In yesterday’s Wall Street session, Ardelyx Inc (NASDAQ:ARDX) shares traded at $7.30, down -1.48% from the previous session.
ARDX stock price is now -16.51% away from the 50-day moving average and 33.40% away from the 200-day moving average. The market capitalization of the company currently stands at $1.70B.
With the price target of $12, Raymond James recently initiated with Strong Buy rating for Ardelyx Inc (NASDAQ: ARDX). On September 07, 2023, H.C. Wainwright recently initiated its ‘Buy’ rating on the stock quoting a target price of $9, while ‘Cantor Fitzgerald’ rates the stock as ‘Overweight’
In other news, GRAMMER ELIZABETH A, insider sold 86,000 shares of the company’s stock on Mar 20 ’24. The stock was sold for $664,978 at an average price of $7.73. Upon completion of the transaction, the insider now directly owns 312,993 shares in the company, valued at $2.28 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 26 ’24, Chief Development Officer Rosenbaum David P. sold 5,183 shares of the business’s stock. A total of $47,684 was realized by selling the stock at an average price of $9.20. This leaves the insider owning 175,936 shares of the company worth $1.28 million. A total of 3.80% of the company’s stock is owned by insiders.
During the past 12 months, Ardelyx Inc has had a low of $3.16 and a high of $10.13. As of last week, the company has a debt-to-equity ratio of 0.34, a current ratio of 4.88, and a quick ratio of 4.64. The fifty day moving average price for ARDX is $8.72 and a two-hundred day moving average price translates $5.49 for the stock.
The latest earnings results from Ardelyx Inc (NASDAQ: ARDX) was released for Dec, 2023. According to the Biotechnology Company, earnings per share came in at -$0.12, missing analysts’ expectations of -$0.09 by -0.03. This compares to $0.11 EPS in the same period last year. The net profit margin was -53.08% and return on equity was -49.83% for ARDX. The company reported revenue of $34.36 million for the quarter, compared to $44.18 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -22.22 percent. For the current quarter, analysts expect ARDX to generate $36.71M in revenue.
