HC Wainwright Has Bearish Estimate for Ardelyx Q2 Earnings

Ardelyx, Inc. (NASDAQ:ARDX) – Stock analysts at HC Wainwright reduced their Q2 2026 earnings per share estimates for Ardelyx in a research report issued on Friday, May 1st. HC Wainwright analyst M. Caufield now anticipates that the biopharmaceutical company will post earnings per share of ($0.03) for the quarter, down from their previous estimate of ($0.02). HC Wainwright has a “Buy” rating and a $18.00 price target on the stock. HC Wainwright also issued estimates for Ardelyx’s Q3 2026 earnings at $0.05 EPS, Q4 2026 earnings at $0.10 EPS, FY2026 earnings at ($0.03) EPS, FY2027 earnings at $0.36 EPS, FY2028 earnings at $0.67 EPS and FY2029 earnings at $1.56 EPS.

Ardelyx (NASDAQ:ARDX) last released its quarterly earnings results on Thursday, April 30th. The biopharmaceutical company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02). The company had revenue of $94.47 million during the quarter, compared to analysts’ expectations of $92.78 million. Ardelyx had a negative return on equity of 38.11% and a negative net margin of 13.58%.The company’s revenue was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.17) EPS.

Several other research analysts have also issued reports on the company. BTIG Research restated a “buy” rating and set a $17.00 target price on shares of Ardelyx in a research report on Friday, February 20th. Piper Sandler upgraded Ardelyx from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $10.00 to $16.00 in a research report on Thursday, January 8th. TD Cowen restated a “buy” rating on shares of Ardelyx in a research report on Thursday, January 29th. Williams Trading set a $17.00 target price on Ardelyx in a research report on Thursday, March 12th. Finally, Leerink Partners restated an “outperform” rating on shares of Ardelyx in a research report on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Ardelyx currently has an average rating of “Moderate Buy” and a consensus target price of $15.70.

Ardelyx Trading Up 6.1%

ARDX opened at $7.30 on Tuesday. The firm has a market cap of $1.79 billion, a P/E ratio of -31.74 and a beta of 0.62. Ardelyx has a 12 month low of $3.21 and a 12 month high of $8.40. The company has a current ratio of 3.49, a quick ratio of 3.28 and a debt-to-equity ratio of 1.37. The stock has a 50-day moving average of $6.02 and a 200 day moving average of $6.16.

Hedge Funds Weigh In On Ardelyx

A number of large investors have recently bought and sold shares of the business. Principal Financial Group Inc. raised its stake in Ardelyx by 22.7% in the first quarter. Principal Financial Group Inc. now owns 17,570 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 3,253 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new position in Ardelyx in the first quarter worth $76,000. Richmond Investment Services LLC purchased a new position in Ardelyx in the first quarter worth $72,000. Leonteq Securities AG purchased a new position in Ardelyx in the first quarter worth $108,000. Finally, Strs Ohio grew its holdings in Ardelyx by 101.1% in the first quarter. Strs Ohio now owns 55,300 shares of the biopharmaceutical company’s stock worth $331,000 after purchasing an additional 27,800 shares during the last quarter. Institutional investors own 58.92% of the company’s stock.

Insider Activity

In other news, insider Mike Kelliher sold 9,595 shares of Ardelyx stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $5.85, for a total transaction of $56,130.75. Following the completion of the sale, the insider owned 364,666 shares of the company’s stock, valued at approximately $2,133,296.10. The trade was a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Joseph James Reilly sold 4,991 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $5.85, for a total transaction of $29,197.35. Following the completion of the transaction, the insider directly owned 151,790 shares of the company’s stock, valued at $887,971.50. This trade represents a 3.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 128,604 shares of company stock valued at $751,917. Insiders own 4.80% of the company’s stock.

Key Stories Impacting Ardelyx

Here are the key news stories impacting Ardelyx this week:

• Positive Sentiment: Sector momentum/presser coverage is supporting the stock intraday — a recent article notes Ardelyx “strengthens amid biotech momentum,” which can attract buyers looking for momentum plays. Ardelyx Strengthens Amid Biotech Momentum
• Neutral Sentiment: HC Wainwright kept a Buy rating and an $18 price target on ARDX despite the cuts — this provides some analyst support and suggests the firm still sees longer‑term upside even after lowering numbers. MarketBeat ARDX
• Negative Sentiment: Multiple near‑term EPS downgrades: Q2 2026 est. trimmed to ($0.03) from ($0.02); Q3 2026 to $0.05 from $0.10; Q4 2026 to $0.10 from $0.23. These lower quarterly forecasts increase short‑term earnings risk and can pressure the stock.
• Negative Sentiment: Material cuts to multi‑year outlook: FY2026 EPS cut to ($0.03) (from $0.18), FY2027 cut to $0.36 (from $0.56), FY2028 cut to $0.67 (from $1.07), and FY2029 cut to $1.56 (from $1.68). Lower medium‑term earnings profiles reduce implied valuation support and raise uncertainty about the timing of profitability.
• Negative Sentiment: Investor implication: the combination of downgrades (weakened near‑term earnings) and persistent Buy/price‑target support (longer‑term optimism) creates mixed signals — expect heightened intraday volatility and sensitivity to upcoming sales/earnings or clinical/regulatory updates.

Ardelyx Company Profile

Ardelyx, Inc (NASDAQ: ARDX) is a clinical‐stage biopharmaceutical company focused on discovering, developing and commercializing targeted small molecule drugs for cardio‐renal and gastrointestinal diseases. The company’s lead marketed product, tenapanor (sold under the brand name XPHOZAH in the United States), is approved for the treatment of hyperphosphatemia in patients with chronic kidney disease on dialysis. Ardelyx’s proprietary approach targets epithelial transporters in the gastrointestinal tract, offering localized activity with limited systemic exposure.

Beyond tenapanor, Ardelyx’s development pipeline includes treatments designed to address other complications in kidney disease and related metabolic disorders.