Leerink Partnrs Comments on Ardelyx, Inc.’s FY2025 Earnings (NASDAQ:ARDX)

Ardelyx, Inc. (NASDAQ:ARDX) – Equities researchers at Leerink Partnrs boosted their FY2025 earnings estimates for shares of Ardelyx in a note issued to investors on Friday, May 3rd. Leerink Partnrs analyst R. Ruiz now expects that the biopharmaceutical company will post earnings per share of $0.25 for the year, up from their previous forecast of $0.20. Leerink Partnrs has a “Outperform” rating on the stock. The consensus estimate for Ardelyx’s current full-year earnings is ($0.44) per share.

Several other equities analysts have also recently weighed in on ARDX. SVB Leerink assumed coverage on Ardelyx in a report on Friday, April 5th. They set an “outperform” rating and a $14.00 price objective on the stock. Piper Sandler lifted their price target on shares of Ardelyx from $12.00 to $15.00 and gave the company an “overweight” rating in a research note on Friday, February 23rd. Citigroup increased their price objective on shares of Ardelyx from $13.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Wedbush boosted their price objective on shares of Ardelyx from $14.00 to $15.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, Raymond James increased their target price on Ardelyx from $12.00 to $15.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Ardelyx has an average rating of “Moderate Buy” and an average price target of $12.81.

Ardelyx Stock Performance

ARDX stock opened at $9.31 on Monday. Ardelyx has a 1-year low of $3.16 and a 1-year high of $10.13. The business’s 50-day moving average price is $7.66 and its two-hundred day moving average price is $6.91. The firm has a market cap of $2.18 billion, a PE ratio of -33.25 and a beta of 0.87. The company has a current ratio of 4.53, a quick ratio of 4.36 and a debt-to-equity ratio of 0.66.

Ardelyx (NASDAQ:ARDX) last announced its quarterly earnings results on Thursday, May 2nd. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.02. The company had revenue of $46.00 million during the quarter, compared to analyst estimates of $36.40 million. Ardelyx had a negative net margin of 41.36% and a negative return on equity of 41.65%. The firm’s revenue was up 303.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.13) EPS.

Insider Transactions at Ardelyx

In related news, insider David P. Rosenbaum sold 15,344 shares of Ardelyx stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $9.18, for a total value 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 document filed with the SEC, which is available through this hyperlink. 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 stock was sold at an average price of $9.18, for a total value of $140,857.92. Following the completion of the transaction, the insider now directly owns 384,002 shares in the company, valued at $3,525,138.36. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Laura A. Williams sold 39,949 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $8.35, for a total value of $333,574.15. Following the sale, the insider now owns 370,189 shares in the company, valued at approximately $3,091,078.15. The disclosure for this sale can be found here. Insiders sold a total of 218,769 shares of company stock worth $1,734,099 in the last three months. Insiders own 5.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. GSA Capital Partners LLP lifted its holdings in Ardelyx by 1,183.6% during the 3rd quarter. GSA Capital Partners LLP now owns 549,695 shares of the biopharmaceutical company’s stock valued at $2,243,000 after purchasing an additional 506,872 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of Ardelyx during the 3rd quarter worth about $320,000. Charles Schwab Investment Management Inc. grew its stake in Ardelyx by 185.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,666,267 shares of the biopharmaceutical company’s stock valued at $6,798,000 after buying an additional 1,082,554 shares during the last quarter. Vanguard Group Inc. raised its holdings in Ardelyx by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 11,565,800 shares of the biopharmaceutical company’s stock valued at $47,188,000 after acquiring an additional 97,951 shares during the period. Finally, TD Asset Management Inc lifted its position in Ardelyx by 100.0% during the third quarter. TD Asset Management Inc now owns 273,600 shares of the biopharmaceutical company’s stock worth $1,116,000 after acquiring an additional 136,800 shares during the last quarter. 58.92% of the stock is currently owned by institutional investors and hedge funds.

About Ardelyx

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.