Ardelyx (ARDX) Projected to Post Quarterly Earnings on Thursday

Ardelyx (NASDAQ:ARDX) is anticipated to post its quarterly earnings results before the market opens on Thursday, February 20th. Analysts expect Ardelyx to post earnings of $0.02 per share and revenue of $111.16 million for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Ardelyx Trading Up 10.9 %

Shares of NASDAQ ARDX opened at $6.42 on Wednesday. The firm’s 50 day moving average price is $5.25 and its 200-day moving average price is $5.63. The company has a market cap of $1.52 billion, a PE ratio of -21.40 and a beta of 0.85. Ardelyx has a 52-week low of $4.32 and a 52-week high of $9.83. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.87 and a current ratio of 4.03.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. HC Wainwright reiterated a “neutral” rating and issued a $5.50 target price on shares of Ardelyx in a research note on Thursday, January 16th. Jefferies Financial Group lowered their price objective on shares of Ardelyx from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, January 2nd. Cantor Fitzgerald upgraded shares of Ardelyx to a “strong-buy” rating in a research report on Thursday, January 30th. Citigroup lowered their price objective 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. Finally, Piper Sandler increased their price objective on shares of Ardelyx from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Monday, January 27th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $9.42.

Insiders Place Their Bets

In other Ardelyx news, Director David M. Mott purchased 199,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were acquired at an average cost of $4.99 per share, for a total transaction of $993,010.00. Following the completion of the transaction, the director now owns 1,937,765 shares of the company’s stock, valued at approximately $9,669,447.35. The trade was a 11.44 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Michael Raab sold 41,666 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $5.36, for a total transaction of $223,329.76. Following the completion of the transaction, the chief executive officer now owns 1,108,719 shares in the company, valued at $5,942,733.84. The trade was a 3.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 133,332 shares of company stock worth $710,576. Company insiders own 5.90% 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.