Ardelyx Inc reports results for the quarter ended in June - Earnings Summary

Ardelyx

01/08/2024 22:22

* Ardelyx Inc  ARDX.OQ  reported a quarterly adjusted loss
of 7
cents​​ per share for the quarter ended in June, higher than the
same quarter last year, when the company reported EPS of -8
cents.  The mean expectation of ten analysts for the quarter was
for a loss of 11 cents per share. Wall Street expected
results to range from -14 cents to -6 cents per share.
    * Revenue rose 227.9% to $73.22 million from a year ago;
analysts
expected $55.02 million. 
    * Ardelyx Inc's reported EPS for the quarter was a loss of 7
cents​.
    * The company reported a quarterly loss of $16.45 million.
    * Ardelyx Inc shares had fallen by 25.1% this quarter and
lost 10.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 11.2%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is
"strong buy"
and the breakdown of recommendations is 9 "strong buy" or
"buy," 1 "hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the biotechnology
&
medical research peer group is  "buy."

Wall Street's median 12-month price target for Ardelyx Inc is
$11.00 
This summary was machine generated from LSEG data August 1 at
09:22 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -0.11          -0.07          Beat
 Mar. 31 2024      -0.15          -0.11          Beat
 Dec. 31 2023      -0.09          -0.12          Missed
 Sep. 30 2023      -0.11          0.03           Beat