Ardelyx (NASDAQ:ARDX) Posts Earnings Results, Beats Estimates By $0.02 EPS

Ardelyx (NASDAQ:ARDX) posted its earnings results on Thursday. The biopharmaceutical company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.13) by $0.02, Briefing.com reports. Ardelyx had a negative net margin of 41.36% and a negative return on equity of 41.03%. The business had revenue of $46.00 million for the quarter, compared to analyst estimates of $36.40 million. During the same quarter in the previous year, the business posted ($0.13) EPS. The business’s quarterly revenue was up 303.5% on a year-over-year basis.

Ardelyx Trading Up 28.4 %

NASDAQ ARDX opened at $8.72 on Friday. The company has a market capitalization of $2.04 billion, a price-to-earnings ratio of -31.14 and a beta of 0.87. The company has a debt-to-equity ratio of 0.30, a current ratio of 4.88 and a quick ratio of 4.64. Ardelyx has a 12 month low of $3.16 and a 12 month high of $10.13. The company’s fifty day moving average price is $7.67 and its two-hundred day moving average price is $6.81.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ARDX. Wedbush boosted their price objective on Ardelyx from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Friday. Piper Sandler upped their price target on Ardelyx from $12.00 to $15.00 and gave the stock an “overweight” rating in a report on Friday, February 23rd. StockNews.com lowered shares of Ardelyx from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. Raymond James boosted their target price on shares of Ardelyx from $12.00 to $15.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, January 9th. Finally, SVB Leerink started coverage on shares of Ardelyx in a report on Friday, April 5th. They set an “outperform” rating and a $14.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.81.

Insider Transactions at Ardelyx

In other news, CEO Michael Raab sold 30,000 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $6.40, for a total transaction of $192,000.00. Following the transaction, the chief executive officer now owns 1,310,933 shares of the company’s stock, valued at $8,389,971.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Michael Raab sold 30,000 shares of Ardelyx stock in a transaction that occurred on Monday, April 29th. The stock was sold at an average price of $6.40, for a total value of $192,000.00. Following the completion of the transaction, the chief executive officer now owns 1,310,933 shares in the company, valued at approximately $8,389,971.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert Blanks sold 5,017 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $8.75, for a total value of $43,898.75. Following the sale, the insider now directly owns 368,186 shares in the company, valued at $3,221,627.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 178,820 shares of company stock valued at $1,400,524. Insiders own 5.50% of the company’s stock.

Ardelyx Company Profile

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.