FY2025 EPS Estimates for Ardelyx Lifted by Cantor Fitzgerald

Ardelyx, Inc. (NASDAQ:ARDX - Free Report) - Research analysts at Cantor Fitzgerald boosted their FY2025 earnings per share estimates for Ardelyx in a research report issued on Monday, July 7th. Cantor Fitzgerald analyst P. Agrawal now anticipates that the biopharmaceutical company will earn ($0.43) per share for the year, up from their prior estimate of ($0.44). The consensus estimate for Ardelyx's current full-year earnings is ($0.18) per share. Cantor Fitzgerald also issued estimates for Ardelyx's FY2026 earnings at ($0.07) EPS.

Other equities analysts have also issued research reports about the company. HC Wainwright assumed coverage on Ardelyx in a report on Wednesday, June 18th. They issued a "buy" rating and a $10.00 target price on the stock. Raymond James Financial lowered Ardelyx from a "strong-buy" rating to an "outperform" rating and set a $11.00 target price on the stock. in a report on Friday, May 2nd. Wall Street Zen lowered Ardelyx from a "hold" rating to a "sell" rating in a report on Monday, May 5th. Finally, Citigroup dropped their target price on Ardelyx from $11.00 to $10.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, one has given a hold 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $10.89.

Ardelyx Stock Down 4.5%

NASDAQ:ARDX traded down $0.21 during trading hours on Wednesday, hitting $4.49. The company's stock had a trading volume of 4,588,108 shares, compared to its average volume of 4,419,571. The stock has a market capitalization of $1.07 billion, a P/E ratio of -20.41 and a beta of 0.60. The stock has a fifty day moving average of $3.85 and a 200-day moving average of $4.72. The company has a current ratio of 4.12, a quick ratio of 3.81 and a debt-to-equity ratio of 1.04. Ardelyx has a 52-week low of $3.21 and a 52-week high of $7.18.

Ardelyx (NASDAQ:ARDX - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing analysts' consensus estimates of ($0.10) by ($0.07). The company had revenue of $74.11 million for the quarter, compared to analysts' expectations of $79.40 million. Ardelyx had a negative return on equity of 34.45% and a negative net margin of 14.86%. The firm's revenue was up 61.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.11) EPS.

Institutional Investors Weigh In On Ardelyx

Several hedge funds have recently made changes to their positions in ARDX. Millennium Management LLC boosted its stake in shares of Ardelyx by 118.2% during the first quarter. Millennium Management LLC now owns 6,465,262 shares of the biopharmaceutical company's stock worth $31,744,000 after buying an additional 3,501,782 shares during the period. Nuveen LLC acquired a new stake in shares of Ardelyx during the first quarter worth about $16,735,000. Janus Henderson Group PLC boosted its stake in shares of Ardelyx by 13.3% during the fourth quarter. Janus Henderson Group PLC now owns 24,387,941 shares of the biopharmaceutical company's stock worth $123,587,000 after buying an additional 2,858,061 shares during the period. Two Seas Capital LP acquired a new stake in shares of Ardelyx during the fourth quarter worth about $9,407,000. Finally, Rock Springs Capital Management LP acquired a new stake in shares of Ardelyx during the fourth quarter worth about $7,421,000. Institutional investors and hedge funds own 58.92% of the company's stock.

Insider Activity at Ardelyx

In other Ardelyx news, insider Mike Kelliher sold 14,522 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $4.08, for a total transaction of $59,249.76. Following the transaction, the insider owned 282,158 shares of the company's stock, valued at approximately $1,151,204.64. This trade represents a 4.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David M. Mott acquired 381,377 shares of the company's stock in a transaction on Friday, May 2nd. The shares were purchased at an average cost of $4.22 per share, for a total transaction of $1,609,410.94. Following the acquisition, the director owned 2,396,871 shares of the company's stock, valued at approximately $10,114,795.62. The trade was a 18.92% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 881,377 shares of company stock valued at $3,402,411 and have sold 125,143 shares valued at $517,667. 4.80% of the stock is owned by company 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.