Ardelyx (NASDAQ:ARDX - Get Free Report) released its quarterly earnings results on Thursday. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.02), FiscalAI reports. Ardelyx had a negative return on equity of 38.11% and a negative net margin of 13.58%.The firm had revenue of $120.88 million during the quarter, compared to the consensus estimate of $121.03 million. During the same period in the previous year, the company posted ($0.08) EPS. The company's revenue for the quarter was up 34.3% compared to the same quarter last year.

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Here are the key takeaways from Ardelyx's conference call:

• Q2 product revenue reached a record $118 million, up 31% year over year, with IBSRELA revenue increasing 33% to $86.2 million and XPHOZAH revenue rising 27% to $31.9 million.
• IBSRELA faced more stringent payer prior authorizations and step edits, slowing new-patient starts despite record demand, refills, and total prescriptions. The company lowered 2026 IBSRELA revenue guidance to $350 million-$370 million.
• Ardelyx reiterated XPHOZAH 2026 revenue guidance of $110 million-$120 million but withdrew its longer-term $750 million revenue target while it assesses post-TDAPA market dynamics and upcoming dialysis payment policies.
• Management is expanding field reimbursement and commercial support for IBSRELA, including doubling reimbursement staff, increasing the sales force to 144 representatives, and further promoting the IBSRELA Pharmacy Network to improve fulfillment and adherence.
• The company ended the quarter with $281.8 million in cash, revised 2026 operating-expense guidance to below $500 million, and maintained its expectation of achieving profitability in 2027 while advancing its pipeline and tenapanor patent estate.

Ardelyx Trading Down 0.8%

Ardelyx stock traded down $0.04 during mid-day trading on Thursday, reaching $4.87. 6,837,501 shares of the company traded hands, compared to its average volume of 2,539,564. The company has a debt-to-equity ratio of 1.37, a current ratio of 3.49 and a quick ratio of 3.28. Ardelyx has a 52-week low of $4.71 and a 52-week high of $8.40. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -21.17 and a beta of 0.70. The firm's 50 day moving average price is $5.41 and its 200 day moving average price is $6.09.

Insider Activity

• Is Ardelyx is A Buy After Slip in Early 2022

In other Ardelyx news, insider Mike Kelliher sold 7,248 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $6.27, for a total transaction of $45,444.96. Following the transaction, the insider owned 357,418 shares in the company, valued at approximately $2,241,010.86. This represents a 1.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Duane Foster sold 7,998 shares of Ardelyx stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $6.27, for a total value of $50,147.46. Following the sale, the insider owned 417,972 shares in the company, valued at $2,620,684.44. This represents a 1.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 24,572 shares of company stock worth $154,066 in the last quarter. 5.30% of the stock is owned by corporate insiders.

Institutional Trading of Ardelyx

A number of hedge funds have recently modified their holdings of ARDX. Abel Hall LLC bought a new position in Ardelyx during the 4th quarter valued at approximately $92,000. Sargent Investment Group LLC purchased a new stake in shares of Ardelyx in the fourth quarter worth $82,000. Cibc World Markets Corp bought a new position in shares of Ardelyx during the fourth quarter valued at $92,000. Steward Partners Investment Advisory LLC raised its position in shares of Ardelyx by 81.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 14,021 shares of the biopharmaceutical company's stock worth $82,000 after purchasing an additional 6,293 shares during the last quarter. Finally, Integrated Wealth Concepts LLC boosted its stake in Ardelyx by 24.2% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 15,263 shares of the biopharmaceutical company's stock worth $84,000 after purchasing an additional 2,975 shares in the last quarter. Institutional investors own 58.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. LADENBURG THALM/SH SH started coverage on shares of Ardelyx in a research report on Tuesday, June 16th. They set a "buy" rating and a $16.00 target price for the company. Zacks Research downgraded Ardelyx from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 22nd. Finally, Weiss Ratings lowered Ardelyx from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $16.10.

Get Our Latest Stock Analysis on ARDX

Ardelyx Company Profile

(Get Free Report)

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.

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