Ardelyx Inc. (NASDAQ:ARDX) finished Wednesday with an addition of $0.13 to close at $4.09, an upside of 3.31 percent. An average of 4,045,637 shares of common stock have been traded in the last five days. There was a gain of $0.09 in the past week, and it reached a new high 37 times over the past 12 months. The last 20 days have seen an average of 3,685,849 shares traded, while the 50-day average volume stands at 4,653,488.
ARDX stock has increased by 17.89% in the last month. The company shares reached their 1-month lowest point of $3.37 on 07/14/23. With the stock rallying to its 52-week high on 04/17/23, shares of the company touched a low of $0.82 and a high of $5.12 in 52 weeks. It has reached a new high 16 times so far this year and achieved 43.54% or $1.24 in price. In spite of this, the price is down -20.18% from the 52-week high.
Insider Transactions
ARDX stock investors should be aware that Ardelyx Inc. (ARDX) stock had its last reported insider trading activity 44 days ago on Jun 27. In this transaction, the insider spent $83,632. Blanks Robert, disposed of 33,333 shares at a price of $3.63 on Jun 23. The insider now owns more than $121,042 worth of shares. Prior to that, President & CEO RAAB MICHAEL went on to Sale 11,357 shares at $3.65 each on May 23. An amount of $41,489 was transacted.
Valuation Metrics
Ardelyx Inc. (ARDX) stock’s beta is 1.17. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 10.83, the price-to-book (PB) ratio at 7.18.
Financial Health
The quick ratio of Ardelyx Inc. for the three months ended June 29 was 2.50, and the current ratio was 2.60, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.22 for the quarter ending June 29. Ardelyx Inc.’s EBITDA margin for the year ending June 29 is -113.42%, while its operating margin for the same period stands at -63.20%. Its gross profit as reported stood at $48.04 million compared to revenue of $52.16 million.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Ardelyx Inc.’s return on assets was -29.40%.
Earnings Surprise
For the three-month period that ended June 29, Ardelyx Inc. had $37.89 million in cash. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$26.77 million in the quarter, while revenues were shrunk -4.86%. The analyst consensus anticipated Ardelyx Inc.’s latest quarter earnings to come in at -$0.11 per share, but it turned out to be -$0.08, a 27.30% surprise. For the quarter, EBITDA amounted to -$15.98 million. Shareholders own equity worth $217.86 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Ardelyx Inc. (ARDX) price momentum. RSI 9-day as of the close on 09 August was 67.07%, suggesting the stock is Neutral, with historical volatility in this time frame at 47.67%.
As of today, ARDX’s price is $3.92 +2.13% or $0.09 from its 5-day moving average. ARDX is currently trading +18.41% higher than its 20-day SMA and +0.86% higher than its 100-day SMA. However, the stock’s current price level is +26.47% above the SMA50 and +183.68% above the SMA200.
The stochastic %K and %D were 70.29% and 60.74%, respectively, and the average true range (ATR) was 0.18. With the 14-day stochastic at 83.54% and the average true range at 0.18, the RSI (14) stands at 63.40%. The stock has reached 0.04 on the 9-day MACD Oscillator while the 14-day reading was at 0.17.
Analyst Ratings
Wedbush upgraded Ardelyx Inc. (NASDAQ: ARDX) to a an Outperform rating in its most recent analyst report. Previously, the stock was rated as a Neutral. The consensus rating for Ardelyx Inc. (ARDX) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell ARDX, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 6 others rate it as a “buy”.
What is ARDX’s price target for the next 12 months?
Analysts predict a range of price targets between $5.00 and $12.00, with a median target of $7.00. Taking a look at these predictions, the average price target given by analysts for Ardelyx Inc. (ARDX) stock is $7.58.
