Ardelyx (NASDAQ:ARDX) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Ardelyx (NASDAQ:ARDX) announced its quarterly earnings data on Thursday. The biopharmaceutical company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.03), FiscalAI reports. The company had revenue of $94.47 million for the quarter, compared to analyst estimates of $96.36 million. Ardelyx had a negative return on equity of 40.63% and a negative net margin of 15.12%.The firm’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same period last year, the firm earned ($0.17) earnings per share.

Here are the key takeaways from Ardelyx’s conference call:

• IBSRELA delivered 58% year?over?year product revenue growth in Q1, the company reiterated 2026 guidance of $410–$430M and is targeting at least $1 billion in annual revenue by 2029.
• XPHOZAH showed continued commercial momentum with total dispenses up 32% and paid prescriptions up 19% YoY, and Ardelyx reiterated 2026 guidance of $110–$120M while emphasizing patient access programs.
• Pipeline expansion includes initiation of the EXHALE Phase III trial in CIC (all pre?identified sites active, enrollment on track for year?end, topline data expected H2 2027), ongoing pediatric studies that could extend exclusivity by six months, and IND?enabling work on next?gen NHE3 inhibitor RDX10531.
• Financial flexibility improved as Q1 total product revenue was $93.4M (38% YoY), cash and short?term investments totaled $238.1M, and a refinancing reduced cost of capital and extended loan maturities to support growth investments.
• Operating spend increased meaningfully (Q1 R&D $20.2M, SG&A $102.3M), Ardelyx expects ~ $520M total OpEx for 2026 and reported a Q1 net loss of $37.6M, reflecting continued investment pressure on near?term profitability.

Ardelyx Stock Up 5.3%

Shares of NASDAQ ARDX traded up $0.32 during mid-day trading on Thursday, reaching $6.33. 8,443,713 shares of the company’s stock were exchanged, compared to its average volume of 2,617,850. Ardelyx has a twelve month low of $3.21 and a twelve month high of $8.40. The company has a current ratio of 4.31, a quick ratio of 4.11 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -25.32 and a beta of 0.66. The business has a fifty day simple moving average of $6.02 and a 200 day simple moving average of $6.14.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ARDX. Piper Sandler upgraded Ardelyx from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $10.00 to $16.00 in a report on Thursday, January 8th. Wedbush reiterated an “outperform” rating and issued a $19.00 price target on shares of Ardelyx in a research report on Monday, February 23rd. 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. Citigroup upped their target price on shares of Ardelyx from $11.00 to $14.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Finally, Leerink Partners reiterated an “outperform” rating on shares of Ardelyx in a report on Thursday, March 12th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $15.70.

Insider Buying and Selling at Ardelyx

In related news, insider Joseph James Reilly sold 4,991 shares of the stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $5.85, for a total transaction of $29,197.35. Following the completion of the sale, the insider directly owned 151,790 shares of the company’s stock, valued at approximately $887,971.50. This represents a 3.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mike Kelliher sold 9,595 shares of Ardelyx stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $5.85, for a total transaction of $56,130.75. Following the completion of the transaction, the insider directly owned 364,666 shares in the company, valued at approximately $2,133,296.10. The trade was a 2.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 128,604 shares of company stock worth $751,917 in the last quarter. Company insiders own 4.80% of the company’s stock.

Hedge Funds Weigh In On Ardelyx

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ARDX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Ardelyx by 2.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 159,061 shares of the biopharmaceutical company’s stock valued at $781,000 after purchasing an additional 4,436 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Ardelyx by 10.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,378,738 shares of the biopharmaceutical company’s stock worth $11,680,000 after buying an additional 221,486 shares during the period. Focus Partners Wealth bought a new position in shares of Ardelyx during the first quarter worth about $72,000. Strs Ohio acquired a new stake in Ardelyx in the 1st quarter valued at approximately $135,000. Finally, Legal & General Group Plc raised its position in Ardelyx by 13.5% in the 2nd quarter. Legal & General Group Plc now owns 275,344 shares of the biopharmaceutical company’s stock valued at $1,080,000 after buying an additional 32,738 shares during the last quarter. 58.92% of the stock is owned by institutional investors and hedge funds.

Ardelyx Company Profile

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.