's lead product candidate is tenapanor for the treatment of patients with irritable bowel syndrome with constipation.