Ardelyx Inc (ARDX) – it’s time to buy. Check out key Indicators

In yesterday’s Wall Street session, Ardelyx Inc (NASDAQ:ARDX) shares traded at $4.33, up 7.44% from the previous session.

As of this writing, 8 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 $12.00 and a low of $6.00, we find $9.75. Given the previous closing price of $4.03, this indicates a potential upside of 141.94 percent. ARDX stock price is now 10.30% away from the 50-day moving average and 11.73% away from the 200-day moving average. The market capitalization of the company currently stands at $1.01B.

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There are 0 analysts who have given it a hold rating, whereas 8 have given it a buy rating. Brokers who have rated the stock have averaged $9.58 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, Williams Laura A, Chief Medical Officer sold 25,000 shares of the company’s stock on Nov 15. The stock was sold for $99,998 at an average price of $4.00. Upon completion of the transaction, the Chief Medical Officer now directly owns 266,839 shares in the company, valued at $1.16 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 10, Chief Development Officer Rosenbaum David P. sold 1,644 shares of the business’s stock. A total of $6,576 was realized by selling the stock at an average price of $4.00. This leaves the insider owning 365,378 shares of the company worth $1.58 million. Insiders disposed of 184,249 shares of company stock worth roughly $0.8 million over the past 1 year. A total of 4.08% of the company’s stock is owned by insiders.

Friday morning saw Ardelyx Inc (NASDAQ: ARDX) opened at $4.0300. During the past 12 months, Ardelyx Inc has had a low of $1.56 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 $3.9205 and a two-hundred day moving average price translates $3.8819 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 $31.39M 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.

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