Cantor Fitzgerald Expects Higher Earnings for Ardelyx

Ardelyx, Inc. (NASDAQ:ARDX - Free Report) - Cantor Fitzgerald increased their FY2025 earnings per share estimates for Ardelyx in a research report issued on Monday, July 7th. Cantor Fitzgerald analyst P. Agrawal now expects that the biopharmaceutical company will post earnings per share of ($0.43) 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.

A number of other research analysts have also commented on ARDX. HC Wainwright started coverage on Ardelyx in a report on Wednesday, June 18th. They set a "buy" rating and a $10.00 price target on the stock. Citigroup lowered their price target on Ardelyx from $11.00 to $10.00 and set a "buy" rating 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. Piper Sandler raised Ardelyx to a "hold" rating in a report on Wednesday, March 12th. Finally, 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. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $10.89.

Ardelyx Stock Performance

Shares of ARDX traded up $0.12 during trading hours on Wednesday, reaching $4.60. 6,907,803 shares of the company's stock traded hands, compared to its average volume of 4,406,934. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -20.91 and a beta of 0.60. The company has a debt-to-equity ratio of 1.04, a current ratio of 4.12 and a quick ratio of 3.81. Ardelyx has a twelve month low of $3.21 and a twelve month high of $7.18. The business's fifty day simple moving average is $3.88 and its two-hundred day simple moving average is $4.72.

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

Institutional Investors Weigh In On Ardelyx

Several institutional investors have recently made changes to their positions in ARDX. Millennium Management LLC lifted its holdings in shares of Ardelyx by 118.2% during the 1st quarter. Millennium Management LLC now owns 6,465,262 shares of the biopharmaceutical company's stock valued at $31,744,000 after buying an additional 3,501,782 shares during the last quarter. Nuveen LLC acquired a new stake in Ardelyx in the 1st quarter worth approximately $16,735,000. Janus Henderson Group PLC lifted its holdings in Ardelyx by 13.3% in the 4th quarter. Janus Henderson Group PLC now owns 24,387,941 shares of the biopharmaceutical company's stock worth $123,587,000 after purchasing an additional 2,858,061 shares during the last quarter. Two Seas Capital LP acquired a new stake in Ardelyx in the 4th quarter worth approximately $9,407,000. Finally, Rock Springs Capital Management LP acquired a new stake in Ardelyx in the 4th quarter worth approximately $7,421,000. 58.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Ardelyx

In other news, insider Laura A. Williams sold 6,421 shares of Ardelyx stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $4.08, for a total transaction of $26,197.68. Following the completion of the sale, the insider directly owned 402,583 shares in the company, valued at $1,642,538.64. The trade was a 1.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Justin A. Renz sold 7,218 shares of Ardelyx stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $4.08, for a total value of $29,449.44. Following the sale, the chief financial officer owned 416,089 shares of the company's stock, valued at approximately $1,697,643.12. This represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 881,377 shares of company stock worth $3,402,411 and sold 125,143 shares worth $517,667. Corporate insiders own 4.80% of the company's stock.

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.