What is Wedbush’s Forecast for Ardelyx FY2029 Earnings?

Ardelyx, Inc. (NASDAQ:ARDX) – Stock analysts at Wedbush reduced their FY2029 earnings per share (EPS) estimates for shares of Ardelyx in a report issued on Friday, February 21st. Wedbush analyst L. Chico now forecasts that the biopharmaceutical company will earn $0.88 per share for the year, down from their prior forecast of $0.89. The consensus estimate for Ardelyx’s current full-year earnings is ($0.18) per share.

ARDX has been the topic of a number of other research reports. Jefferies Financial Group cut their price target on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, January 2nd. Cantor Fitzgerald raised Ardelyx to a “strong-buy” rating in a report on Thursday, January 30th. Raymond James reissued a “strong-buy” rating and issued a $13.00 price target (down previously from $15.00) on shares of Ardelyx in a research note on Friday, February 21st. Citigroup cut their price objective on Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $5.50 target price on shares of Ardelyx in a report on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $9.93.

Ardelyx Trading Up 1.0 %

ARDX opened at $5.18 on Monday. The company has a debt-to-equity ratio of 0.87, a current ratio of 4.58 and a quick ratio of 4.31. Ardelyx has a fifty-two week low of $4.32 and a fifty-two week high of $9.83. The company’s 50 day moving average price is $5.29 and its two-hundred day moving average price is $5.63. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -32.38 and a beta of 0.85.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, hitting the consensus estimate of $0.02. The company had revenue of $116.13 million for the quarter, compared to analysts’ expectations of $111.16 million. Ardelyx had a negative return on equity of 24.87% and a negative net margin of 11.73%.

Institutional Trading of Ardelyx

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. acquired a new stake in Ardelyx in the fourth quarter valued at approximately $25,000. Newbridge Financial Services Group Inc. bought a new position in shares of Ardelyx in the 4th quarter worth $35,000. SBI Securities Co. Ltd. acquired a new stake in Ardelyx in the 4th quarter valued at $41,000. Quarry LP bought a new stake in Ardelyx during the 4th quarter valued at $51,000. Finally, Rehmann Capital Advisory Group bought a new stake in Ardelyx during the 4th quarter valued at $51,000. 58.92% of the stock is owned by institutional investors.

Insider Buying and Selling at Ardelyx

In related news, Director David M. Mott purchased 213,300 shares of Ardelyx stock in a transaction on Thursday, December 19th. The stock was acquired at an average cost of $4.67 per share, for a total transaction of $996,111.00. Following the completion of the acquisition, the director now owns 1,638,765 shares of the company’s stock, valued at $7,653,032.55. This trade represents a 14.96 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Raab sold 25,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $5.26, for a total transaction of $131,500.00. Following the transaction, the chief executive officer now owns 1,150,385 shares in the company, valued at $6,051,025.10. This represents a 2.13 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 141,408 shares of company stock valued at $761,963. 5.90% of the stock is currently owned by company insiders.

About Ardelyx

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.