Ardelyx (NASDAQ:ARDX) Announces Earnings Results, Misses Expectations By $0.03 EPS

Ardelyx (NASDAQ:ARDX) issued its earnings results on Thursday. The biopharmaceutical company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.03), FiscalAI reports. Ardelyx had a negative return on equity of 36.91% and a negative net margin of 14.20%.The firm had revenue of $125.22 million during the quarter, compared to analysts’ expectations of $118.04 million.

Ardelyx Trading Up 0.3%

NASDAQ:ARDX traded up $0.02 during trading hours on Thursday, hitting $6.74. The company had a trading volume of 6,767,946 shares, compared to its average volume of 5,353,546. The company has a debt-to-equity ratio of 1.31, a current ratio of 4.41 and a quick ratio of 4.11. The stock has a 50-day moving average price of $6.76 and a 200 day moving average price of $6.09. The company has a market capitalization of $1.64 billion, a PE ratio of -29.30 and a beta of 0.57. Ardelyx has a 52 week low of $3.21 and a 52 week high of $8.40.

Insider Activity at Ardelyx

In related news, CEO Michael Raab sold 46,887 shares of the business’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $5.54, for a total transaction of $259,753.98. Following the transaction, the chief executive officer owned 1,455,363 shares in the company, valued at $8,062,711.02. The trade was a 3.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Elizabeth A. Grammer sold 5,995 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $5.54, for a total transaction of $33,212.30. Following the completion of the transaction, the insider directly owned 299,895 shares of the company’s stock, valued at approximately $1,661,418.30. The trade was a 1.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 114,868 shares of company stock valued at $708,369. 4.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. State of Wyoming purchased a new stake in Ardelyx in the fourth quarter worth $74,000. WINTON GROUP Ltd bought a new position in shares of Ardelyx in the 4th quarter worth about $79,000. Jain Global LLC purchased a new position in Ardelyx during the 3rd quarter valued at about $74,000. Sargent Investment Group LLC purchased a new stake in Ardelyx in the fourth quarter worth about $82,000. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of Ardelyx by 81.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 14,021 shares of the biopharmaceutical company’s stock valued at $82,000 after purchasing an additional 6,293 shares in the last quarter. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ardelyx in a research note on Wednesday, January 21st. BTIG Research reissued a “buy” rating and issued a $17.00 target price on shares of Ardelyx in a research note on Thursday, January 29th. Wedbush lifted their price target on Ardelyx from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 21st. Raymond James Financial reissued a “strong-buy” rating and set a $19.00 price objective on shares of Ardelyx in a research note on Thursday, January 8th. Finally, TD Cowen reiterated a “buy” rating on shares of Ardelyx in a report on Thursday, January 29th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Ardelyx has an average rating of “Buy” and a consensus target price of $14.36.

About Ardelyx

Ardelyx, Inc (NASDAQ: ARDX) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing targeted small molecule drugs for cardio‐renal and gastrointestinal diseases. The company’s lead marketed product, tenapanor (sold under the brand name XPHOZAH in the United States), is approved for the treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis. Ardelyx’s proprietary approach targets epithelial transporters in the gastrointestinal tract, offering localized activity with limited systemic exposure.

Beyond tenapanor, Ardelyx’s development pipeline includes treatments designed to address other complications in kidney disease and related metabolic disorders.