HC Wainwright Analysts Reduce Earnings Estimates for Ardelyx

Key Points

• HC Wainwright cut its FY2028 EPS estimate for Ardelyx to $0.58 from $0.66, while keeping a Buy rating and $13 price target.
• Ardelyx’s latest reported quarter showed product revenue up 19% year over year to $125.5 million, break-even EPS, and enrollment completed ahead of schedule in its Phase 3 ACCEL trial.
• A pending securities class action alleges the company’s disclosures understated access barriers affecting IBSRELA and XPHOZAH; the claims are allegations and could add uncertainty and costs.

Ardelyx, Inc. (NASDAQ:ARDX - Free Report) - HC Wainwright reduced their FY2028 earnings per share (EPS) estimates for shares of Ardelyx in a research note issued on Wednesday, November 4th. HC Wainwright analyst M. Caufield now anticipates that the biopharmaceutical company will post earnings of $0.58 per share for the year, down from their previous estimate of $0.66. HC Wainwright has a "Buy" rating and a $13.00 price objective on the stock. The consensus estimate for Ardelyx's current full-year earnings is ($0.20) per share.

A number of other brokerages also recently commented on ARDX. Piper Sandler dropped their price objective on shares of Ardelyx from $16.00 to $15.00 and set an "overweight" rating on the stock in a research report on Monday, August 17th. Wedbush reaffirmed an "outperform" rating and set a $9.00 price objective on shares of Ardelyx in a research report on Tuesday, August 18th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Ardelyx in a research note on Friday, September 25th. TD Cowen dropped their target price on Ardelyx from $13.00 to $10.00 and set a "buy" rating on the stock in a report on Friday, August 7th. Finally, Zacks Research raised Ardelyx from a "strong sell" rating to a "hold" rating in a report on Friday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Ardelyx presently has an average rating of "Moderate Buy" and a consensus target price of $13.90.

Ardelyx Stock Up 8.6%

Shares of Ardelyx stock opened at $3.29 on Thursday. The firm's 50 day moving average price is $3.39 and its 200-day moving average price is $5.28. The company has a quick ratio of 3.15, a current ratio of 3.34 and a debt-to-equity ratio of 1.69. Ardelyx has a 52-week low of $2.95 and a 52-week high of $8.40. The company has a market cap of $819.83 million, a P/E ratio of -14.95 and a beta of 0.79.

Ardelyx (NASDAQ:ARDX - Get Free Report) last released its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.02). Ardelyx had a negative return on equity of 35.82% and a negative net margin of 11.85%. The company had revenue of $120.88 million for the quarter, compared to analyst estimates of $121.03 million. During the same period last year, the company posted ($0.08) earnings per share. The business's revenue for the quarter was up 34.3% compared to the same quarter last year.

Insider Buying and Selling

In other Ardelyx news, insider Laura A. Williams sold 10,739 shares of the firm's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $3.86, for a total transaction of $41,452.54. Following the sale, the insider owned 367,456 shares in the company, valued at $1,418,380.16. This trade represents a 2.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Eric Foster sold 8,562 shares of Ardelyx stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $3.86, for a total value of $33,049.32. Following the sale, the insider directly owned 409,410 shares of the company's stock, valued at approximately $1,580,322.60. This trade represents a 2.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 126,059 shares of company stock valued at $486,588 in the last three months. 5.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ardelyx

Institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. boosted its holdings in Ardelyx by 22.7% during the first quarter. Principal Financial Group Inc. now owns 17,570 shares of the biopharmaceutical company's stock valued at $105,000 after purchasing an additional 3,253 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Ardelyx by 30.0% in the 2nd quarter. NewEdge Advisors LLC now owns 23,724 shares of the biopharmaceutical company's stock worth $121,000 after buying an additional 5,476 shares in the last quarter. Swiss National Bank raised its holdings in shares of Ardelyx by 1.2% in the 1st quarter. Swiss National Bank now owns 480,800 shares of the biopharmaceutical company's stock worth $2,880,000 after buying an additional 5,600 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its position in shares of Ardelyx by 15.6% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 45,467 shares of the biopharmaceutical company's stock worth $154,000 after buying an additional 6,152 shares during the period. Finally, Profund Advisors LLC lifted its position in shares of Ardelyx by 6.1% during the 3rd quarter. Profund Advisors LLC now owns 111,771 shares of the biopharmaceutical company's stock worth $382,000 after buying an additional 6,433 shares during the period. 58.92% of the stock is currently owned by institutional investors.

Key Stories Impacting Ardelyx

Here are the key news stories impacting Ardelyx this week:

• Positive Sentiment: Q3 product revenue rose 19% year over year to $125.5 million. IBSRELA revenue increased 23% to $96.3 million, and Ardelyx reported break-even EPS versus analyst expectations for a loss of $0.03. The company maintained its full-year IBSRELA revenue outlook of $350 million to $370 million. Ardelyx Q3 2026 results
• Positive Sentiment: Ardelyx completed enrollment ahead of schedule in the Phase 3 ACCEL trial of IBSRELA for chronic idiopathic constipation. Topline results are expected in the second half of 2027, providing a potential future growth opportunity. ACCEL trial enrollment announcement
• Neutral Sentiment: The company had $285.3 million in cash, cash equivalents and investments at quarter-end, providing resources to support operations and development. Ardelyx Q3 2026 results
• Negative Sentiment: Several law firms publicized a pending securities class action and the November 16 lead-plaintiff deadline. The suit alleges Ardelyx’s statements about patient access and sales prospects for IBSRELA and XPHOZAH did not adequately reflect payer prior-authorization and step-edit barriers that allegedly slowed new-patient starts. These are allegations, not proven findings; the litigation may create uncertainty and costs. Class-action deadline notice

Ardelyx Company Profile

Ardelyx, Inc is a biopharmaceutical company focused on developing and commercializing therapies for gastrointestinal and cardiorenal diseases. The company's platform is centered on regulating ion transport in the gut, with the goal of addressing conditions that are inadequately served by existing treatments.

Ardelyx's marketed products include IBSRELA (tenapanor), an oral treatment for adults with irritable bowel syndrome with constipation, and XPHOZAH (tenapanor), a therapy designed to reduce serum phosphorus in adults with chronic kidney disease on dialysis who have an inadequate response to, or are intolerant of, phosphate binders.

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