Ardelyx Inc (NASDAQ: ARDX): The Most Interesting Shares Today

In the latest trading session, 1.96 million Ardelyx Inc (NASDAQ:ARDX) shares changed hands as the company’s beta touched 0.89. With the company’s most recent per share price at $9.91 changing hands around $0.17 or 1.75% at last look, the market valuation stands at $2.30B. ARDX’s last price was a premium, traded about 0.61% off its 52-week high of $9.85. The share price had its 52-week low at $2.82, which suggests the last value was 71.54% up since then. When we look at Ardelyx Inc’s average trading volume, we note the 10-day average is 4.83 million shares, with the 3-month average coming to 1.52.

Ardelyx Inc (NASDAQ:ARDX) trade information

Instantly ARDX is in green as seen in intraday trades today. With action 10.60%, the performance over the past five days has been green. The jump to weekly highs of 10.13 added 1.75% to the stock’s daily price. The company’s shares are showing year-to-date upside of 59.84%, with the 5-day performance at 10.60% in the green. However, in the 30-day time frame, Ardelyx Inc (NASDAQ:ARDX) is 13.65% up. Looking at the short shares, we see there were 28.16 million shares sold at short interest cover period of 3.74 days.

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Ardelyx Inc (ARDX) estimates and forecasts

Data shows that the Ardelyx Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 147.13% over the past 6 months, a 35.71% in annual growth rate that is considerably higher than the industry average of 11.60%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Ardelyx Inc will fall -250.00%, while the growth in revenue is estimated to hit 23.10% for the next quarter. Year-over-year growth is forecast to reach 138.40% up from the last financial year.

Consensus estimates given by 9 financial analysts project the company’s revenue in the current quarter to hit an average of $34.23 million. 9 analysts are of the opinion that Ardelyx Inc’s revenue for the quarter ending Mar 2024 will be $36.5 million. The company’s revenue for the corresponding quarters a year ago was $44.18 million and $11.37 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -22.50%. The estimates for the next quarter sales put growth at 221.00%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 20.81%. The 2024 estimates are for Ardelyx Inc earnings to increase by 35.36%, but the outlook for the next 5-year period is at 30.00% per year.

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 56.14% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 57.14%. There are 56.14% 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 Aug 30, 2023 were SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund. With 17.61 million shares estimated at $75.03 million under it, the former controlled 8.08% 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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