Ardelyx, Inc. (NASDAQ:ARDX) â€“ Equities researchers at Jefferies Financial Group issued their FY2025 earnings estimates for shares of Ardelyx in a report issued on Monday, January 4th. Jefferies Financial Group analyst C. Howerton anticipates that the biopharmaceutical company will post earnings of $1.42 per share for the year.
Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings results on Tuesday, November 10th. The biopharmaceutical company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.08. The business had revenue of $2.71 million for the quarter, compared to the consensus estimate of $1.31 million. Ardelyx had a negative net margin of 1,063.74% and a negative return on equity of 53.93%.
Other equities analysts also recently issued research reports about the stock. Zacks Investment Research downgraded shares of Ardelyx from a â€œholdâ€ rating to a â€œsellâ€ rating in a report on Tuesday, October 6th. Cantor Fitzgerald assumed coverage on Ardelyx in a research report on Tuesday. They set an â€œoverweightâ€ rating and a $14.00 price objective for the company. BidaskClub upgraded Ardelyx from a â€œsellâ€ rating to a â€œholdâ€ rating in a research report on Thursday, November 5th. SVB Leerink lifted their price objective on Ardelyx from $11.00 to $14.00 and gave the stock an â€œoutperformâ€ rating in a research note on Friday, December 11th. Finally, ValuEngine upgraded Ardelyx from a â€œholdâ€ rating to a â€œbuyâ€ rating in a research report on Tuesday, November 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the companyâ€™s stock. Ardelyx currently has a consensus rating of â€œBuyâ€ and a consensus target price of $11.95.
NASDAQ:ARDX opened at $6.61 on Tuesday. Ardelyx has a 12-month low of $4.22 and a 12-month high of $8.81. The company has a current ratio of 11.72, a quick ratio of 11.72 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $596.54 million, a P/E ratio of -6.54 and a beta of 2.02. The stock has a 50-day moving average price of $6.42 and a 200 day moving average price of $6.03.
Hedge funds have recently modified their holdings of the stock. Morgan Stanley grew its holdings in Ardelyx by 460.7% during the first quarter. Morgan Stanley now owns 681,148 shares of the biopharmaceutical companyâ€™s stock worth $3,872,000 after acquiring an additional 559,666 shares during the period. Swiss National Bank acquired a new stake in shares of Ardelyx during the 2nd quarter worth approximately $893,000. New York State Common Retirement Fund grew its stake in shares of Ardelyx by 72.0% during the 2nd quarter. New York State Common Retirement Fund now owns 56,400 shares of the biopharmaceutical companyâ€™s stock worth $390,000 after purchasing an additional 23,600 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in shares of Ardelyx by 51.3% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 16,695 shares of the biopharmaceutical companyâ€™s stock valued at $116,000 after purchasing an additional 5,659 shares in the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of Ardelyx by 54.0% in the 2nd quarter. California Public Employees Retirement System now owns 165,218 shares of the biopharmaceutical companyâ€™s stock valued at $1,143,000 after purchasing an additional 57,929 shares during the period. 85.92% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Jeffrey W. Jacobs sold 3,949 shares of the companyâ€™s stock in a transaction dated Monday, December 21st. The shares were sold at an average price of $6.88, for a total transaction of $27,169.12. Following the transaction, the insider now directly owns 92,862 shares in the company, valued at approximately $638,890.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David M. Mott acquired 170,000 shares of Ardelyx stock in a transaction that occurred on Thursday, December 10th. The stock was purchased at an average cost of $5.89 per share, for a total transaction of $1,001,300.00. The disclosure for this purchase can be found here. Corporate insiders own 3.96% of the companyâ€™s stock.
Ardelyx Company Profile
Ardelyx, Inc, a biopharmaceutical company, develops and sells medicines for the treatment of cardiorenal diseases in the United States and internationally. The company’s lead product candidate is tenapanor, which has completed Phase 3 clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase 3 clinical trial for the treatment of hyperphosphatemia in end-stage renal disease patients on dialysis.
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