WALTHAM, Mass. (AP) — WALTHAM, Mass. (AP) — Ardelyx Inc. (ARDX) on Thursday reported a third-quarter loss of $809,000, after reporting a profit in the same period a year earlier.
On a per-share basis, the Waltham, Massachusetts-based company said it had a loss of less than 1 cent.
The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.
The biotechnology company posted revenue of $98.2 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $86.3 million.
Ardelyx shares have dropped slightly more than 5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $5.87, an increase of 49% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARDX at https://www.zacks.com/ap/ARDX
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.