Cantor Fitzgerald Raises Earnings Estimates for Ardelyx

Key Points

• Cantor Fitzgerald has raised their FY2025 earnings per share estimate for Ardelyx to ($0.35), an increase from the previous estimate of ($0.36).
• Ardelyx's stock currently has a consensus rating of "Moderate Buy" with an average price target of $11.70, following multiple analysts' reports.
• Insider trading activity saw substantial share sales, with insiders selling over 165,000 shares valued at nearly $1 million in the last three months.

Ardelyx, Inc. (NASDAQ:ARDX - Free Report) - Equities researchers at Cantor Fitzgerald boosted their FY2025 earnings per share (EPS) estimates for Ardelyx in a report issued on Wednesday, October 22nd. Cantor Fitzgerald analyst P. Agrawal now forecasts that the biopharmaceutical company will post earnings per share of ($0.35) for the year, up from their previous forecast of ($0.36). The consensus estimate for Ardelyx's current full-year earnings is ($0.18) per share.

Several other research analysts have also recently issued reports on ARDX. Piper Sandler raised their target price on Ardelyx from $8.00 to $9.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 6th. UBS Group set a $12.00 target price on Ardelyx in a research report on Tuesday, August 5th. Weiss Ratings reissued a "sell (d-)" rating on shares of Ardelyx in a research report on Wednesday, October 8th. Raymond James Financial initiated coverage on Ardelyx in a research report on Wednesday, September 3rd. They issued a "strong-buy" rating and a $14.00 target price on the stock. Finally, Wall Street Zen raised Ardelyx from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $11.70.

Ardelyx Trading Down 1.7%

Shares of NASDAQ:ARDX opened at $5.06 on Friday. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -22.00 and a beta of 0.67. The company has a debt-to-equity ratio of 1.44, a quick ratio of 4.03 and a current ratio of 4.30. The stock's 50-day simple moving average is $5.85 and its two-hundred day simple moving average is $4.82. Ardelyx has a 52-week low of $3.21 and a 52-week high of $6.78.

Ardelyx (NASDAQ:ARDX - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The biopharmaceutical company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.05. The company had revenue of $97.66 million for the quarter, compared to analysts' expectations of $82.69 million. Ardelyx had a negative return on equity of 36.57% and a negative net margin of 14.60%.Ardelyx's revenue was up 23.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.07) earnings per share.

Institutional Trading of Ardelyx

Hedge funds have recently modified their holdings of the company. DCF Advisers LLC purchased a new stake in shares of Ardelyx during the 2nd quarter worth approximately $39,000. Brighton Jones LLC bought a new position in Ardelyx in the 2nd quarter valued at $40,000. Focus Partners Advisor Solutions LLC bought a new position in Ardelyx in the 1st quarter valued at $56,000. Vontobel Holding Ltd. bought a new position in Ardelyx in the 3rd quarter valued at $63,000. Finally, CHICAGO TRUST Co NA bought a new position in Ardelyx in the 3rd quarter valued at $73,000. 58.92% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ardelyx

In related news, insider Elizabeth A. Grammer sold 5,841 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $5.93, for a total value of $34,637.13. Following the transaction, the insider directly owned 305,890 shares of the company's stock, valued at approximately $1,813,927.70. The trade was a 1.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Justin A. Renz sold 7,037 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $5.93, for a total value of $41,729.41. Following the completion of the transaction, the chief financial officer directly owned 409,052 shares in the company, valued at approximately $2,425,678.36. This represents a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 165,551 shares of company stock valued at $996,917. Company 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.

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