Analysts Expect Ardelyx, Inc. (ARDX) to Announce -$0.45 EPS

Wall Street brokerages expect Ardelyx, Inc. (NASDAQ:ARDX) to announce ($0.45) earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Ardelyx’s earnings, with the lowest EPS estimate coming in at ($0.46) and the highest estimate coming in at ($0.44). Ardelyx reported earnings per share of ($0.66) during the same quarter last year, which suggests a positive year over year growth rate of 31.8%. The company is scheduled to report its next quarterly earnings results on Friday, February 16th.

On average, analysts expect that Ardelyx will report full year earnings of ($2.05) per share for the current fiscal year, with EPS estimates ranging from ($2.09) to ($2.01). For the next year, analysts anticipate that the company will post earnings of ($2.11) per share, with EPS estimates ranging from ($2.95) to ($1.63). Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Ardelyx.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings data on Tuesday, November 7th. The biopharmaceutical company reported ($0.44) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.54) by $0.10. During the same period in the prior year, the firm posted ($0.65) EPS.

ARDX has been the subject of a number of research analyst reports. ValuEngine cut Ardelyx from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Ladenburg Thalmann Financial Services cut their price target on Ardelyx from $19.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday. Leerink Swann reiterated an “outperform” rating and issued a $13.00 price target on shares of Ardelyx in a research note on Tuesday, October 17th. Zacks Investment Research cut Ardelyx from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Finally, Cantor Fitzgerald set a $12.00 price target on Ardelyx and gave the company a “buy” rating in a research note on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $14.64.

COPYRIGHT VIOLATION NOTICE: “Analysts Expect Ardelyx, Inc. (ARDX) to Announce -$0.45 EPS” was originally published by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this story can be accessed at https://sportsperspectives.com/2017/11/24/analysts-expect-ardelyx-inc-ardx-to-announce-0-45-eps.html.

In other Ardelyx news, COO Reginald Seeto sold 10,008 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $5.20, for a total transaction of $52,041.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 15.47% of the company’s stock.

Large investors have recently made changes to their positions in the company. KCG Holdings Inc. acquired a new position in shares of Ardelyx during the first quarter worth $127,000. Bank of America Corp DE increased its holdings in shares of Ardelyx by 52.6% during the first quarter. Bank of America Corp DE now owns 10,612 shares of the biopharmaceutical company’s stock worth $134,000 after buying an additional 3,659 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Ardelyx by 2,039.8% during the third quarter. Sei Investments Co. now owns 13,395 shares of the biopharmaceutical company’s stock worth $750,000 after buying an additional 12,769 shares in the last quarter. Alliancebernstein L.P. increased its holdings in shares of Ardelyx by 7.9% during the first quarter. Alliancebernstein L.P. now owns 13,700 shares of the biopharmaceutical company’s stock worth $173,000 after buying an additional 1,000 shares in the last quarter. Finally, American International Group Inc. increased its holdings in shares of Ardelyx by 43.8% during the first quarter. American International Group Inc. now owns 18,926 shares of the biopharmaceutical company’s stock worth $239,000 after buying an additional 5,765 shares in the last quarter. Institutional investors own 78.82% of the company’s stock.

Shares of Ardelyx (ARDX) traded up $0.10 during trading hours on Friday, hitting $6.40. The stock had a trading volume of 513,500 shares, compared to its average volume of 504,845. Ardelyx has a 12 month low of $4.05 and a 12 month high of $16.30.

About Ardelyx

Ardelyx, Inc is a clinical-stage biopharmaceutical company. The Company’s therapeutics focuses on addressing cardiorenal and gastrointestinal (GI) diseases. It operates through the research, development and commercialization of biopharmaceutical products segment. The Company’s products line includes cardiorenal portfolio and gastrointestinal portfolio.

Get a free copy of the Zacks research report on Ardelyx (ARDX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Ardelyx (NASDAQ:ARDX)

Receive News & Ratings for Ardelyx Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ardelyx Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply