In yesterday’s Wall Street session, Ardelyx Inc. (NASDAQ:ARDX) shares traded at $3.57, up 0.28% from the previous session.
As of this writing, 7 analysts cover Ardelyx Inc. (NASDAQ:ARDX). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $10.00 and a low of $5.00, we find $7.00. Given the previous closing price of $3.56, this indicates a potential upside of 96.63 percent. ARDX stock price is now -18.36% away from the 50-day moving average and 38.51% away from the 200-day moving average. The market capitalization of the company currently stands at $785.01M.
25-cent Stock Takes $11T Commodities Sector Digital
One brilliantly-run technology firm has successfully partnered with some of the largest players in the industry to bring a first-of-its-kind digital solution to the global commodities supply chain sector. Best of all, this upstart technology firm is currently trading undiscovered — below 25-cents per share — so very, very few investors know about it yet! For investors… it's an early-stage opportunity in a company that's bringing the US$11T global commodities sector straight into the 21st century.
All the details are in the FREE online report you can get here.
Sponsored
There are 1 analysts who have given it a hold rating, whereas 6 have given it a buy rating. Brokers who have rated the stock have averaged $7.08 as their price target over the next twelve months.
.
In other news, Rosenbaum David P., Chief Development Officer sold 3,000 shares of the company’s stock on Mar 29. The stock was sold for $13,888 at an average price of $4.63. Upon completion of the transaction, the Chief Development Officer now directly owns 113,096 shares in the company, valued at $0.4 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 21, President & CEO RAAB MICHAEL sold 13,449 shares of the business’s stock. A total of $40,360 was realized by selling the stock at an average price of $3.00. This leaves the insider owning 896,012 shares of the company worth $3.2 million. Insiders disposed of 623,413 shares of company stock worth roughly $2.23 million over the past 1 year. A total of 1.80% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ARDX stock. A new stake in Ardelyx Inc. shares was purchased by TWO SIGMA ADVISERS, LP during the first quarter worth $5,815,000. RAFFERTY ASSET MANAGEMENT, LLC invested $5,527,000 in shares of ARDX during the first quarter. In the first quarter, JUMP FINANCIAL, LLC acquired a new stake in Ardelyx Inc. valued at approximately $3,595,000. HUDSON BAY CAPITAL MANAGEMENT LP acquired a new stake in ARDX for approximately $3,482,000. BARCLAYS PLC purchased a new stake in ARDX valued at around $1,718,000 in the second quarter. In total, there are 129 active investors with 36.50% ownership of the company’s stock.
During the past 12 months, Ardelyx Inc. has had a low of $0.49 and a high of $5.12. As of last week, the company has a debt-to-equity ratio of 0.21, a current ratio of 2.60, and a quick ratio of 2.60. The fifty day moving average price for ARDX is $4.3698 and a two-hundred day moving average price translates $2.5931 for the stock.
The latest earnings results from Ardelyx Inc. (NASDAQ: ARDX) was released for Mar, 2023. According to the Biotechnology Company, earnings per share came in at -$0.13, missing analysts’ expectations of -$0.1 by -0.03. This compares to -$0.21 EPS in the same period last year. The company reported revenue of $11.37 million for the quarter, compared to $0.47 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 2329.27 percent. For the current quarter, analysts expect ARDX to generate $14.42M in revenue.
Ardelyx Inc.(ARDX) Company Profile
Ardelyx, Inc., a biopharmaceutical company, discovers, develops, and commercializes medicines to treat gastrointestinal and cardiorenal therapeutic areas in the United States and internationally. The company’s lead product candidate is tenapanor for the treatment of patients with irritable bowel syndrome with constipation. It also develops XPHOZAH, which is in Phase III clinical trial to control serum phosphorus in adult patients with chronic kidney disease (CKD)on dialysis, or hyperphosphatemia; RDX013, a potassium secretagogue, for the treatment of elevated serum potassium, or hyperkalemia, a problem among certain patients with kidney and/or heart disease; and RDX020, for adult patients with metabolic acidosis, a serious electrolyte disorder. The company has agreements with Kyowa Kirin, Fosun Pharmaceutical Industrial Development Co. Ltd., and Knight Therapeutics, Inc. for the development and commercialization of tenapanor in their respective territories. The company was formerly known as Nteryx, Inc. and changed its name to Ardelyx, Inc. in June 2008. Ardelyx, Inc. was incorporated in 2007 and is headquartered in Waltham, Massachusetts.
