Ardelyx, Inc. (ARDX) Expected to Post FY2016 Earnings of ($2.85) Per Share
Ardelyx, Inc. (NASDAQ:ARDX) – Analysts at Cantor Fitzgerald issued their FY2016 earnings per share (EPS) estimates for shares of Ardelyx in a note issued to investors on Tuesday. Cantor Fitzgerald analyst M. Goldstein expects that the brokerage will post earnings of ($2.85) per share for the year. Cantor Fitzgerald also issued estimates for Ardelyx’s FY2017 earnings at ($3.13) EPS.
Ardelyx (NASDAQ:ARDX) last issued its earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.65) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.74) by $0.09.
A number of other research firms have also weighed in on ARDX. Leerink Swann set a $18.00 target price on shares of Ardelyx and gave the stock a “buy” rating in a research report on Sunday, November 20th. Zacks Investment Research raised shares of Ardelyx from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Tuesday, October 11th. Finally, Wedbush reaffirmed an “outperform” rating and set a $24.00 price objective on shares of Ardelyx in a research report on Friday, January 6th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Ardelyx currently has an average rating of “Buy” and an average target price of $19.13.
Ardelyx (NASDAQ:ARDX) opened at 14.70 on Friday. The firm’s market capitalization is $695.32 million. The stock’s 50 day moving average price is $14.76 and its 200 day moving average price is $12.13. Ardelyx has a 12 month low of $6.36 and a 12 month high of $16.30.
Hedge funds and other institutional investors have recently bought and sold shares of the company. American International Group Inc. raised its position in Ardelyx by 36.8% in the second quarter. American International Group Inc. now owns 13,176 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 3,544 shares during the period. Highbridge Capital Management LLC acquired a new position in Ardelyx during the second quarter valued at about $129,000. Citadel Advisors LLC acquired a new position in Ardelyx during the third quarter valued at about $134,000. Wedbush Securities Inc. acquired a new position in Ardelyx during the third quarter valued at about $149,000. Finally, Great Point Partners LLC acquired a new position in Ardelyx during the third quarter valued at about $194,000. 81.55% of the stock is owned by hedge funds and other institutional investors.
Ardelyx Company Profile
Ardelyx, Inc is a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of minimally systemic therapeutic drugs that work in the gastrointestinal (GI) tract to treat GI and cardio-renal diseases. The Company operates through research, development and commercialization of biopharmaceutical products segment.
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