Stocks of Ardelyx Inc (NASDAQ:ARDX) traded higher last session on Wall Street, down -2.76% to $3.87.
According to the data, Ardelyx Inc (NASDAQ:ARDX) has 8 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $12.00 and a low of $6.00, we find $10.00. Given the previous closing price of $3.98, this indicates a potential upside of 151.26 percent. ARDX stock price is now -2.10% away from the 50-day moving average and 0.11% away from the 200-day moving average. The market capitalization of the company currently stands at $898.38M.
A total of 0 analysts have issued a hold rating and 8 have given it a buy rating. Brokers who have rated the stock have averaged $9.64 as their price target over the next twelve months.
With the price target of $9, H.C. Wainwright recently initiated with Buy rating for Ardelyx Inc (NASDAQ: ARDX).
In other news, Rosenbaum David P., Chief Development Officer sold 1,644 shares of the company’s stock on Oct 10. The stock was sold for $6,576 at an average price of $4.00. Upon completion of the transaction, the Chief Development Officer now directly owns 365,378 shares in the company, valued at $1.41 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 08, Chief Development Officer Rosenbaum David P. sold 2,897 shares of the business’s stock. A total of $13,181 was realized by selling the stock at an average price of $4.55. This leaves the insider owning 367,022 shares of the company worth $1.42 million. Insiders disposed of 184,249 shares of company stock worth roughly $0.71 million over the past 1 year. A total of 3.67% of the company’s stock is owned by insiders.
Wednesday’s opening bell rang with an opening price of $3.9500 for Ardelyx Inc (NASDAQ: ARDX). During the past 12 months, Ardelyx Inc has had a low of $1.16 and a high of $5.12. As of last week, the company has a debt-to-equity ratio of 0.18, a current ratio of 5.54, and a quick ratio of 5.35. The fifty day moving average price for ARDX is $3.9531 and a two-hundred day moving average price translates $3.8658 for the stock.
The latest earnings results from Ardelyx Inc (NASDAQ: ARDX) was released for Sep, 2023. According to the Biotechnology Company, earnings per share came in at $0.03, beating analysts’ expectations of -$0.11 by 0.14. This compares to -$0.14 EPS in the same period last year. The net profit margin was -19.79% and return on equity was -20.60% for ARDX. The company reported revenue of $56.39 million for the quarter, compared to $4.99 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 1030.99 percent. For the current quarter, analysts expect ARDX to generate $32.09M 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.