Leerink Partnrs Brokers Boost Earnings Estimates for Ardelyx

Ardelyx, Inc. (NASDAQ:ARDX) – Equities researchers at Leerink Partnrs lifted their FY2027 earnings estimates for Ardelyx in a research note issued to investors on Wednesday, December 4th. Leerink Partnrs analyst R. Ruiz now expects that the biopharmaceutical company will post earnings of $0.99 per share for the year, up from their prior estimate of $0.95. The consensus estimate for Ardelyx’s current full-year earnings is ($0.18) per share.

Several other research firms have also issued reports on ARDX. HC Wainwright lowered Ardelyx from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $11.00 to $5.50 in a research note on Monday, November 11th. Citigroup dropped their price target on Ardelyx from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Ardelyx presently has a consensus rating of “Moderate Buy” and an average target price of $10.42.

Ardelyx Stock Performance

Shares of ARDX opened at $5.46 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 4.03 and a quick ratio of 3.87. The firm has a 50-day moving average of $5.74 and a 200-day moving average of $6.00. The company has a market cap of $1.29 billion, a PE ratio of -18.33 and a beta of 0.83. Ardelyx has a one year low of $4.34 and a one year high of $10.13.

Hedge Funds Weigh In On Ardelyx

Several hedge funds and other institutional investors have recently modified their holdings of ARDX. World Equity Group Inc. grew its stake in shares of Ardelyx by 15.4% during the second quarter. World Equity Group Inc. now owns 18,402 shares of the biopharmaceutical company’s stock worth $136,000 after buying an additional 2,453 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Ardelyx by 1,026.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 3,548 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 3,233 shares in the last quarter. Aigen Investment Management LP raised its position in Ardelyx by 29.4% in the third quarter. Aigen Investment Management LP now owns 23,510 shares of the biopharmaceutical company’s stock valued at $162,000 after purchasing an additional 5,346 shares during the last quarter. Values First Advisors Inc. boosted its stake in shares of Ardelyx by 14.6% during the third quarter. Values First Advisors Inc. now owns 46,282 shares of the biopharmaceutical company’s stock valued at $319,000 after purchasing an additional 5,890 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of Ardelyx by 34.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 28,365 shares of the biopharmaceutical company’s stock worth $195,000 after purchasing an additional 7,245 shares during the last quarter. Institutional investors own 58.92% of the company’s stock.

Insider Activity

In related news, CEO Michael Raab sold 35,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $5.61, for a total value of $196,350.00. Following the transaction, the chief executive officer now owns 1,220,608 shares in the company, valued at approximately $6,847,610.88. This trade represents a 2.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Laura A. Williams sold 7,366 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $4.79, for a total transaction of $35,283.14. Following the sale, the insider now owns 308,745 shares in the company, valued at $1,478,888.55. The trade was a 2.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 252,068 shares of company stock valued at $1,472,641. 5.90% of the stock is owned by company insiders.

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.