What is Wedbush’s Estimate for Ardelyx FY2024 Earnings?

Ardelyx, Inc. (NASDAQ:ARDX) – Equities researchers at Wedbush lowered their FY2024 EPS estimates for Ardelyx in a research note issued to investors on Thursday, January 23rd. Wedbush analyst L. Chico now forecasts that the biopharmaceutical company will earn ($0.18) per share for the year, down from their prior estimate of ($0.17). The consensus estimate for Ardelyx’s current full-year earnings is ($0.17) per share. Wedbush also issued estimates for Ardelyx’s Q4 2024 earnings at $0.01 EPS, Q1 2025 earnings at ($0.13) EPS, Q2 2025 earnings at ($0.09) EPS, Q3 2025 earnings at ($0.06) EPS, Q4 2025 earnings at ($0.03) EPS, FY2025 earnings at ($0.31) EPS, FY2026 earnings at $0.12 EPS, FY2027 earnings at $0.44 EPS, FY2028 earnings at $0.72 EPS and FY2029 earnings at $0.89 EPS.

Other equities research analysts have also recently issued research reports about the company. HC Wainwright reaffirmed a “neutral” rating and set a $5.50 target price on shares of Ardelyx in a research report on Thursday, January 16th. Jefferies Financial Group cut their target price on Ardelyx from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, January 2nd. Piper Sandler increased their target price on Ardelyx from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Monday. Finally, Citigroup reduced their price target on shares of Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.42.

Ardelyx Price Performance

Shares of ARDX opened at $5.49 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.87 and a current ratio of 4.03. The firm has a market cap of $1.30 billion, a PE ratio of -18.30 and a beta of 0.85. Ardelyx has a twelve month low of $4.32 and a twelve month high of $10.13. The firm’s 50 day moving average price is $5.20 and its 200 day moving average price is $5.65.

Insider Transactions at Ardelyx

In related news, Director David M. Mott purchased 199,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was bought at an average cost of $4.99 per share, with a total value of $993,010.00. Following the purchase, the director now directly owns 1,937,765 shares in the company, valued at $9,669,447.35. The trade was a 11.44 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael Raab sold 41,666 shares of Ardelyx stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $5.31, for a total transaction of $221,246.46. Following the transaction, the chief executive officer now directly owns 1,129,552 shares in the company, valued at approximately $5,997,921.12. This represents a 3.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 193,358 shares of company stock worth $1,041,766 over the last 90 days. 5.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Ardelyx

A number of large investors have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. acquired a new position in Ardelyx during the 4th quarter worth approximately $35,000. Bleakley Financial Group LLC bought a new stake in Ardelyx in the fourth quarter valued at approximately $98,000. Clay Northam Wealth Management LLC boosted its position in Ardelyx by 9.3% during the fourth quarter. Clay Northam Wealth Management LLC now owns 307,680 shares of the biopharmaceutical company’s stock worth $1,560,000 after purchasing an additional 26,208 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in Ardelyx by 10.9% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 50,222 shares of the biopharmaceutical company’s stock valued at $255,000 after acquiring an additional 4,942 shares during the period. Finally, Heck Capital Advisors LLC acquired a new stake in Ardelyx during the 4th quarter worth approximately $121,000. Institutional investors own 58.92% 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.