Ardelyx Inc (NASDAQ:ARDX) shares traded 4.75% higher at $7.50 on Wall Street last session.
ARDX stock price is now -13.08% away from the 50-day moving average and 34.98% away from the 200-day moving average. The market capitalization of the company currently stands at $1.75B.
With the price target of $14, Leerink Partners recently initiated with Outperform rating for Ardelyx Inc (NASDAQ: ARDX). On December 18, 2023, Raymond James recently initiated its ‘Strong Buy’ rating on the stock quoting a target price of $12, while ‘H.C. Wainwright’ rates the stock as ‘Buy’
In other news, RAAB MICHAEL, President & CEO sold 1,518 shares of the company’s stock on Apr 01 ’24. The stock was sold for $11,097 at an average price of $7.31. Upon completion of the transaction, the President & CEO now directly owns 1,318,433 shares in the company, valued at $9.89 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 20 ’24, GRAMMER ELIZABETH A sold 86,000 shares of the business’s stock. A total of $664,978 was realized by selling the stock at an average price of $7.73. This leaves the insider owning 312,993 shares of the company worth $2.35 million. A total of 3.87% 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 $8.61 and a two-hundred day moving average price translates $5.57 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.
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 reduce serum phosphorus in adults 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 patients with kidney and/or heart failure; 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.
