Ardelyx (NASDAQ:ARDX) Announces Earnings Results

Ardelyx (NASDAQ:ARDX) issued its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.02, Briefing.com reports. Ardelyx had a negative net margin of 53.08% and a negative return on equity of 43.57%. The business had revenue of $46.00 million for the quarter, compared to analysts’ expectations of $36.40 million. During the same quarter in the prior year, the company earned ($0.13) earnings per share. The business’s quarterly revenue was up 303.5% on a year-over-year basis.

Ardelyx Price Performance

Shares of NASDAQ ARDX opened at $8.72 on Friday. The stock’s 50-day simple moving average is $7.67 and its 200-day simple moving average is $6.79. The firm has a market capitalization of $2.04 billion, a PE ratio of -29.07 and a beta of 0.87. Ardelyx has a fifty-two week low of $3.16 and a fifty-two week high of $10.13. The company has a debt-to-equity ratio of 0.30, a quick ratio of 4.64 and a current ratio of 4.88.

Insider Activity at Ardelyx

In other Ardelyx news, insider David P. Rosenbaum sold 15,344 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $9.18, for a total transaction of $140,857.92. Following the sale, the insider now owns 384,002 shares of the company’s stock, valued at $3,525,138.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Michael Raab sold 30,000 shares of Ardelyx stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $6.40, for a total transaction of $192,000.00. Following the sale, the chief executive officer now owns 1,310,933 shares in the company, valued at $8,389,971.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David P. Rosenbaum sold 15,344 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $9.18, for a total value of $140,857.92. Following the completion of the sale, the insider now directly owns 384,002 shares of the company’s stock, valued at $3,525,138.36. The disclosure for this sale can be found here. Insiders sold 178,820 shares of company stock valued at $1,400,524 over the last three months. 5.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wedbush upped their target price on shares of Ardelyx from $14.00 to $15.00 and gave the stock an “outperform” rating in a research note on Friday. Leerink Partnrs reiterated an “outperform” rating on shares of Ardelyx in a research note on Friday, April 5th. Raymond James boosted their target price on Ardelyx from $12.00 to $15.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 9th. Citigroup increased their price target on Ardelyx from $13.00 to $14.00 and gave the company a “buy” rating in a research report on Friday. Finally, StockNews.com cut Ardelyx from a “hold” rating to a “sell” rating in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $12.81.

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.