Ardelyx (NASDAQ:ARDX) Stock Price Down 10.4% on Disappointing Earnings

Ardelyx, Inc. (NASDAQ:ARDX)’s share price fell 10.4% on Friday following a weaker than expected earnings announcement. The stock traded as low as $5.90 and last traded at $6.0380. 1,633,732 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 5,216,605 shares. The stock had previously closed at $6.74.

The biopharmaceutical company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.03). Ardelyx had a negative return on equity of 36.91% and a negative net margin of 14.20%.The firm had revenue of $125.22 million for the quarter, compared to the consensus estimate of $118.04 million. During the same period last year, the company posted $0.02 EPS. The business’s revenue was up 7.8% on a year-over-year basis.

Key Headlines Impacting Ardelyx

Here are the key news stories impacting Ardelyx this week:

• Positive Sentiment: BTIG reaffirmed a “buy” rating and set a $17 price target (~152% above the recent open), which supports upside expectations from the sell-side and can attract buyers. Benzinga
• Positive Sentiment: Ardelyx reported strong commercial revenue trends: IBSRELA revenue grew 73% in 2025 and total 2025 revenues reached $407.3M; management said the company is well-capitalized and advancing development programs, which supports medium-term growth expectations. GlobeNewswire
• Neutral Sentiment: Investors can review the full Q4 2025 earnings call transcript for management detail on commercial execution, guidance and pipeline plans. This is informational for positioning but not an immediate catalyst by itself. Earnings Call Transcript
• Neutral Sentiment: Zacks published analysis comparing key metrics and noted revenue beat but mixed EPS results — useful context for analysts and traders assessing whether the quarter changes consensus expectations. Zacks: Key Metrics
• Negative Sentiment: Ardelyx missed consensus EPS (reported -$0.01 vs. $0.02 expected) and reported negative margins/ROE, which pressured near-term profitability narratives and may weigh on valuation multiple near-term. MarketBeat Earnings
• Negative Sentiment: Zacks also highlighted the quarter as essentially break-even on EPS versus expectations, underscoring the mixed earnings reception that can drive short-term selling pressure. Zacks: Break-Even EPS
• Neutral Sentiment: Short-interest reports in the feeds show anomalous “0 shares / NaN” data for February and are unreliable; do not treat them as a meaningful short-squeeze signal without confirmation from the exchange. (Data in the newsfeed).

Wall Street Analyst Weigh In

ARDX has been the subject of several recent analyst reports. TD Cowen reiterated a “buy” rating on shares of Ardelyx in a research note on Thursday, January 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ardelyx in a research note on Wednesday, January 21st. Raymond James Financial reiterated a “strong-buy” rating and issued a $19.00 price objective on shares of Ardelyx in a research report on Thursday, January 8th. HC Wainwright lifted their price objective on shares of Ardelyx from $10.00 to $18.00 and gave the stock a “buy” rating in a report on Friday. Finally, Piper Sandler upgraded shares of Ardelyx from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $10.00 to $16.00 in a report on Thursday, January 8th. Two research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Ardelyx has an average rating of “Buy” and a consensus target price of $15.09.

Insider Activity at Ardelyx

In related news, insider Laura A. Williams sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $6.98, for a total value of $349,000.00. Following the completion of the transaction, the insider directly owned 361,563 shares in the company, valued at $2,523,709.74. The trade was a 12.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Ardelyx by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 159,061 shares of the biopharmaceutical company’s stock valued at $781,000 after buying an additional 4,436 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Ardelyx by 10.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,378,738 shares of the biopharmaceutical company’s stock worth $11,680,000 after purchasing an additional 221,486 shares during the last quarter. Focus Partners Wealth purchased a new stake in Ardelyx during the 1st quarter valued at $72,000. Strs Ohio bought a new position in shares of Ardelyx during the 1st quarter valued at $135,000. Finally, Brighton Jones LLC purchased a new position in shares of Ardelyx in the 2nd quarter worth $40,000. Hedge funds and other institutional investors own 58.92% of the company’s stock.

Ardelyx Stock Down 11.8%

The company has a market cap of $1.44 billion, a P/E ratio of -26.12 and a beta of 0.57. The company has a quick ratio of 4.11, a current ratio of 4.41 and a debt-to-equity ratio of 1.31. The company has a fifty day moving average of $6.78 and a 200 day moving average of $6.10.

About Ardelyx

Ardelyx, Inc (NASDAQ: ARDX) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing targeted small molecule drugs for cardio‐renal and gastrointestinal diseases. The company’s lead marketed product, tenapanor (sold under the brand name XPHOZAH in the United States), is approved for the treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis. Ardelyx’s proprietary approach targets epithelial transporters in the gastrointestinal tract, offering localized activity with limited systemic exposure.

Beyond tenapanor, Ardelyx’s development pipeline includes treatments designed to address other complications in kidney disease and related metabolic disorders.