During the last session, Ardelyx Inc. (NASDAQ:ARDX)’s traded shares were 8.42 million, with the beta value of the company hitting 1.21. At the end of the trading day, the stock’s price was $3.29, reflecting an intraday loss of -6.27% or -$0.22. The 52-week high for the ARDX share is $5.12, that puts it down -55.62 from that peak though still a striking 85.11% gain since the share price plummeted to a 52-week low of $0.49. The company’s market capitalization is $723.44M, and the average intraday trading volume over the past 10 days was 6.87 million shares, and the average trade volume was 7.50 million shares over the past three months.
Ardelyx Inc. (ARDX) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.50. ARDX has a Sell rating from 0 analyst(s) out of 7 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 6 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.11.
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Ardelyx Inc. (NASDAQ:ARDX) trade information
Ardelyx Inc. (ARDX) registered a -6.27% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -6.27% in intraday trading to $3.29 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is -9.62%, and it has moved by -29.40% in 30 days. Based on these gigs, the overall price performance for the year is 422.22%. The short interest in Ardelyx Inc. (NASDAQ:ARDX) is 16.69 million shares and it means that shorts have 3.37 day(s) to cover.
The consensus price target of analysts on Wall Street is $7.08, which implies an increase of 53.53% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $5.00 and $10.00 respectively. As a result, ARDX is trading at a discount of -203.95% off the target high and -51.98% off the low.
Ardelyx Inc. (ARDX) estimates and forecasts
Statistics show that Ardelyx Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Ardelyx Inc. (ARDX) shares have gone up 77.84% during the last six months, with a year-to-date growth rate less than the industry average at 7.14% against 13.90. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to grow 42.10% this quarter and then jump 21.40% in the quarter after that. In the rating firms’ projections, revenue will increase 55.70% compared to the previous financial year.
Revenue for the current quarter is expected to be $14.42 million as predicted by 6 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to $17.26 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $2.53 million and $3.92 million respectively. In this case, analysts expect current quarter sales to grow by 470.90% and then jump by 340.30% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 20.80%. While earnings are projected to return 72.10% in 2023, the next five years will return 30.00% per annum.
Ardelyx Inc. is due to release its next quarterly earnings between August 02 and August 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Ardelyx Inc. (NASDAQ:ARDX)’s Major holders
Ardelyx Inc. insiders own 1.50% of total outstanding shares while institutional holders control 41.01%, with the float percentage being 41.63%. Janus Henderson Group PLC is the largest shareholder of the company, while 129 institutions own stock in it. As of Mar 30, 2023, the company held over 22.11 million shares (or 10.31% of all shares), a total value of $105.91 million in shares.
The next largest institutional holding, with 15.2 million shares, is of State Street Corporation’s that is approximately 7.09% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $72.82 million.
Also, the Mutual Funds coming in first place with the largest holdings of Ardelyx Inc. (ARDX) shares are Vanguard Total Stock Market Index Fund and Janus Henderson Global Life Sciences Fund. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 5.27 million shares. This amounts to just over 2.55 percent of the company’s overall shares, with a $15.01 million market value. The same data shows that the other fund manager holds slightly less at 2.94 million, or about 1.42% of the stock, which is worth about $8.38 million.