FY2021 EPS Estimates for Ardelyx Inc Increased by Analyst (ARDX)

Ardelyx Inc (NASDAQ:ARDX) – Research analysts at Leerink Swann lifted their FY2021 EPS estimates for shares of Ardelyx in a report released on Wednesday. Leerink Swann analyst S. Fernandez now expects that the biopharmaceutical company will post earnings of $0.70 per share for the year, up from their prior forecast of $0.58. Leerink Swann has a “Outperform” rating and a $13.00 price objective on the stock. Leerink Swann also issued estimates for Ardelyx’s FY2022 earnings at $1.62 EPS.

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Several other equities research analysts also recently commented on ARDX. Ladenburg Thalmann Financial Services reduced their price objective on Ardelyx from $19.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, November 22nd. Cantor Fitzgerald reiterated a “buy” rating and issued a $12.00 price objective on shares of Ardelyx in a report on Tuesday, November 21st. Wedbush reiterated an “outperform” rating and issued a $12.00 price objective (down from $13.00) on shares of Ardelyx in a report on Tuesday, November 28th. Citigroup lifted their price objective on Ardelyx from $16.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, November 29th. Finally, BidaskClub raised Ardelyx from a “hold” rating to a “buy” rating in a research report on Wednesday, December 27th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $12.93.

Ardelyx stock traded up $0.20 during midday trading on Monday, reaching $5.55. The company had a trading volume of 391,676 shares, compared to its average volume of 298,523. Ardelyx has a 52 week low of $4.05 and a 52 week high of $14.70. The company has a market cap of $259.44, a P/E ratio of -4.12 and a beta of 0.76.

Large investors have recently made changes to their positions in the business. Parametric Portfolio Associates LLC boosted its position in Ardelyx by 8.9% in the second quarter. Parametric Portfolio Associates LLC now owns 27,581 shares of the biopharmaceutical company’s stock worth $141,000 after purchasing an additional 2,252 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Ardelyx by 18.5% in the second quarter. The Manufacturers Life Insurance Company now owns 31,252 shares of the biopharmaceutical company’s stock worth $159,000 after purchasing an additional 4,871 shares during the last quarter. Citadel Advisors LLC boosted its position in Ardelyx by 20.6% in the third quarter. Citadel Advisors LLC now owns 58,526 shares of the biopharmaceutical company’s stock worth $328,000 after purchasing an additional 9,986 shares during the last quarter. Virtus Fund Advisers LLC purchased a new position in Ardelyx in the fourth quarter worth about $386,000. Finally, TIAA CREF Investment Management LLC boosted its position in Ardelyx by 10.3% in the fourth quarter. TIAA CREF Investment Management LLC now owns 94,898 shares of the biopharmaceutical company’s stock worth $626,000 after purchasing an additional 8,869 shares during the last quarter. 74.37% of the stock is currently owned by institutional investors and hedge funds.

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Ardelyx Company Profile

Ardelyx, Inc is a clinical-stage biopharmaceutical company. The Company’s therapeutics focuses on addressing cardiorenal and gastrointestinal (GI) diseases. It operates through the research, development and commercialization of biopharmaceutical products segment. The Company’s products line includes cardiorenal portfolio and gastrointestinal portfolio.

Earnings History and Estimates for Ardelyx (NASDAQ:ARDX)

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