Ardelyx (NASDAQ:ARDX) Announces Earnings Results

Ardelyx (NASDAQ:ARDX) issued its earnings results on Thursday. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.04, Briefing.com reports. The business had revenue of $73.20 million during the quarter, compared to analyst estimates of $55.03 million. Ardelyx had a negative return on equity of 41.65% and a negative net margin of 41.36%. Ardelyx’s revenue was up 228.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.08) EPS.

Ardelyx Stock Up 10.0 %

Shares of ARDX stock opened at $6.05 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 4.53 and a quick ratio of 4.36. The stock’s fifty day moving average price is $6.11 and its 200 day moving average price is $7.41. The company has a market cap of $1.41 billion, a price-to-earnings ratio of -21.61 and a beta of 0.83. Ardelyx has a 1-year low of $3.16 and a 1-year high of $10.13.

Insider Buying and Selling at Ardelyx

In other Ardelyx news, insider Robert Ora Felsch sold 207,988 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $8.81, for a total transaction of $1,832,374.28. Following the sale, the insider now owns 95,947 shares in the company, valued at approximately $845,293.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Ardelyx news, CEO Michael Raab sold 7,500 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $6.72, for a total transaction of $50,400.00. Following the sale, the chief executive officer now owns 1,270,273 shares in the company, valued at approximately $8,536,234.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Robert Ora Felsch sold 207,988 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $8.81, for a total value of $1,832,374.28. Following the sale, the insider now owns 95,947 shares in the company, valued at approximately $845,293.07. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 494,170 shares of company stock worth $3,752,676. 5.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ARDX has been the subject of several recent research reports. SVB Leerink initiated coverage on Ardelyx in a research report on Friday, April 5th. They issued an “outperform” rating and a $14.00 price target for the company. Piper Sandler lowered Ardelyx from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $15.00 to $7.00 in a research report on Tuesday, July 2nd. HC Wainwright reissued a “buy” rating and issued a $10.00 price target on shares of Ardelyx in a research report on Thursday, July 18th. Leerink Partnrs reissued an “outperform” rating on shares of Ardelyx in a research report on Friday, April 5th. Finally, StockNews.com raised Ardelyx from a “sell” rating to a “hold” rating in a research report on Wednesday. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Ardelyx presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.94.

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.