In today’s recent session, 0.58 million shares of the Ardelyx Inc (NASDAQ:ARDX) have been traded, and its beta is 0.84. Most recently the company’s share price was $5.00, and it changed around -$0.01 or -0.18% from the last close, which brings the market valuation of the company to $1.18B. ARDX at last check was trading at a discount to its 52-week high of $10.13, offering almost -102.6% off that amount. The share price’s 52-week low was $4.32, which indicates that the recent value has risen by an impressive 13.6% since then. We note from Ardelyx Inc’s average daily trading volume that its 10-day average is 5.5 million shares, with the 3-month average coming to 4.78 million.
Ardelyx Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.40. If we narrow it down even further, the data shows that 0 out of 10 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 2 recommended ARDX as a Hold, whereas 8 deemed it a Buy, and 0 rated it as Underweight. Ardelyx Inc is expected to report earnings per share of 0.0 for the current quarter.
Ardelyx Inc (NASDAQ:ARDX) trade information
Instantly ARDX has been showing red trend so far today with a performance of -0.18% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 6.07 on recent trading dayincreased the stock’s daily price by 17.63%. The company’s shares are currently down -1.36% year-to-date, but still down -14.95% over the last five days. On the other hand, Ardelyx Inc (NASDAQ:ARDX) is 7.32% up in the 30-day period. We can see from the shorts that 24.28 million shares have been sold at a short interest cover period of 5.7 day(s).
The consensus price target as assigned by Wall Street analysts is $9.5, which translates to bulls needing to increase their stock price by 47.37% from its current value. Analyst projections state that ARDX is forecast to be at a low of $8 and a high of $11.
Ardelyx Inc (ARDX) estimates and forecasts
Ardelyx Inc share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -9.24 percent over the past six months and at a 43.33% annual growth rate that is well above the industry average of 16.50%. The year-over-year growth rate is expected to be 164.05%, up from the previous year.
Consensus estimates provided by 8 financial analysts predict the company will bring in an average of 110.84M in revenue for the current quarter. 7 analysts expect Ardelyx Inc to make 76.93M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 34.36M and 46.02M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 222.57%. Forecasts for the next quarter put sales growth at 67.15%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 28.61%.
ARDX Dividends
Ardelyx Inc’s next quarterly earnings report is expected to be released in February.
Ardelyx Inc (NASDAQ:ARDX)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 1.86% of Ardelyx Inc shares, and 62.01% of them are in the hands of institutional investors. The stock currently has a share float of 63.19%. Ardelyx Inc stock is held by 266.0 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.
Vanguard Total Stock Market Index Fund and SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF were the top two Mutual Funds as of Sep 30, 2024 . The former held 7.03 shares worth $35.28 million, making up 2.97% of all outstanding shares. On the other hand, SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF held roughly 6.39 shares worth around $32.05 million, which represents about 2.70% of the total shares outstanding.
