Cantor Fitzgerald Decreases Earnings Estimates for Ardelyx

Ardelyx, Inc. (NASDAQ:ARDX) – Analysts at Cantor Fitzgerald dropped their FY2025 earnings per share (EPS) estimates for shares of Ardelyx in a research note issued to investors on Wednesday, May 7th. Cantor Fitzgerald analyst P. Agrawal now forecasts that the biopharmaceutical company will post earnings per share of ($0.44) for the year, down from their previous forecast of ($0.13). Cantor Fitzgerald currently has a “Strong-Buy” rating on the stock. The consensus estimate for Ardelyx’s current full-year earnings is ($0.18) per share.

Several other equities analysts also recently issued reports on ARDX. HC Wainwright reiterated a “neutral” rating and issued a $5.50 price objective on shares of Ardelyx in a research report on Friday, February 21st. Scotiabank initiated coverage on shares of Ardelyx in a research report on Friday, March 7th. They set a “sector outperform” rating and a $15.00 price target on the stock. Raymond James lowered shares of Ardelyx from a “strong-buy” rating to an “outperform” rating and set a $11.00 price objective on the stock. in a report on Friday, May 2nd. Piper Sandler raised shares of Ardelyx to a “hold” rating in a research note on Wednesday, March 12th. Finally, StockNews.com lowered shares of Ardelyx from a “hold” rating to a “sell” rating in a report on Monday, May 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $10.39.

Ardelyx Stock Performance

NASDAQ:ARDX opened at $3.62 on Friday. The stock has a market capitalization of $866.10 million, a P/E ratio of -22.63 and a beta of 0.76. The company has a current ratio of 4.58, a quick ratio of 4.31 and a debt-to-equity ratio of 0.87. Ardelyx has a 1 year low of $3.50 and a 1 year high of $8.14. The firm has a 50 day moving average of $4.85 and a 200-day moving average of $5.18.

Ardelyx (NASDAQ:ARDX) last posted its earnings results on Thursday, May 1st. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.07). Ardelyx had a negative return on equity of 24.87% and a negative net margin of 11.73%. The firm had revenue of $74.11 million during the quarter, compared to the consensus estimate of $79.40 million. During the same period in the previous year, the company posted ($0.11) EPS. The firm’s revenue for the quarter was up 61.1% compared to the same quarter last year.

Institutional Trading of Ardelyx

Several hedge funds have recently added to or reduced their stakes in ARDX. Headlands Technologies LLC grew its stake in Ardelyx by 836.5% in the first quarter. Headlands Technologies LLC now owns 22,063 shares of the biopharmaceutical company’s stock valued at $108,000 after acquiring an additional 19,707 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Ardelyx by 1.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,067,528 shares of the biopharmaceutical company’s stock worth $10,152,000 after purchasing an additional 32,393 shares in the last quarter. Vanguard Group Inc. raised its holdings in Ardelyx by 4.4% during the 1st quarter. Vanguard Group Inc. now owns 14,997,234 shares of the biopharmaceutical company’s stock worth $73,636,000 after buying an additional 634,575 shares during the period. Blair William & Co. IL lifted its stake in Ardelyx by 67.6% in the first quarter. Blair William & Co. IL now owns 24,785 shares of the biopharmaceutical company’s stock valued at $122,000 after buying an additional 10,000 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Ardelyx by 6.4% in the first quarter. Mackenzie Financial Corp now owns 149,158 shares of the biopharmaceutical company’s stock valued at $732,000 after buying an additional 9,025 shares during the period. Institutional investors and hedge funds own 58.92% of the company’s stock.

Insider Buying and Selling

In other Ardelyx news, CEO Michael Raab sold 41,666 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $4.25, for a total value of $177,080.50. Following the completion of the sale, the chief executive officer now owns 1,594,754 shares of the company’s stock, valued at approximately $6,777,704.50. This represents a 2.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Laura A. Williams sold 4,941 shares of Ardelyx stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $5.62, for a total transaction of $27,768.42. Following the transaction, the insider now directly owns 303,804 shares in the company, valued at approximately $1,707,378.48. This represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 158,076 shares of company stock valued at $777,555 over the last three months. Company insiders own 5.90% of the company’s stock.

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.