In its upcoming report, Ardelyx (ARDX) is predicted by Wall Street analysts to post quarterly earnings of $0.02 per share, reflecting no change compared to the same period last year. Revenues are forecasted to be $117.57 million, representing a year-over-year increase of 1.2%.
Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 50% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.
Before a company reveals its earnings, it is vital to take into account any changes in earnings projections. These revisions play a pivotal role in predicting the possible reactions of investors toward the stock. Multiple empirical studies have consistently shown a strong association between trends in earnings estimates and the short-term price movements of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
In light of this perspective, let's dive into the average estimates of certain Ardelyx metrics that are commonly tracked and forecasted by Wall Street analysts.
Analysts predict that the 'Revenues- Product sales, net' will reach $114.14 million. The estimate indicates a change of +2.8% from the prior-year quarter.
The combined assessment of analysts suggests that 'Product sales- IBSRELA' will likely reach $85.75 million. The estimate indicates a change of +59.3% from the prior-year quarter.
It is projected by analysts that the 'Product sales- XPHOZAH' will reach $28.39 million. The estimate indicates a change of -50.3% from the prior-year quarter.
View all Key Company Metrics for Ardelyx here>>>
Shares of Ardelyx have experienced a change of +1.8% in the past month compared to the -1.4% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), ARDX is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Ardelyx, Inc. (ARDX): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
