Ardelyx Inc. (NASDAQ:ARDX) finished Friday with an addition of $0.43 to close at $3.94, an upside of 12.25 percent. An average of 4,415,720 shares of common stock have been traded in the last five days. There was a gain of $0.33 in the past week, and it reached a new high 34 times over the past 12 months. The last 20 days have seen an average of 4,469,955 shares traded, while the 50-day average volume stands at 4,731,814.
ARDX stock has increased by 9.44% in the last month. The company shares reached their 1-month lowest point of $3.42 on 08/18/23. 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 38.25% or $1.09 in price. In spite of this, the price is down -23.12% from the 52-week high.
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Insider Transactions
ARDX stock investors should be aware that Ardelyx Inc. (ARDX) stock had its last reported insider trading activity 5 days ago on Aug 21. In this transaction, the insider spent $40,558. Chief Commercial Officer, Rodriguez Susan, disposed of 4,733 shares at a price of $3.55 on Aug 21. The insider now owns more than $16,811 worth of shares. Prior to that, Chief Financial Officer Renz Justin A went on to Sale 2,884 shares at $3.55 each on Aug 21. An amount of $10,243 was transacted.
Valuation Metrics
Ardelyx Inc. (ARDX) stock’s beta is 1.20. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 10.07, the price-to-book (PB) ratio at 6.91.
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. 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
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 25 August was 59.51%, suggesting the stock is Neutral, with historical volatility in this time frame at 82.09%.
As of today, ARDX’s price is $3.64 +9.14% or $0.33 from its 5-day moving average. ARDX is currently trading +2.07% higher than its 20-day SMA and -16.53% lower than its 100-day SMA. However, the stock’s current price level is -1.99% below the SMA50 and +166.22% above the SMA200.
The stochastic %K and %D were 40.66% and 27.67%, respectively, and the average true range (ATR) was 0.23. With the 14-day stochastic at 73.76% and the average true range at 0.22, the RSI (14) stands at 56.81%. The stock has reached 0.05 on the 9-day MACD Oscillator while the 14-day reading was at -0.06.
Analyst Ratings
Cantor Fitzgerald upgraded Ardelyx Inc. (NASDAQ: ARDX) to a an Overweight rating in its most recent analyst report. Previously, the stock was rated as a Neutral.
What is ARDX’s price target for the next 12 months?
Analysts predict a range of price targets between $6.00 and $12.00, with a median target of $7.75. Taking a look at these predictions, the average price target given by analysts for Ardelyx Inc. (ARDX) stock is $8.42.
