HC Wainwright Issues Positive Forecast for Ardelyx Earnings

Key Points

• HC Wainwright has raised its FY2027 earnings per share estimate for Ardelyx, now projecting $0.16, up from $0.14, while maintaining a "Buy" rating and a price target of $10.00.
• Ardelyx reported a quarterly earnings of ($0.08) per share, outperforming the consensus estimate of ($0.13) and achieving revenues of $97.66 million, exceeding the $82.69 million expectation.
• Institutional investors have been increasing their holdings in Ardelyx, with notable increases from firms like Vanguard Group and ADAR1 Capital Management, now accounting for 58.92% of the stock ownership.

Ardelyx, Inc. (NASDAQ:ARDX - Free Report) - Investment analysts at HC Wainwright raised their FY2027 earnings per share estimates for shares of Ardelyx in a research report issued to clients and investors on Tuesday, August 5th. HC Wainwright analyst M. Caufield now forecasts that the biopharmaceutical company will post earnings per share of $0.16 for the year, up from their prior forecast of $0.14. HC Wainwright has a "Buy" rating and a $10.00 price target on the stock. The consensus estimate for Ardelyx's current full-year earnings is ($0.18) per share. HC Wainwright also issued estimates for Ardelyx's FY2028 earnings at $0.65 EPS and FY2029 earnings at $1.17 EPS.

Ardelyx (NASDAQ:ARDX - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The biopharmaceutical company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.05. The firm had revenue of $97.66 million for the quarter, compared to the consensus estimate of $82.69 million. Ardelyx had a negative return on equity of 35.44% and a negative net margin of 14.60%. The firm's quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.07) EPS.

ARDX has been the topic of a number of other research reports. UBS Group set a $12.00 price target on Ardelyx in a research note on Tuesday. Wedbush restated an "outperform" rating and set a $14.00 price target (up previously from $13.00) on shares of Ardelyx in a research note on Tuesday. Wall Street Zen downgraded Ardelyx from a "hold" rating to a "sell" rating in a research note on Monday, May 5th. Raymond James Financial reiterated an "outperform" rating and issued a $12.00 target price (up from $11.00) on shares of Ardelyx in a research note on Tuesday. Finally, Citigroup lowered their target price on Ardelyx from $11.00 to $10.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. One research 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's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $11.40.

Ardelyx Trading Up 16.9%

NASDAQ:ARDX opened at $5.13 on Wednesday. The stock's 50 day moving average price is $4.08 and its 200 day moving average price is $4.63. The company has a market capitalization of $1.23 billion, a PE ratio of -22.30 and a beta of 0.68. The company has a quick ratio of 3.81, a current ratio of 4.12 and a debt-to-equity ratio of 1.04. Ardelyx has a 52-week low of $3.21 and a 52-week high of $7.18.

Institutional Trading of Ardelyx

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in Ardelyx by 5.6% during the fourth quarter. Vanguard Group Inc. now owns 14,362,659 shares of the biopharmaceutical company's stock worth $72,819,000 after purchasing an additional 767,111 shares during the last quarter. Orion Portfolio Solutions LLC raised its holdings in Ardelyx by 42.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 16,486 shares of the biopharmaceutical company's stock worth $84,000 after purchasing an additional 4,933 shares during the last quarter. Geode Capital Management LLC raised its holdings in Ardelyx by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 5,509,730 shares of the biopharmaceutical company's stock worth $27,941,000 after purchasing an additional 21,988 shares during the last quarter. ADAR1 Capital Management LLC raised its holdings in Ardelyx by 384.9% during the fourth quarter. ADAR1 Capital Management LLC now owns 31,035 shares of the biopharmaceutical company's stock worth $157,000 after purchasing an additional 24,635 shares during the last quarter. Finally, Invesco Ltd. raised its holdings in Ardelyx by 9.2% during the fourth quarter. Invesco Ltd. now owns 124,945 shares of the biopharmaceutical company's stock worth $633,000 after purchasing an additional 10,514 shares during the last quarter. 58.92% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Justin A. Renz sold 7,218 shares of the firm'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 sale, the chief financial officer directly owned 416,089 shares of the company's stock, valued at $1,697,643.12. This trade represents a 1.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Laura A. Williams sold 6,421 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $4.08, for a total value of $26,197.68. Following the completion of the sale, the insider directly owned 402,583 shares of the company's stock, valued at $1,642,538.64. This represents a 1.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 500,000 shares of company stock worth $1,793,000 and sold 83,477 shares worth $340,586. 4.80% of the stock is owned by corporate insiders.

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.

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