Ardelyx Inc reports results for the quarter ended June 30 - Earnings Summary

• Ardelyx Inc ARDX.OQ reported a quarterly adjusted loss of 8 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of -7 cents. The mean expectation of twelve analysts for the quarter was for a loss of 13 cents per share. Wall Street expected results to range from -18 cents to -8 cents per share.

• Revenue rose 33.4% to $97.66 million from a year ago; analysts expected $81.08 million.

• Ardelyx Inc's reported EPS for the quarter was a loss of 8 cents​.

• The company reported a quarterly loss of $19.08 million.

• Ardelyx Inc shares had risen by 10.5% this quarter and lost 14.6% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen 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 "buy" and the breakdown of recommendations is 11 "strong buy" or "buy," 1 "hold" and no "sell" or "strong sell." The average consensus recommendation for the biotechnology & medical research peer group is also "buy"

• Wall Street's median 12-month price target for Ardelyx Inc is $10.00, about 56.7% above its last closing price of $4.33

This summary was machine generated from LSEG data August 4 at 09:01 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)