Zacks: Analysts Anticipate Ardelyx (ARDX) Will Post Earnings of -$0.40 Per Share

Equities research analysts expect that Ardelyx (NASDAQ:ARDX) will report earnings of ($0.40) per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have made estimates for Ardelyx’s earnings, with estimates ranging from ($0.40) to ($0.39). Ardelyx posted earnings of ($0.59) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 32.2%. The company is scheduled to announce its next quarterly earnings results on Friday, May 4th.

On average, analysts expect that Ardelyx will report full year earnings of ($1.73) per share for the current financial year, with EPS estimates ranging from ($1.83) to ($1.61). For the next fiscal year, analysts anticipate that the business will post earnings of ($1.74) per share, with EPS estimates ranging from ($1.87) to ($1.61). Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Ardelyx.

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Ardelyx (NASDAQ:ARDX) last released its quarterly earnings data on Wednesday, March 14th. The biopharmaceutical company reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.39) by $0.60. The company had revenue of $42.00 million for the quarter, compared to the consensus estimate of $6.00 million.



ARDX has been the subject of a number of research analyst reports. BidaskClub raised shares of Ardelyx from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Wedbush reaffirmed an “outperform” rating on shares of Ardelyx in a research report on Thursday, March 15th. Zacks Investment Research cut shares of Ardelyx from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Cantor Fitzgerald set a $12.00 price objective on shares of Ardelyx and gave the stock a “buy” rating in a research report on Saturday, March 17th. Finally, Leerink Swann reissued an “outperform” rating and issued a $13.00 target price on shares of Ardelyx in a research report on Monday, March 19th. Three research analysts have rated the stock with a sell rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $12.93.

ARDX stock remained flat at $$5.25 during midday trading on Tuesday. 390,746 shares of the company’s stock were exchanged, compared to its average volume of 305,537. Ardelyx has a 1 year low of $4.05 and a 1 year high of $14.10. The company has a market capitalization of $249.92, a PE ratio of -3.86 and a beta of 0.79.

Institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company boosted its position in shares of Ardelyx by 18.5% in the second quarter. The Manufacturers Life Insurance Company now owns 31,252 shares of the biopharmaceutical company’s stock valued at $159,000 after acquiring an additional 4,871 shares during the period. Virtus Fund Advisers LLC bought a new stake in shares of Ardelyx in the fourth quarter valued at about $386,000. Citadel Advisors LLC boosted its position in shares of Ardelyx by 20.6% in the third quarter. Citadel Advisors LLC now owns 58,526 shares of the biopharmaceutical company’s stock valued at $328,000 after acquiring an additional 9,986 shares during the period. TIAA CREF Investment Management LLC boosted its position in shares of Ardelyx by 10.3% in the fourth quarter. TIAA CREF Investment Management LLC now owns 94,898 shares of the biopharmaceutical company’s stock valued at $626,000 after acquiring an additional 8,869 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of Ardelyx by 110.0% in the fourth quarter. Deutsche Bank AG now owns 172,616 shares of the biopharmaceutical company’s stock valued at $1,138,000 after acquiring an additional 90,431 shares during the period. 74.26% of the stock is owned by institutional investors.

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About Ardelyx

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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Earnings History and Estimates for Ardelyx (NASDAQ:ARDX)

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