Now Is A Good Time To Buy Ardelyx Inc (NASDAQ: ARDX)

During the last session, Ardelyx Inc (NASDAQ:ARDX)’s traded shares were 5.99 million, with the beta value of the company hitting 0.83. At the end of the trading day, the stock’s price was $7.35, reflecting an intraday gain of 0.14% or $0.01. The 52-week high for the ARDX share is $10.13, that puts it down -37.82 from that peak though still a striking 57.01% gain since the share price plummeted to a 52-week low of $3.16. The company’s market capitalization is $1.71B, and the average intraday trading volume over the past 10 days was 5.27 million shares, and the average trade volume was 6.33 million shares over the past three months.

Ardelyx Inc (NASDAQ:ARDX) trade information

Ardelyx Inc (ARDX) registered a 0.14% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 0.14% in intraday trading to $7.35, hitting a weekly high. The stock’s 5-day price performance is -0.94%, and it has moved by -18.69% in 30 days. Based on these gigs, the overall price performance for the year is 53.44%. The short interest in Ardelyx Inc (NASDAQ:ARDX) is 36.31 million shares and it means that shorts have 5.93 day(s) to cover.

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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 81.03% during the last six months, with a year-to-date growth rate less than the industry average at -46.67% against 8.20. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -7.70% this quarter and then drop -50.00% in the quarter after that. In the rating firms’ projections, revenue will increase 68.30% compared to the previous financial year.

Revenue for the current quarter is expected to be $36.71 million as predicted by 8 analyst(s). Meanwhile, a consensus of 8 analyst(s) estimates revenue growth to $47.8 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $11.37 million and $15.27 million respectively. In this case, analysts expect current quarter sales to grow by 222.90% and then jump by 213.00% 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 28.61%. While earnings are projected to return -38.55% in 2024, the next five years will return 30.00% per annum.

ARDX Dividends

Ardelyx Inc is due to release its next quarterly earnings between May 01 and May 06. 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 1.88% of total outstanding shares while institutional holders control 59.71%, with the float percentage being 60.85%. State Street Corporation is the largest shareholder of the company, while 228 institutions own stock in it. As of Jun 29, 2023, the company held over 22.44 million shares (or 10.30% of all shares), a total value of $76.06 million in shares.

The next largest institutional holding, with 21.83 million shares, is of Janus Henderson Group PLC’s that is approximately 10.02% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $73.99 million.

Also, the Mutual Funds coming in first place with the largest holdings of Ardelyx Inc (ARDX) shares are SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund. Data provided on Aug 30, 2023 indicates that SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF owns about 17.61 million shares. This amounts to just over 8.08 percent of the company’s overall shares, with a $75.03 million market value. The same data shows that the other fund manager holds slightly less at 6.87 million, or about 3.15% of the stock, which is worth about $23.28 million.