-$0.19 Earnings Per Share Expected for Ardelyx, Inc. (NASDAQ:ARDX) This Quarter

Wall Street brokerages expect Ardelyx, Inc. (NASDAQ:ARDX – Get Rating) to report earnings of ($0.19) per share for the current quarter, according to Zacks. Three analysts have made estimates for Ardelyx’s earnings, with the lowest EPS estimate coming in at ($0.20) and the highest estimate coming in at ($0.17). Ardelyx reported earnings per share of ($0.45) in the same quarter last year, which would suggest a positive year over year growth rate of 57.8%. The firm is expected to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Ardelyx will report full year earnings of ($0.72) per share for the current fiscal year, with EPS estimates ranging from ($0.82) to ($0.65). For the next financial year, analysts expect that the company will post earnings of ($0.35) per share, with EPS estimates ranging from ($0.83) to $0.27. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Ardelyx.

Ardelyx (NASDAQ:ARDX – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The biopharmaceutical company reported ($0.21) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.01. Ardelyx had a negative return on equity of 177.07% and a negative net margin of 3,843.36%. During the same quarter last year, the company posted ($0.34) earnings per share.

Several research firms have commented on ARDX. Piper Sandler cut their price target on Ardelyx from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Wednesday. Zacks Investment Research cut Ardelyx from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. StockNews.com began coverage on shares of Ardelyx in a research report on Thursday, March 31st. They set a “sell” rating for the company. Jefferies Financial Group raised shares of Ardelyx from a “hold” rating to a “buy” rating and upped their price target for the company from $1.00 to $5.00 in a research report on Wednesday, March 2nd. Finally, Cantor Fitzgerald lowered shares of Ardelyx from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $7.00 to $1.00 in a report on Friday, May 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Ardelyx currently has an average rating of “Hold” and an average target price of $4.71.

NASDAQ:ARDX traded down $0.02 during trading hours on Friday, hitting $0.65. 1,435,639 shares of the company’s stock traded hands, compared to its average volume of 4,586,791. The firm has a market cap of $94.45 million, a P/E ratio of -0.47 and a beta of 1.84. Ardelyx has a twelve month low of $0.58 and a twelve month high of $2.15. The stock’s fifty day moving average price is $0.90 and its two-hundred day moving average price is $0.96.

Several large investors have recently bought and sold shares of ARDX. Allspring Global Investments Holdings LLC purchased a new stake in Ardelyx in the 4th quarter valued at about $26,000. Squarepoint Ops LLC acquired a new position in Ardelyx in the third quarter valued at approximately $29,000. Centiva Capital LP acquired a new position in Ardelyx in the third quarter valued at approximately $38,000. Barclays PLC boosted its holdings in shares of Ardelyx by 213.2% in the third quarter. Barclays PLC now owns 37,217 shares of the biopharmaceutical company’s stock valued at $49,000 after acquiring an additional 25,333 shares during the period. Finally, Mirabella Financial Services LLP acquired a new stake in shares of Ardelyx during the first quarter worth $51,000. 32.35% of the stock is owned by hedge funds and other institutional investors.

Ardelyx Company Profile (Get Rating)

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, which has completed Phase III clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase III clinical trial to control serum phosphorus in adult patients with chronic kidney disease (CKD)on dialysis, or hyperphosphatemia.

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