Ardelyx Inc. (NASDAQ:ARDX) does about 10.84M shares in volume on a normal day but saw 5644780 shares change hands in Monday trading. The company now has a market cap of 522.06M USD. Its current market price is $3.18, marking an increase of 1.27% compared to the previous close of $3.14. The 52 week high reached by this stock is $3.43 whilst the lowest price level in 52 weeks is $0.49. The script in recent trading has seen the stock touch a high of $3.27 and a low of $3.0617.
Ardelyx Inc. (ARDX) has a 20-day trading average at $2.82 and the current price is -7.29% off the 52-week high compared with 548.71% distance from its 52-week low. The 50-day simple moving average of the closing price is $2.18 and its 200-day simple moving average is $1.25. If we look at the stock’s price movements over the week, volatility stands at 11.15%, which increases to 11.58% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 62.98 to suggest the stock is neutral.
7 analysts observing the Ardelyx Inc. (ARDX) stock have set the 12-month price targets for the company’s shares at between $3.00 and $8.00. The consensus objective for the share price is $5.52, suggesting that the stock has a potential upside of 42.39% over the period. The median price target is 51.08% away from the current levels at $6.50.
FactSet Research has provided data showing that 7 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 5 analysts have rated it as a buy and 2 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Strong Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on November 17, 2022 when Piper Sandler upgraded the stock to “Overweight” and issued a price target of between $3 and $8. Cantor Fitzgerald downgraded the stock to “Neutral” from Overweight on May 06, 2022 at a price target of $7-$1. Ladenburg Thalmann upgraded its price target at $6.
The current price level is 14.91%, 48.57%, and 155.74% away from its SMA20, SMA50, and SMA200 respectively, with the ARDX price moving below the 50-day SMA on January 23. Ardelyx Inc. (ARDX) stock is up 0.63% over the week and 70.05% over the past month. Its price is 11.58% year-to-date and 253.22% over the past year.
The company’s next earnings report is expected on 05/04/2023, with forecasts estimating quarterly EPS at -$0.17 and -$0.69 for whole year. ARDX’s earnings per share are forecast to grow by 54.60% this year and 42.00% over next year. Expected sales for next quarter are $9.37 million, which analysts say will come at $17.46 million for the current fiscal year and next year at $66.23 million. In addition, estimates put the company’s current quarterly revenue at an average of $3.92 million.
Its 12-month price target is $6.50. To reach the target analysts have set, the stock logically needs to grow 42.39 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $3.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $8.00.
Outstanding shares total 187.46M with insiders holding 1.65% of the shares and institutional holders owning 35.17% of the company’s common stock. The company has a return on investment of -134.30% and return on equity of -171.20%. The beta has a value of 1.16. Price to book ratio is 7.95 and price to sales ratio is 58.01.
According to a U.S. Securities and Exchange Commission filing, Vanguard Total Stock Market Index has added its position in Ardelyx Inc. (ARDX) to 5,265,872 shares, mirroring a recent increase by 20.55%. Vanguard Total Stock Market Index added 0.9 million shares of Ardelyx Inc. common stock bringing its total worth to about $15.01 million at the end of recent close, SEC documents show. Vanguard Total Stock Market Index isn’t the only investment manager who changed stakes and is followed by Vanguard Extended Market Index Fu, which added 0.8 million shares to end up with 2,703,765 shares worth $7.71 million. Janus Henderson Horizon Fund – Bi raise their holdings by 30.02% in the company over the course of the most recent quarter. It now holds a 0.85% position in Ardelyx Inc. thanks to 1.6 million shares amounting to $4.55 million.