Ardelyx (ARDX) to Release Quarterly Earnings on Thursday

Ardelyx (NASDAQ:ARDX) is scheduled to post its quarterly earnings results after the market closes on Thursday, October 31st. Analysts expect the company to announce earnings of ($0.05) per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.04. The firm had revenue of $73.20 million during the quarter, compared to analysts’ expectations of $55.03 million. Ardelyx had a negative return on equity of 39.73% and a negative net margin of 31.02%. The company’s quarterly revenue was up 228.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.08) EPS. On average, analysts expect Ardelyx to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Ardelyx Stock Performance

ARDX opened at $5.58 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.99 and a current ratio of 4.21. Ardelyx has a 52-week low of $3.43 and a 52-week high of $10.13. The firm has a market cap of $1.30 billion, a P/E ratio of -19.93 and a beta of 0.90. The business’s fifty day moving average is $6.09 and its 200-day moving average is $6.38.

Wall Street Analysts Forecast Growth

ARDX has been the topic of a number of analyst reports. HC Wainwright increased their price objective on shares of Ardelyx from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Wedbush reiterated an “outperform” rating and set a $11.00 price target on shares of Ardelyx in a research report on Friday, August 2nd. Citigroup lifted their price objective on shares of Ardelyx from $10.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. StockNews.com upgraded Ardelyx from a “sell” rating to a “hold” rating in a research note on Wednesday, July 31st. Finally, Piper Sandler downgraded Ardelyx from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $15.00 to $7.00 in a report on Tuesday, July 2nd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $11.67.

Insider Buying and Selling at Ardelyx

In other news, CEO Michael Raab sold 30,000 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $5.64, for a total transaction of $169,200.00. Following the completion of the transaction, the chief executive officer now directly owns 1,260,463 shares in the company, valued at approximately $7,109,011.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider David P. Rosenbaum sold 20,000 shares of Ardelyx stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $5.94, for a total transaction of $118,800.00. Following the sale, the insider now directly owns 356,479 shares in the company, valued at $2,117,485.26. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Raab sold 30,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $5.64, for a total transaction of $169,200.00. Following the completion of the transaction, the chief executive officer now owns 1,260,463 shares of the company’s stock, valued at approximately $7,109,011.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 217,126 shares of company stock worth $1,320,413 over the last quarter. Corporate insiders own 5.50% of the company’s stock.

Ardelyx Company Profile

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.