The stock of Ardelyx Inc. (NASDAQ:ARDX) decreased by -$0.05 on Tuesday to finish at $4.20, down -1.18 percent. The last five days have seen an average of 6,141,900 shares of common stock traded. 16 times new highs were reached in the current year, with a gain of $1.35. The average number of shares traded over the last 20 days was 4,854,330, while the average volume over the last 50 days totaled 4,573,950.
ARDX stock appreciated 6.60% since last month. On 08/18/23, the company’s shares reached a one-month low of $3.42. The stock touched a high of $5.12 on 04/17/23, after rallying from a low of $0.82 in 52 weeks. The price of ARDX stock has risen by 47.37% or $1.35 this year, reaching a new high 16 times. Still, the stock price is down -18.05% 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 9 days ago on Aug 21. On Aug 21, President & CEO RAAB MICHAEL sold 11,419 shares at $3.55 each. This transaction resulted in the insider making $40,558. On Aug 21, Rodriguez Susan sold 4,733 shares at a price of US$3.55. After the transaction, the insider now owns 348,687 shares. Chief Financial Officer Renz Justin A had earlier sold 2,884 shares on Aug 21 for $3.55 a share. The transaction was completed for $10,243.
Valuation Metrics
Beta for the stock is 1.15. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 9.83, the price-to-book (PB) ratio of 7.37.
Financial Health
For the three months ended June 29, Ardelyx Inc.’s quick ratio was 2.50, while its current ratio was 2.60, indicating its ability to pay off its debt. As far as profitability goes, gross margin for the trailing twelve months is 89.20% percent. Ardelyx Inc.’s EBITDA margin for the year ended June 29 was -113.42%, whereas its operating margin stood at -63.20% for the same period. Based on annual data, it had gross profit of $48.04 million and revenue of $52.16 million.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. ARDX’s return on assets (ROA) during the last 12 months has been -29.40%. There was a -51.00% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was -54.20%.
Earnings Surprise
According to Ardelyx Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $11.37 million, while revenues rose by 95.87% to $44.18 million. It was predicted that Ardelyx Inc.’s quarterly earnings would be -$0.08, but it ended up being -$0.11, beating the consensus by 27.30%. EBITDA was -$15.98 million for the quarter. At the end of Ardelyx Inc.’s most recent quarter ended June 29, its liabilities totaled 88.04 million, while its total debt was $34.91 million. Equity owned by shareholders amounts to $217.86 million.
Technical Picture
Here’s a quick look at Ardelyx Inc.’s (ARDX) price momentum from a technical perspective. As of 29 August, the RSI 9-day stood at 65.57%, suggesting the stock is Neutral, with a 84.93% historical volatility rate.
The stochastic %K and %D were 82.77% and 61.74% respectively, while the average true range (ATR) was 0.25. Based on the 14-day stochastic reading of 75.74%, the RSI (14) reading is 61.96%. On the 9-day MACD Oscillator, the stock is at 0.38, and the 14-day reading is at 0.32.
Analyst Ratings
In its most recent analyst report, Cantor Fitzgerald raised its rating on Ardelyx Inc. (NASDAQ: ARDX) to an Overweight. Prior to this, analysts firm rated the stock as a Neutral. Analysts have assigned Ardelyx Inc. (ARDX) an Buy rating. ARDX is a stock that is recommended for selling by 0 brokerage firms, while 0 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 0 rates it overweight and 7 others recommend it as a buy.
What is ARDX’s price target for the next 12 months?
The current consensus forecast for the stock is between $6.00 and $12.00, with a median target price of $7.75. In analyzing these forecasts, the average price target given by analysts for Ardelyx Inc. (ARDX) is $8.42.
