Ardelyx, Inc. (NASDAQ:ARDX) is scheduled to post its quarterly earnings results after the market closes on Monday, November 6th. Analysts expect Ardelyx to post earnings of ($0.54) per share for the quarter.
Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.63) by $0.09. On average, analysts expect Ardelyx to post $-2 EPS for the current fiscal year and $-2 EPS for the next fiscal year.
Ardelyx, Inc. (NASDAQ:ARDX) opened at $5.80 on Friday. Ardelyx, Inc. has a 1-year low of $4.05 and a 1-year high of $16.30.
In other Ardelyx news, COO Reginald Seeto sold 10,008 shares of Ardelyx stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $5.20, for a total value of $52,041.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. 15.47% of the stock is currently owned by insiders.
An institutional investor recently raised its position in Ardelyx stock. The Manufacturers Life Insurance Company grew its position in Ardelyx, Inc. (NASDAQ:ARDX) by 18.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,252 shares of the biopharmaceutical company’s stock after purchasing an additional 4,871 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.07% of Ardelyx worth $159,000 at the end of the most recent reporting period. 78.58% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on the stock. BidaskClub raised shares of Ardelyx from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. ValuEngine lowered shares of Ardelyx from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Cantor Fitzgerald set a $12.00 price objective on shares of Ardelyx and gave the company a “buy” rating in a report on Wednesday, August 9th. Citigroup Inc. lifted their price objective on shares of Ardelyx from $14.00 to $19.00 and gave the company a “buy” rating in a report on Thursday, October 12th. Finally, Leerink Swann reissued an “outperform” rating and set a $13.00 price objective on shares of Ardelyx in a report on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $16.40.
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Ardelyx Company Profile
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.
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