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 Ardelyx to post earnings of ($0.05) per share for the quarter. Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Ardelyx (NASDAQ:ARDX) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.07) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.04. Ardelyx had a negative net margin of 31.02% and a negative return on equity of 39.73%. The company had revenue of $73.20 million for the quarter, compared to the consensus estimate of $55.03 million. During the same period in the previous year, the firm earned ($0.08) earnings per share. Ardelyx’s quarterly revenue was up 228.3% compared to the same quarter last year. 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

Ardelyx stock opened at $5.90 on Tuesday. The firm has a 50 day simple moving average of $6.09 and a 200-day simple moving average of $6.34. Ardelyx has a 1-year low of $3.43 and a 1-year high of $10.13. The company has a debt-to-equity ratio of 0.68, a current ratio of 4.21 and a quick ratio of 3.99. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of -21.07 and a beta of 0.90.

Insiders Place Their Bets

In other news, CEO Michael Raab sold 7,500 shares of the stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $6.01, for a total value of $45,075.00. Following the completion of the sale, the chief executive officer now directly owns 1,210,108 shares of the company’s stock, valued at approximately $7,272,749.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Justin A. Renz sold 5,289 shares of the stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $5.86, for a total transaction of $30,993.54. Following the completion of the transaction, the chief financial officer now directly owns 295,257 shares of the company’s stock, valued at $1,730,206.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael Raab sold 7,500 shares of Ardelyx stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $6.01, for a total value of $45,075.00. Following the completion of the sale, the chief executive officer now directly owns 1,210,108 shares in the company, valued at $7,272,749.08. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 187,126 shares of company stock valued at $1,151,213 over the last quarter. Company insiders own 5.50% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.