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Is Ardelyx Inc. (NASDAQ: ARDX) A Disaster Waiting To Happen Or Is It A Chance To Make Money?

In the latest trading session, 1.21 million Ardelyx Inc. (NASDAQ:ARDX) shares changed hands as the company’s beta touched 1.16. With the company’s most recent per share price at $4.41 changed hands at -$0.14 or -2.97% at last look, the market valuation stands at $985.07M. ARDX’s current price is a discount, trading about -16.1% off its 52-week high of $5.12. The share price had its 52-week low at $1.09, which suggests the last value was 75.28% up since then. When we look at Ardelyx Inc.’s average trading volume, we note the 10-day average is 7.8 million shares, with the 3-month average coming to 5.35 million.

Analysts gave the Ardelyx Inc. (ARDX) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.40. If we narrow down to specifics, the data shows that 0 out of 8 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended ARDX as a Hold, 8 felt it is a Buy and 0 rated the stock as Underweight. Ardelyx Inc.’s EPS for the current quarter is expected to be -$0.11.

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Ardelyx Inc. (NASDAQ:ARDX) trade information

Instantly ARDX was in red as seen in intraday trades today. With action -6.66%, the performance over the past five days has been red. The drop to weekly highs of 4.97 on Friday, 09/15/23 subtracted -2.97% to the stock’s daily price. The company’s shares are showing year-to-date upside of 54.91%, with the 5-day performance at -6.66% in the red. However, in the 30-day time frame, Ardelyx Inc. (NASDAQ:ARDX) is 25.78% up. Looking at the short shares, we see there were 25.77 million shares sold at short interest cover period of 5.34 days.

The consensus price target for the stock as assigned by Wall Street analysts is $8.50, meaning bulls need an upside of 48.12% from its recent market value. According to analyst projections, ARDX’s forecast low is $6.00 with $12.00 as the target high. To hit the forecast high, the stock’s price needs a -172.11% plunge from its current level, while the stock would need to soar -36.05% for it to hit the projected low.

Ardelyx Inc. (ARDX) estimates and forecasts

Data shows that the Ardelyx Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 9.01% over the past 6 months, a 9.52% in annual growth rate that is considerably lower than the industry average of 9.70%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Ardelyx Inc. will rise 21.40%, while the growth in revenue is estimated to hit -200.00% for the next quarter. Year-over-year growth is forecast to reach 91.60% up from the last financial year.

Consensus estimates given by 7 financial analysts project the company’s revenue in the current quarter to hit an average of $22.35 million. 7 analysts are of the opinion that Ardelyx Inc.’s revenue for the quarter ending Dec 2023 will be $40.48 million. The company’s revenue for the corresponding quarters a year ago was $3.92 million and $44.18 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 470.20%. The estimates for the next quarter sales put growth at -8.40%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 20.80%. The 2023 estimates are for Ardelyx Inc. earnings to increase by 72.10%, but the outlook for the next 5-year period is at 30.00% per year.

ARDX Dividends

Ardelyx Inc. is expected to release its next quarterly earnings report between November 01 and November 06.

Ardelyx Inc. (NASDAQ:ARDX)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 1.74% of Ardelyx Inc. shares while 56.10% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 57.09%. There are 56.10% institutions holding the Ardelyx Inc. stock share, with State Street Corporation the top institutional holder. As of Jun 29, 2023, the company held 10.30% of the shares, roughly 22.44 million ARDX shares worth $76.06 million.

Janus Henderson Group PLC holds the second largest percentage of outstanding shares, with 10.02% or 21.83 million shares worth $73.99 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jul 30, 2023 were SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund. With 18.17 million shares estimated at $71.58 million under it, the former controlled 8.34% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 3.15% of the shares, roughly 6.87 million shares worth around $23.28 million.

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