Ardelyx, Inc. to Post FY2025 Earnings of $0.25 Per Share, Leerink Partnrs Forecasts (NASDAQ:ARDX)

Ardelyx, Inc. (NASDAQ:ARDX) – Equities research analysts at Leerink Partnrs increased their FY2025 earnings per share estimates for shares of Ardelyx in a note issued to investors on Friday, May 3rd. Leerink Partnrs analyst R. Ruiz now expects that the biopharmaceutical company will earn $0.25 per share for the year, up from their prior estimate of $0.20. Leerink Partnrs currently has a “Outperform” rating on the stock. The consensus estimate for Ardelyx’s current full-year earnings is ($0.44) per share.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.02. Ardelyx had a negative net margin of 41.36% and a negative return on equity of 41.65%. The firm had revenue of $46.00 million during the quarter, compared to analysts’ expectations of $36.40 million. During the same quarter last year, the business earned ($0.13) earnings per share. The business’s revenue for the quarter was up 303.5% compared to the same quarter last year.

Several other equities analysts also recently weighed in on the stock. SVB Leerink initiated coverage on shares of Ardelyx in a report on Friday, April 5th. They set an “outperform” rating and a $14.00 target price for the company. StockNews.com cut shares of Ardelyx from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. Citigroup lifted their price objective on Ardelyx from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Ardelyx in a report on Friday, January 12th. Finally, Raymond James boosted their price target on Ardelyx from $12.00 to $15.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Ardelyx currently has an average rating of “Moderate Buy” and an average price target of $12.81.

Ardelyx Trading Up 4.9 %

Shares of ARDX stock opened at $9.15 on Monday. The stock has a market cap of $2.14 billion, a P/E ratio of -32.68 and a beta of 0.87. The company has a quick ratio of 4.36, a current ratio of 4.53 and a debt-to-equity ratio of 0.66. Ardelyx has a fifty-two week low of $3.16 and a fifty-two week high of $10.13. The business has a fifty day simple moving average of $7.67 and a 200-day simple moving average of $6.87.

Hedge Funds Weigh In On Ardelyx

Several institutional investors have recently made changes to their positions in the stock. Eventide Asset Management LLC lifted its position in Ardelyx by 152.5% in the 4th quarter. Eventide Asset Management LLC now owns 6,805,494 shares of the biopharmaceutical company’s stock valued at $42,194,000 after purchasing an additional 4,110,494 shares during the last quarter. Rubric Capital Management LP bought a new stake in shares of Ardelyx during the third quarter valued at approximately $10,200,000. Adage Capital Partners GP L.L.C. acquired a new position in shares of Ardelyx during the third quarter worth approximately $9,384,000. Charles Schwab Investment Management Inc. grew its holdings in Ardelyx by 185.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,666,267 shares of the biopharmaceutical company’s stock worth $6,798,000 after buying an additional 1,082,554 shares in the last quarter. Finally, Barclays PLC increased its position in Ardelyx by 93.5% in the 3rd quarter. Barclays PLC now owns 1,895,327 shares of the biopharmaceutical company’s stock valued at $7,732,000 after acquiring an additional 915,971 shares during the period. 58.92% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Michael Raab sold 30,000 shares of the company’s stock in a transaction dated 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 sale, 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 document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Elizabeth A. Grammer sold 86,000 shares of Ardelyx stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $7.73, for a total value of $664,780.00. Following the completion of the sale, the insider now owns 312,993 shares in the company, valued at $2,419,435.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Raab sold 30,000 shares of the company’s 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 completion of the sale, the chief executive officer now owns 1,310,933 shares in the company, valued at approximately $8,389,971.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 178,820 shares of company stock valued at $1,400,524. 5.50% of the stock is currently owned by corporate insiders.

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.