Ardelyx, Inc. Forecasted to Post Q1 2018 Earnings of ($0.48) Per Share (ARDX)
Ardelyx, Inc. (NASDAQ:ARDX) – Equities research analysts at Wedbush issued their Q1 2018 earnings per share (EPS) estimates for Ardelyx in a research note issued on Wednesday. Wedbush analyst D. Nierengarten expects that the biopharmaceutical company will earn ($0.48) per share for the quarter. Wedbush also issued estimates for Ardelyx’s Q2 2018 earnings at ($0.50) EPS, Q3 2018 earnings at ($0.53) EPS and Q4 2018 earnings at ($0.48) EPS.
A number of other brokerages have also weighed in on ARDX. Citigroup Inc. reaffirmed a “buy” rating and issued a $12.00 price target (down from $17.00) on shares of Ardelyx in a research note on Monday, May 15th. Zacks Investment Research raised shares of Ardelyx from a “sell” rating to a “hold” rating in a research note on Thursday, May 11th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $12.00 price target (down from $19.00) on shares of Ardelyx in a research note on Friday, May 19th. BidaskClub raised shares of Ardelyx from a “sell” rating to a “hold” rating in a research note on Wednesday, July 12th. Finally, BTIG Research reduced their price target on shares of Ardelyx from $18.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, May 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. Ardelyx currently has a consensus rating of “Buy” and a consensus price target of $14.13.
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Shares of Ardelyx (NASDAQ ARDX) traded up 2.06% on Friday, reaching $4.95. 116,372 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $5.27 and its 200-day moving average price is $9.41. Ardelyx has a 1-year low of $4.05 and a 1-year high of $16.30. The company’s market capitalization is $234.64 million.
Ardelyx (NASDAQ:ARDX) last issued its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.09.
Hedge funds have recently modified their holdings of the company. Perceptive Advisors LLC raised its stake in shares of Ardelyx by 2.7% in the first quarter. Perceptive Advisors LLC now owns 1,886,196 shares of the biopharmaceutical company’s stock worth $23,860,000 after buying an additional 50,000 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Ardelyx by 4.0% in the first quarter. Vanguard Group Inc. now owns 1,229,557 shares of the biopharmaceutical company’s stock worth $15,554,000 after buying an additional 47,853 shares in the last quarter. Marshall Wace North America L.P. raised its stake in shares of Ardelyx by 2.1% in the second quarter. Marshall Wace North America L.P. now owns 807,246 shares of the biopharmaceutical company’s stock worth $4,036,000 after buying an additional 16,764 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new stake in shares of Ardelyx during the first quarter worth $10,276,000. Finally, State Street Corp raised its stake in shares of Ardelyx by 14.9% in the fourth quarter. State Street Corp now owns 462,228 shares of the biopharmaceutical company’s stock worth $6,565,000 after buying an additional 59,813 shares in the last quarter. 82.47% of the stock is owned by institutional investors.
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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