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

Ardelyx

02/05/2024 22:55

* Ardelyx Inc  ARDX.OQ  reported a quarterly adjusted loss
of 11
cents​​ per share for the quarter ended in March, higher than
the same quarter last year, when the company reported EPS of -13
cents.  The mean expectation of ten analysts for the quarter was
for a loss of 15 cents per share. Wall Street expected
results to range from -25 cents to -12 cents per share.
    * Revenue rose 304.8% to $46.02 million from a year ago;
analysts
expected $36.40 million. 
    * Ardelyx Inc's reported EPS for the quarter was a loss
of 11
cents​.
    * The company reported a quarterly loss of $26.52 million.
    * Ardelyx Inc shares had fallen by 9.5% this quarter and
gained 6.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 38.7%
in the last three months.​ 
    * In the last 30 days, three analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is
"strong buy"
and the breakdown of recommendations is 10 "strong buy" or
"buy," no "hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the biotechnology
&
medical research peer group is also "strong buy"

Wall Street's median 12-month price target for Ardelyx Inc is
$13.50 
This summary was machine generated from LSEG data May 2 at 09:54
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
 Mar. 31 2024      -0.15          -0.11          Beat
 Dec. 31 2023      -0.09          -0.12          Missed
 Sep. 30 2023      -0.11          0.03           Beat
 Jun. 30 2023      -0.11          -0.08          Beat