Cantor Fitzgerald Increases Earnings Estimates for Ardelyx

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

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

Ardelyx Trading Up 3.0%

Ardelyx stock opened at $4.48 on Wednesday. The stock has a market capitalization of $1.07 billion, a P/E ratio of -20.36 and a beta of 0.60. The company has a debt-to-equity ratio of 1.04, a quick ratio of 3.81 and a current ratio of 4.12. The stock has a 50-day simple moving average of $3.88 and a 200 day simple moving average of $4.72. Ardelyx has a 52 week low of $3.21 and a 52 week high of $7.18.

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

Insider Transactions at Ardelyx

In other Ardelyx news, Director David M. Mott acquired 381,377 shares of the company's stock in a transaction on Friday, May 2nd. The stock was acquired at an average cost of $4.22 per share, with a total value of $1,609,410.94. Following the purchase, the director directly owned 2,396,871 shares of the company's stock, valued at approximately $10,114,795.62. This represents a 18.92% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mike Kelliher sold 14,522 shares of Ardelyx stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $4.08, for a total value of $59,249.76. Following the sale, 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 disclosure for this sale can be found here. In the last three months, 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 corporate insiders.

Institutional Trading of Ardelyx

Several large investors have recently added to or reduced their stakes in ARDX. Rhumbline Advisers grew its position in shares of Ardelyx by 4.1% during the 1st quarter. Rhumbline Advisers now owns 339,436 shares of the biopharmaceutical company's stock valued at $1,667,000 after acquiring an additional 13,312 shares during the period. Strs Ohio acquired a new position in Ardelyx in the 1st quarter valued at about $135,000. Focus Partners Wealth acquired a new position in Ardelyx in the first quarter valued at approximately $72,000. Goldman Sachs Group Inc. lifted its stake in shares of Ardelyx by 10.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,378,738 shares of the biopharmaceutical company's stock valued at $11,680,000 after purchasing an additional 221,486 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Ardelyx in the 1st quarter worth approximately $673,000. Hedge funds and other institutional investors own 58.92% 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.

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