In the latest trading session, 0.85 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 $5.76 changed hands at -$0.09 or -1.46% at last look, the market valuation stands at $1.36B. ARDX’s current price is a discount, trading about -75.87% off its 52-week high of $10.13. The share price had its 52-week low at $3.16, which suggests the last value was 45.14% up since then. When we look at Ardelyx Inc’s average trading volume, we note the 10-day average is 3.63 million shares, with the 3-month average coming to 4.55 million.
Analysts gave the Ardelyx Inc (ARDX) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.20. 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, 1 recommended ARDX as a Hold, 7 felt it is a Buy and 0 rated the stock as Underweight. Ardelyx Inc’s EPS for the current quarter is expected to be -0.05.
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Ardelyx Inc (NASDAQ:ARDX) trade information
Instantly ARDX was in red as seen in intraday trades today. With action -0.96%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -7.03%, with the 5-day performance at -0.96% in the red. However, in the 30-day time frame, Ardelyx Inc (NASDAQ:ARDX) is 4.62% up. Looking at the short shares, we see there were 26.56 million shares sold at short interest cover period of 5.14 days.
The consensus price target for the stock as assigned by Wall Street analysts is 9, meaning bulls need an upside of 36.0% from its recent market value. According to analyst projections, ARDX’s forecast low is 2 with 15 as the target high. To hit the forecast high, the stock’s price needs a -160.42% plunge from its current level, while the stock would need to tank 65.28% 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 -36.24% over the past 6 months, a 13.33% in annual growth rate that is considerably lower than the industry average of 19.30%. Year-over-year growth is forecast to reach 143.90% up from the last financial year.
Consensus estimates given by 10 financial analysts project the company’s revenue in the current quarter to hit an average of 86.24M. 10 analysts are of the opinion that Ardelyx Inc’s revenue for the current quarter will be 98.05M. The company’s revenue for the corresponding quarters a year ago was 22.57M and 34.36M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 282.10%. The estimates for the next quarter sales put growth at 185.30%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 28.61%. The 2024 estimates are for Ardelyx Inc earnings to increase by 11.10%, 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 on 2024-Oct-29.
Ardelyx Inc (NASDAQ:ARDX)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 1.69% of Ardelyx Inc shares while 61.84% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 62.90%. There are 61.84% institutions holding the Ardelyx Inc stock share, with JANUS HENDERSON GROUP PLC the top institutional holder. As of 2024-03-31, the company held 10.0524% of the shares, roughly 22.05 million ARDX shares worth $160.86 million.
BLACKROCK INC. holds the second largest percentage of outstanding shares, with 7.7946% or 17.1 million shares worth $124.8 million as of 2024-03-31.
Among Mutual Funds, the top two as of Mar 31, 2024 were Vanguard Total Stock Market Index Fund and SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF. With 7.12 shares estimated at $41.1 million under it, the former controlled 3.03% of total outstanding shares. On the other hand, SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF held about 2.74% of the shares, roughly 6.46 shares worth around $37.25 million.
