Ardelyx Inc (NASDAQ:ARDX) – Analysts at Svb Leerink increased their FY2023 EPS estimates for Ardelyx in a note issued to investors on Thursday, December 5th. Svb Leerink analyst A. Fadia now anticipates that the biopharmaceutical company will post earnings per share of $0.84 for the year, up from their prior estimate of $0.81. Svb Leerink currently has a “Outperform” rating and a $9.00 target price on the stock.
A number of other equities analysts also recently commented on ARDX. ValuEngine downgraded shares of Ardelyx from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 4th. BidaskClub cut shares of Ardelyx from a “buy” rating to a “hold” rating in a report on Saturday, November 23rd. Piper Jaffray Companies set a $15.00 price objective on shares of Ardelyx and gave the stock a “buy” rating in a research report on Thursday, October 17th. Zacks Investment Research raised shares of Ardelyx from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Leerink Swann set a $9.00 price objective on shares of Ardelyx and gave the stock a “buy” rating in a research note on Tuesday, September 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $9.25.
Ardelyx (NASDAQ:ARDX) last released its quarterly earnings results on Wednesday, November 6th. The biopharmaceutical company reported ($0.37) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.37). The company had revenue of $3.01 million during the quarter.
Hedge funds have recently added to or reduced their stakes in the stock. California State Teachers Retirement System grew its position in Ardelyx by 6.1% during the 3rd quarter. California State Teachers Retirement System now owns 73,491 shares of the biopharmaceutical company’s stock worth $345,000 after purchasing an additional 4,198 shares during the last quarter. Rhumbline Advisers raised its holdings in shares of Ardelyx by 9.0% in the third quarter. Rhumbline Advisers now owns 73,239 shares of the biopharmaceutical company’s stock worth $344,000 after buying an additional 6,022 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Ardelyx during the second quarter worth $29,000. Citadel Advisors LLC acquired a new stake in shares of Ardelyx during the second quarter worth $37,000. Finally, Northern Trust Corp grew its holdings in shares of Ardelyx by 2.8% during the second quarter. Northern Trust Corp now owns 530,420 shares of the biopharmaceutical company’s stock valued at $1,427,000 after buying an additional 14,315 shares during the last quarter. Institutional investors own 77.14% of the company’s stock.
In other news, EVP Elizabeth A. Grammer sold 5,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $7.00, for a total transaction of $35,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark Kaufmann sold 20,000 shares of the company’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $4.56, for a total transaction of $91,200.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,000 shares of company stock valued at $160,200. Company insiders own 15.31% of the company’s stock.
Ardelyx, Inc, a specialized biopharmaceutical company, develops and sells medicines for the treatment of cardio renal diseases in the United States and internationally. The company's lead product candidate is tenapanor, which has completed Phase III clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase III clinical trial for the treatment of hyperphosphatemia in end-stage renal disease patients on dialysis.
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