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Piper Jaffray Companies Brokers Cut Earnings Estimates for Ardelyx Inc (NASDAQ:ARDX) – TechNewsObserver


Ardelyx Inc (NASDAQ:ARDX) – Equities researchers at Piper Jaffray Companies lowered their FY2019 earnings estimates for shares of Ardelyx in a report issued on Monday, September 9th. Piper Jaffray Companies analyst C. Raymond now anticipates that the biopharmaceutical company will post earnings of ($1.62) per share for the year, down from their previous forecast of ($1.53). Piper Jaffray Companies has a “Buy” rating and a $15.00 price objective on the stock.

Separately, ValuEngine raised Ardelyx from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st.

ARDX stock opened at $5.80 on Wednesday. The stock has a market cap of $378.68 million, a P/E ratio of -3.58 and a beta of 1.71. The company has a current ratio of 7.79, a quick ratio of 7.79 and a debt-to-equity ratio of 0.77. The stock’s fifty day simple moving average is $3.20 and its two-hundred day simple moving average is $3.03. Ardelyx has a 1-year low of $1.60 and a 1-year high of $6.15.

Ardelyx (NASDAQ:ARDX) last issued its quarterly earnings results on Friday, August 9th. The biopharmaceutical company reported ($0.41) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.02). The company had revenue of $0.02 million during the quarter, compared to the consensus estimate of $0.60 million.

A number of hedge funds have recently made changes to their positions in ARDX. BNP Paribas Arbitrage SA lifted its position in shares of Ardelyx by 297.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 9,289 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 6,950 shares during the last quarter. Acadian Asset Management LLC increased its holdings in Ardelyx by 81.9% in the 1st quarter. Acadian Asset Management LLC now owns 100,564 shares of the biopharmaceutical company’s stock worth $282,000 after acquiring an additional 45,280 shares during the last quarter. SG Americas Securities LLC bought a new stake in Ardelyx in the 2nd quarter valued at about $69,000. Bank of New York Mellon Corp raised its stake in Ardelyx by 9.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 185,219 shares of the biopharmaceutical company’s stock valued at $498,000 after acquiring an additional 16,049 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Ardelyx by 6.0% during the second quarter. Renaissance Technologies LLC now owns 2,100,070 shares of the biopharmaceutical company’s stock valued at $5,649,000 after purchasing an additional 118,468 shares during the last quarter. 72.82% of the stock is currently owned by institutional investors and hedge funds.

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Ardelyx Company Profile

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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