Ardelyx Inc. (NASDAQ:ARDX) currently has a daily average trading volume of 7.49M but it saw 4239121 shares traded on Wednesday. With a market cap of 771.81M USD, stock’s current market price of $3.51 came falling about -1.68 while comparing to the previous closing price of $3.57. In past 52 weeks, the stock remained buoying in the range of price level as high as $5.12 and as low as $0.49. In the recent trading on the day, stock has struck highest price mark of $3.55 while lowest mark touched by it was $3.43.
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Taking a look at 20-day trading activity of Ardelyx Inc. (ARDX) gives us an average price of $4.20, while its current price level is -31.51% below from 52-week high level whereas it is 616.03% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $4.36 while that of 200 days or SMA-200 reads an average of $2.60. A closer look into the stock’s movement over the week reveals that its volatility is standing at 7.66% during that period while stretching the period over a month that decreases to 7.10%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 31.70 which implies that the stock is in neutral territory.
Ardelyx Inc. (ARDX)’s stock is currently under the radar of 7 analysts who are in consensus at a 12-month price target range of between $5.00 and $10.00 for company’s shares. The average price target assigned by the average number of analysts to a stock is a way to gauge worth of any stock in next 52 weeks. And in assigning price target to a stock, some analysts adopt a bearish approach by advocating lower-than-average price target which in this case is $5.00 while some adopt bullish approach by assigning higher-than-average price target which reads the price to top $10.00. Average price target assigned by them is $7.08 which highlights an upside potential of 50.42% for the stock over that period. And to attain the median price target of $7.00 assigned by those analysts, stock has to add about 49.86% of value to its current levels.
Data by FactSet Research shows that 7 analysts have issued their ratings for the stock. 0 of them are in opinions that stock is a Sell, while 0 are advising it as an Overweight. 6 analysts suggested the investors to Buy the stock while 1 advised them to Hold. Recommendations by all of those brokerages imply a consensus rating of Buy for the stock and that issued by Wall Street to investors is Strong Buy.
Over the week, ARDX’s stock price is moving -10.69% down while it is -23.86% when we observe its performance for the past one month. Year-to-date it is 23.16% up and over the past year, the stock is showing an upside performance of 437.35%.
The latest quarterly earnings report issued by the company was for quarter ended 3/30/2023, when its quarterly earnings per share (EPS) of -$0.13 beaten by the consensus estimate of -$0.1 for the same. The company is expected to be releasing its next quarterly report in 08/11/2023, for which analysts forecasted an EPS of -$0.11 while estimate for next year EPS is -$0.41. For ARDX, analysts are forecasting an EPS-growth rate of 2.40% for current year and estimate for EPS growth in next year is 102.40%. In next quarter, company is expected to be making quarterly sales of $17.26 million as analysts are expecting the sales for current fiscal year at $81.21 million and seeing the company making $184.34 million in sales next year. Moreover, analysts are in estimates of $14.42 million for current-quarter revenue.
Currently, Ardelyx Inc.’s total number of outstanding shares is 207.02M with 1.50% of that held by the insiders while 41.01% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at -51.00% and return on equity (ROE) at -76.70%. It has a 250.71 of forward P/E ratio. Stock’s beta reads 1.21. Stock has a price to book (P/B) ratio of 5.75 while price to sale or P/S ratio amounts to 12.23. Its return on asset (ROA) is -38.60% on average.
A filing at the U.S. Securities and Exchange Commission revealed that SPDR S&P Biotech ETF came shrinking its share ownership by 1.78% in the Ardelyx Inc. (ARDX) increasing its stake to 6.46% with control over 0.23 million shares in the company. As per SEC documents, SPDR S&P Biotech ETF sought 13,336,110 of company’s common stock of worth $59.48 million as per recent closing price of the stock. SPDR S&P Biotech ETF is not the only institutional holder which restructured its stake in Ardelyx Inc., as Vanguard Total Stock Market ETF picked 5,614,048 shares of worth $25.04 million to bring its holdings to a total of 0.17 million shares. In the most recent quarter, Janus Henderson Capital Funds Plc came rising its stake by 2.29% in the company and now holds 3.99 million or 1.93% of the company’s stake having worth of about 17.79 million.
