Q2 2019 Earnings Estimate for Ardelyx Inc (ARDX) Issued By Svb Leerink

Ardelyx Inc (NASDAQ:ARDX) – Svb Leerink lowered their Q2 2019 earnings estimates for Ardelyx in a note issued to investors on Wednesday, May 8th. Svb Leerink analyst A. Fadia now forecasts that the biopharmaceutical company will post earnings per share of ($0.39) for the quarter, down from their prior estimate of ($0.38). Svb Leerink also issued estimates for Ardelyx’s Q3 2019 earnings at ($0.36) EPS, Q4 2019 earnings at ($0.32) EPS, FY2019 earnings at ($1.49) EPS, FY2020 earnings at ($0.81) EPS and FY2021 earnings at ($0.21) EPS.

Ardelyx (NASDAQ:ARDX) last posted its earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.42) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.03).

Several other equities analysts have also recently weighed in on ARDX. ValuEngine cut shares of Ardelyx from a “hold” rating to a “sell” rating in a research note on Monday. Zacks Investment Research cut shares of Ardelyx from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. Finally, Piper Jaffray Companies assumed coverage on shares of Ardelyx in a research note on Monday, April 8th. They set an “overweight” rating and a $15.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $8.81.

ARDX opened at $3.15 on Monday. The firm has a market cap of $189.05 million, a P/E ratio of -1.94 and a beta of 1.95. Ardelyx has a fifty-two week low of $1.60 and a fifty-two week high of $5.90. The company has a debt-to-equity ratio of 0.58, a current ratio of 7.41 and a quick ratio of 9.95.

A number of institutional investors and hedge funds have recently bought and sold shares of ARDX. Pekin Singer Strauss Asset Management IL grew its stake in Ardelyx by 164.3% during the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 2,639,952 shares of the biopharmaceutical company’s stock valued at $4,726,000 after acquiring an additional 1,641,037 shares in the last quarter. Deutsche Bank AG grew its stake in Ardelyx by 578.4% during the fourth quarter. Deutsche Bank AG now owns 621,879 shares of the biopharmaceutical company’s stock valued at $1,112,000 after acquiring an additional 530,206 shares in the last quarter. Renaissance Technologies LLC grew its stake in Ardelyx by 52.4% during the third quarter. Renaissance Technologies LLC now owns 1,181,000 shares of the biopharmaceutical company’s stock valued at $5,137,000 after acquiring an additional 405,860 shares in the last quarter. BlackRock Inc. grew its stake in Ardelyx by 8.4% during the third quarter. BlackRock Inc. now owns 3,880,606 shares of the biopharmaceutical company’s stock valued at $16,881,000 after acquiring an additional 302,147 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Ardelyx by 21.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,571,451 shares of the biopharmaceutical company’s stock valued at $6,836,000 after acquiring an additional 278,770 shares in the last quarter. 75.19% of the stock is owned by institutional investors.

About Ardelyx

Ardelyx, Inc, a specialized biopharmaceutical company, develops and sells medicines for the treatment of cardio renal diseases in the United States and internationally. The company's lead product candidate is tenapanor, which has completed Phase III clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase III clinical trial for the treatment of hyperphosphatemia in end-stage renal disease patients on dialysis.

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Earnings History and Estimates for Ardelyx (NASDAQ:ARDX)

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