Cantor Fitzgerald Predicts Higher Earnings for Ardelyx

Ardelyx, Inc. (NASDAQ:ARDX - Free Report) - Cantor Fitzgerald lifted their FY2025 earnings estimates for Ardelyx in a report issued on Monday, July 7th. Cantor Fitzgerald analyst P. Agrawal now forecasts that the biopharmaceutical company will earn ($0.43) per share for the year, up from their previous 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.

Several other equities analysts have also commented on the stock. Citigroup dropped their price target on shares of Ardelyx from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. HC Wainwright began coverage on shares of Ardelyx in a research report on Wednesday, June 18th. They set a "buy" rating and a $10.00 target price on the stock. Piper Sandler upgraded shares of Ardelyx to a "hold" rating in a research report on Wednesday, March 12th. Wall Street Zen lowered shares of Ardelyx from a "hold" rating to a "sell" rating in a research report on Monday, May 5th. Finally, Raymond James Financial lowered shares of Ardelyx from a "strong-buy" rating to an "outperform" rating and set a $11.00 price objective on the stock. in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Ardelyx has an average rating of "Moderate Buy" and a consensus price target of $10.89.

Ardelyx Stock Up 0.3%

Ardelyx stock traded up $0.02 during mid-day trading on Wednesday, hitting $4.62. The company had a trading volume of 1,956,891 shares, compared to its average volume of 4,397,468. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -20.93 and a beta of 0.60. Ardelyx has a 1 year low of $3.21 and a 1 year high of $7.18. The company has a quick ratio of 3.81, a current ratio of 4.12 and a debt-to-equity ratio of 1.04. The business has a fifty day moving average of $3.86 and a 200 day moving average of $4.72.

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

Insider Transactions at Ardelyx

In other Ardelyx news, insider Laura A. Williams sold 6,421 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $4.08, for a total value of $26,197.68. Following the completion of the transaction, the insider owned 402,583 shares in the company, valued at $1,642,538.64. This represents a 1.57% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Justin A. Renz sold 7,218 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $4.08, for a total value of $29,449.44. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have bought 881,377 shares of company stock worth $3,402,411 and have sold 125,143 shares worth $517,667. 4.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Ardelyx

Several large investors have recently added to or reduced their stakes in ARDX. Millennium Management LLC lifted its stake in 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 purchasing an additional 3,501,782 shares during the last quarter. Nuveen LLC bought a new position in Ardelyx during the first quarter worth $16,735,000. Janus Henderson Group PLC increased its position in Ardelyx by 13.3% in 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 Ardelyx in the fourth quarter worth $9,407,000. Finally, Rock Springs Capital Management LP acquired a new stake in Ardelyx in the fourth quarter worth $7,421,000. 58.92% of the stock is currently owned by institutional investors.

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.