Q3 2021 Earnings Forecast for Ardelyx, Inc. Issued By Wedbush (NASDAQ:ARDX)

Ardelyx, Inc. (NASDAQ:ARDX) – Wedbush increased their Q3 2021 earnings per share (EPS) estimates for shares of Ardelyx in a report issued on Tuesday, July 20th. Wedbush analyst L. Chico now expects that the biopharmaceutical company will post earnings of ($0.24) per share for the quarter, up from their previous estimate of ($0.30). Wedbush has a “Neutral” rating and a $3.00 price target on the stock. Wedbush also issued estimates for Ardelyx’s Q4 2021 earnings at ($0.18) EPS, FY2021 earnings at ($1.11) EPS, Q1 2022 earnings at ($0.19) EPS, Q2 2022 earnings at ($0.18) EPS, Q3 2022 earnings at ($0.19) EPS, Q4 2022 earnings at ($0.21) EPS, FY2022 earnings at ($0.76) EPS, FY2023 earnings at ($0.79) EPS, FY2024 earnings at ($0.74) EPS and FY2025 earnings at ($0.93) EPS.

A number of other research analysts have also recently issued reports on ARDX. Citigroup decreased their target price on Ardelyx from $16.00 to $7.00 and set a “buy” rating on the stock in a research report on Wednesday. Piper Sandler cut Ardelyx from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $14.00 to $4.00 in a research report on Tuesday. Cowen set a $7.70 target price on Ardelyx and gave the company a “buy” rating in a research report on Tuesday. Jefferies Financial Group cut Ardelyx from a “buy” rating to a “hold” rating and decreased their target price for the company from $11.00 to $2.00 in a research report on Wednesday. Finally, Zacks Investment Research upgraded Ardelyx from a “sell” rating to a “hold” rating in a research report on Monday, May 24th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $8.34.

Ardelyx stock opened at $1.93 on Thursday. Ardelyx has a 12-month low of $1.81 and a 12-month high of $9.23. The company has a debt-to-equity ratio of 0.26, a quick ratio of 4.91 and a current ratio of 4.91. The company has a 50-day simple moving average of $7.15. The company has a market capitalization of $190.02 million, a PE ratio of -1.69 and a beta of 1.95.

Ardelyx (NASDAQ:ARDX) last posted its quarterly earnings results on Wednesday, May 5th. The biopharmaceutical company reported ($0.34) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.01). The company had revenue of $6.58 million during the quarter, compared to analyst estimates of $1.10 million. Ardelyx had a negative net margin of 812.17% and a negative return on equity of 78.63%.

Large investors have recently added to or reduced their stakes in the company. Pekin Hardy Strauss Inc. grew its holdings in shares of Ardelyx by 3.8% during the first quarter. Pekin Hardy Strauss Inc. now owns 1,636,730 shares of the biopharmaceutical company’s stock worth $10,835,000 after purchasing an additional 59,426 shares during the last quarter. Letko Brosseau & Associates Inc. bought a new stake in shares of Ardelyx during the first quarter worth about $1,141,000. Los Angeles Capital Management LLC grew its holdings in shares of Ardelyx by 8.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 45,404 shares of the biopharmaceutical company’s stock worth $294,000 after purchasing an additional 3,610 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Ardelyx by 1.0% during the first quarter. BlackRock Inc. now owns 5,982,776 shares of the biopharmaceutical company’s stock worth $39,606,000 after purchasing an additional 60,320 shares during the last quarter. Finally, Rafferty Asset Management LLC grew its holdings in shares of Ardelyx by 911.1% during the first quarter. Rafferty Asset Management LLC now owns 166,592 shares of the biopharmaceutical company’s stock worth $1,103,000 after purchasing an additional 150,116 shares during the last quarter. Institutional investors own 85.74% of the company’s stock.

About Ardelyx

Ardelyx, Inc, a biopharmaceutical company, develops and sells medicines for the treatment of kidney and 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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Earnings History and Estimates for Ardelyx (NASDAQ:ARDX)

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