In yesterday’s Wall Street session, Ardelyx Inc (NASDAQ:ARDX) shares traded at $6.31, down -1.87% from the previous session.
ARDX stock price is now -21.08% away from the 50-day moving average and 8.95% away from the 200-day moving average. The market capitalization of the company currently stands at $1.47B.
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 7,500 shares of the company’s stock on Apr 15 ’24. The stock was sold for $52,924 at an average price of $7.06. Upon completion of the transaction, the President & CEO now directly owns 1,310,933 shares in the company, valued at $8.27 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 01 ’24, President & CEO RAAB MICHAEL sold 1,518 shares of the business’s stock. A total of $11,097 was realized by selling the stock at an average price of $7.31. This leaves the insider owning 1,318,433 shares of the company worth $8.32 million. A total of 3.86% 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.
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 $0.11 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 $35.81M in revenue.
