In the last trading session, 6.49 million shares of the Ardelyx Inc (NASDAQ:ARDX) were traded, and its beta was 0.85. Most recently the company’s share price was $7.30, and it changed around -$0.11 or -1.48% from the last close, which brings the market valuation of the company to $1.70B. ARDX currently trades at a discount to its 52-week high of $10.13, offering almost -38.77% off that amount. The share price’s 52-week low was $3.16, which indicates that the current value has risen by an impressive 56.71% since then. We note from Ardelyx Inc’s average daily trading volume that its 10-day average is 5.78 million shares, with the 3-month average coming to 6.30 million.
Ardelyx Inc stock received a consensus recommendation rating of Overweight, based on a mean score of 1.00. If we narrow it down even further, the data shows that 0 out of 10 analysts rate the stock as a Sell; another 6 rate it as Overweight. Among the rest, 0 recommended ARDX as a Hold, whereas 4 deemed it a Buy, and 0 rated it as Underweight. Ardelyx Inc is expected to report earnings per share of -$0.14 for the current quarter.
Ardelyx Inc (NASDAQ:ARDX) trade information
Instantly ARDX has showed a red trend with a performance of -1.48% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 17.74% year-to-date, but still down -6.77% over the last five days. On the other hand, Ardelyx Inc (NASDAQ:ARDX) is -22.83% down in the 30-day period. We can see from the shorts that 36.31 million shares have been sold at a short interest cover period of 5.93 day(s).
The consensus price target as assigned by Wall Street analysts is $7, which translates to bulls needing to decrease their stock price by -4.29% from its current value. Analyst projections state that ARDX is forecast to be at a low of $2 and a high of $12.
Ardelyx Inc (ARDX) estimates and forecasts
Ardelyx Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 76.33 percent over the past six months and at a -46.67% annual growth rate that is well below the industry average of 8.20%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -7.70% in revenue this quarter, and will report a decrease of -50.00% in the next quarter. The year-over-year growth rate is expected to be 68.30%, up from the previous year.
Consensus estimates provided by 8 financial analysts predict the company will bring in an average of $36.71 million in revenue for the current quarter. 8 analysts expect Ardelyx Inc to make $47.8 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $11.37 million and $15.27 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 222.90%. Forecasts for the next quarter put sales growth at 213.00%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 28.61%. Ardelyx Inc earnings are expected to increase by -38.55% in 2024, but the outlook is positive 30.00% per year for the next five years.
ARDX Dividends
Ardelyx Inc’s next quarterly earnings report is expected to be released around May 01 and May 06.
Ardelyx Inc (NASDAQ:ARDX)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.88% of Ardelyx Inc shares, and 59.71% of them are in the hands of institutional investors. The stock currently has a share float of 60.85%. Ardelyx Inc stock is held by 228 institutions, with State Street Corporation being the largest institutional investor. By Jun 29, 2023, it held 10.30% of the shares, which is about 22.44 million shares worth $76.06 million.
Janus Henderson Group PLC, with 10.02% or 21.83 million shares worth $73.99 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.
SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of Aug 30, 2023. The former held 17.61 million shares worth $75.03 million, making up 8.08% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 6.87 million shares worth around $23.28 million, which represents about 3.15% of the total shares outstanding.
