Q3 2017 Earnings Forecast for Ardelyx, Inc. Issued By Leerink Swann (ARDX)
Ardelyx, Inc. (NASDAQ:ARDX) – Analysts at Leerink Swann issued their Q3 2017 EPS estimates for Ardelyx in a research note issued on Tuesday. Leerink Swann analyst S. Fernandez anticipates that the biopharmaceutical company will post earnings per share of ($0.48) for the quarter. Leerink Swann has a “Outperform” rating and a $13.00 price objective on the stock. Leerink Swann also issued estimates for Ardelyx’s Q4 2017 earnings at ($0.45) EPS, FY2017 earnings at ($2.07) EPS, FY2018 earnings at ($1.80) EPS, FY2019 earnings at ($1.59) EPS, FY2020 earnings at ($0.35) EPS and FY2021 earnings at $0.58 EPS.
Ardelyx (NASDAQ:ARDX) last released its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($0.54) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.09.
Several other research firms also recently weighed in on ARDX. BidaskClub raised Ardelyx from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Zacks Investment Research downgraded Ardelyx from a “hold” rating to a “sell” rating in a research report on Tuesday. Cantor Fitzgerald boosted their target price on Ardelyx from $12.00 to $14.00 and gave the company an “overweight” rating in a research report on Thursday, October 12th. Citigroup Inc. boosted their target price on Ardelyx from $14.00 to $19.00 and gave the company a “buy” rating in a research report on Thursday, October 12th. Finally, ValuEngine raised Ardelyx from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $16.40.
Shares of Ardelyx (NASDAQ ARDX) opened at 5.50 on Thursday. Ardelyx has a 1-year low of $4.05 and a 1-year high of $16.30. The stock’s market cap is $260.95 million. The stock’s 50 day moving average price is $5.67 and its 200-day moving average price is $6.74.
Institutional investors have recently made changes to their positions in the business. KCG Holdings Inc. bought a new position in Ardelyx in the 1st quarter valued at $127,000. Bank of America Corp DE grew its position in Ardelyx by 52.6% in the 1st quarter. Bank of America Corp DE now owns 10,612 shares of the biopharmaceutical company’s stock valued at $134,000 after acquiring an additional 3,659 shares during the last quarter. Alliancebernstein L.P. grew its position in Ardelyx by 7.9% in the 1st quarter. Alliancebernstein L.P. now owns 13,700 shares of the biopharmaceutical company’s stock valued at $173,000 after acquiring an additional 1,000 shares during the last quarter. American International Group Inc. grew its position in Ardelyx by 43.8% in the 1st quarter. American International Group Inc. now owns 18,926 shares of the biopharmaceutical company’s stock valued at $239,000 after acquiring an additional 5,765 shares during the last quarter. Finally, Tudor Investment Corp ET AL bought a new position in Ardelyx in the 2nd quarter valued at $111,000. 78.58% of the stock is currently owned by institutional investors.
Ardelyx Company Profile
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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