During the recent session, Ardelyx Inc (NASDAQ:ARDX)’s traded shares were 0.55 million, with the beta value of the company hitting 0.82. At the last check today, the stock’s price was $5.22, reflecting an intraday gain of 1.86% or $0.1. The 52-week high for the ARDX share is $10.13, that puts it down -94.06 from that peak though still a striking 22.22% gain since the share price plummeted to a 52-week low of $4.06. The company’s market capitalization is $1.24B, and the average intraday trading volume over the past 10 days was 7.29 million shares, and the average trade volume was 3.78 million shares over the past three months.
Ardelyx Inc (ARDX) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 1.40. ARDX has a Sell rating from 0 analyst(s) out of 8 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 7 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -0.01.
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Ardelyx Inc (NASDAQ:ARDX) trade information
Ardelyx Inc (ARDX) registered a 1.86% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.86% in intraday trading to $5.22, hitting a weekly high. The stock’s 5-day price performance is 4.93%, and it has moved by -11.00% in 30 days. Based on these gigs, the overall price performance for the year is 21.00%. The short interest in Ardelyx Inc (NASDAQ:ARDX) is 24.06 million shares and it means that shorts have 7.96 day(s) to cover.
The consensus price target of analysts on Wall Street is $9, which implies an increase of 42.0% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $2 and $15 respectively. As a result, ARDX is trading at a discount of -187.36% off the target high and 61.69% off the low.
Ardelyx Inc (ARDX) estimates and forecasts
Statistics show that Ardelyx Inc has outperformed its competitors in share price, compared to the industry in which it operates. Ardelyx Inc (ARDX) shares have gone down -22.74% during the last six months, with a year-to-date growth rate more than the industry average at 40.00% against 16.60. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 95.42% this quarter and then drop -12.12% in the quarter after that. In the rating firms’ projections, revenue will increase 161.98% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 108.57M as predicted by 10 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to 83.33M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 34.36M and 46.02M respectively. In this case, analysts expect current quarter sales to grow by 215.94% and then jump by 81.06% 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 41.17% in 2024, the next five years will return 30.00% per annum.
ARDX Dividends
Ardelyx Inc is due to release its next quarterly earnings in December. 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 1.72% of total outstanding shares while institutional holders control 61.45%, with the float percentage being 62.53%. JANUS HENDERSON GROUP PLC is the largest shareholder of the company, while 270.0 institutions own stock in it. As of 2024-06-30, the company held over 25.95 million shares (or 11.1339% of all shares), a total value of $192.14 million in shares.
The next largest institutional holding, with 17.55 million shares, is of BLACKROCK INC.’s that is approximately 7.5312% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $130.06 million.
Also, the Mutual Funds coming in first place with the largest holdings of Ardelyx Inc (ARDX) shares are Vanguard Total Stock Market Index Fund and SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF. Data provided on Jun 30, 2024 indicates that Vanguard Total Stock Market Index Fund owns about 7.02 shares. This amounts to just over 2.97 percent of the company’s overall shares, with a $36.49 million market value. The same data shows that the other fund manager holds slightly less at 6.69, or about 2.83% of the stock, which is worth about $34.77 million.
