Ardelyx, Inc. (NASDAQ:ARDX) shares are moving Friday after the company reported its fourth-quarter financial results after the bell Thursday. Here’s a look at what to know.
What To Know:
Ardelyx reported quarterly losses of 12 cents per share, missing the analyst consensus estimate of losses of 10 cents per share by 20%.
The company reported quarterly sales of $34.36 million, beating the analyst consensus estimate of $34.23 million and representing a 22.22% decrease over sales of $44.18 million from the same period last year.
Ardelyx reported ending 2023 with $184.3 million in cash and investments and expects full-year 2024 U.S. net product sales revenue for Ibsrela to be between $140 million and $150 million.
Wedbush analyst Laura Chico reiterated Ardelyx with an Outperform rating and …
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