Ardelyx's Q1 Loss Widens; Shares Fall

MT Newswires Live

05/03

Ardelyx (ARDX) reported a Q1 diluted loss Thursday of $0.17 per share, widening from a loss of $0.11 a year earlier.

Analysts polled by FactSet expected a loss of $0.11.

Revenue for the quarter ended March 31 was $74.1 million, up from $46 million a year earlier.

Analysts surveyed by FactSet expected $78.2 million.

Meanwhile, Raymond James downgraded the stock to outperform from strong buy and slashed its price target by $2 to $11.

Ardelyx shares were down 24% in recent Friday trading.

Price: 4.16, Change: -1.31, Percent Change: -24.02

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