Ardelyx Inc (NASDAQ:ARDX) finished Friday with an addition of $0.04 to close at $4.08, an upside of 0.99 percent. An average of 4,729,940 shares of common stock have been traded in the last five days. There was a gain of $0.13 in the past week, and it reached a new high 30 times over the past 12 months. The last 20 days have seen an average of 6,597,685 shares traded, while the 50-day average volume stands at 5,320,038.
ARDX stock has decreased by -3.77% in the last month. The company shares reached their 1-month lowest point of $3.62 on 09/22/23. With the stock rallying to its 52-week high on 04/17/23, shares of the company touched a low of $1.11 and a high of $5.12 in 52 weeks. It has reached a new high 16 times so far this year and achieved 43.16% or $1.23 in price. In spite of this, the price is down -20.39% 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 22 days ago on Sep 08. In this transaction, the insider spent $13,181. President & CEO, RAAB MICHAEL, disposed of 11,419 shares at a price of $3.55 on Aug 21. The insider now owns more than $40,558 worth of shares. Prior to that, Chief Commercial Officer Rodriguez Susan went on to Sale 4,733 shares at $3.55 each on Aug 21. An amount of $16,811 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 10.73, the price-to-book (PB) ratio at 7.22.
Financial Health
The quick ratio of Ardelyx Inc for the three months ended June 29 was 2.50, and the current ratio was 2.63, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.03 and a total debt to equity ratio of 0.28 for the quarter ending June 29. Its gross profit as reported stood at $48.04 million compared to revenue of $52.16 million.
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 29 September was 47.72%, suggesting the stock is Neutral, with historical volatility in this time frame at 64.16%.
As of today, ARDX’s price is $4.04 +3.29% or $0.13 from its 5-day moving average. ARDX is currently trading -4.23% lower than its 20-day SMA and -2.63% lower than its 100-day SMA. However, the stock’s current price level is +19.30% above the SMA50 and +102.99% above the SMA200.
The stochastic %K and %D were 34.57% and 33.00%, respectively, and the average true range (ATR) was 0.27. With the 14-day stochastic at 34.07% and the average true range at 0.27, the RSI (14) stands at 48.76%. The stock has reached 0.12 on the 9-day MACD Oscillator while the 14-day reading was at -0.09.
Analyst Ratings
H.C. Wainwright launched coverage on Ardelyx Inc (NASDAQ: ARDX) in its analyst report released on September 07, 2023. The firm assigned the stock a Buy rating. 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 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 8 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 $6.00 and $12.00, with a median target of $8.50. Taking a look at these predictions, the average price target given by analysts for Ardelyx Inc (ARDX) stock is $8.50.
