In the last trading session, 3.01 million shares of the Ardelyx Inc (NASDAQ:ARDX) were traded, and its beta was 0.91. Most recently the company’s share price was $5.96, and it changed around -$0.17 or -2.77% from the last close, which brings the market valuation of the company to $1.40B. ARDX currently trades at a discount to its 52-week high of $10.13, offering almost -69.97% off that amount. The share price’s 52-week low was $3.16, which indicates that the current value has risen by an impressive 46.98% since then. We note from Ardelyx Inc’s average daily trading volume that its 10-day average is 3.77 million shares, with the 3-month average coming to 3.50 million.
Ardelyx Inc stock received a consensus recommendation rating of Overweight, based on a mean score of 1.20. If we narrow it down even further, the data shows that 0 out of 7 analysts rate the stock as a Sell; another 5 rate it as Overweight. Among the rest, 0 recommended ARDX as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. Ardelyx Inc is expected to report earnings per share of -0.05 for the current quarter.
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Ardelyx Inc (NASDAQ:ARDX) trade information
Instantly ARDX has showed a red trend with a performance of -2.77% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 7.04 on recent trading dayincreased the stock’s daily price by 15.34%. The company’s shares are currently down -3.87% year-to-date, but still down -12.99% over the last five days. On the other hand, Ardelyx Inc (NASDAQ:ARDX) is 4.75% up in the 30-day period. We can see from the shorts that 25.93 million shares have been sold at a short interest cover period of 9.89 day(s).
The consensus price target as assigned by Wall Street analysts is $9, which translates to bulls needing to increase their stock price by 33.78% from its current value. Analyst projections state that ARDX is forecast to be at a low of $2 and a high of $15.
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 fallen -16.88 percent over the past six months and at a 16.67% annual growth rate that is well below the industry average of 19.30%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -266.70% in revenue this quarter, and will report an increase of 75.00% in the next quarter. The year-over-year growth rate is expected to be 145.80%, up from the previous year.
Consensus estimates provided by 10 financial analysts predict the company will bring in an average of 86.64M in revenue for the current quarter. 10 analysts expect Ardelyx Inc to make 100.05M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 22.57M and 34.36M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 283.90%. Forecasts for the next quarter put sales growth at 191.20%.
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 14.24% 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 in November.
Ardelyx Inc (NASDAQ:ARDX)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.60% of Ardelyx Inc shares, and 61.81% of them are in the hands of institutional investors. The stock currently has a share float of 62.81%. Ardelyx Inc stock is held by 257.0 institutions, with JANUS HENDERSON GROUP PLC being the largest institutional investor. By 2024-06-30, it held 11.1339% of the shares, which is about 25.95 million shares worth $192.14 million.
BLACKROCK INC., with 7.5312% or 17.55 million shares worth $130.06 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
