Ardelyx Inc. [NASDAQ: ARDX] stock went on an upward path that rose over 4.91% on Wednesday, amounting to a one-week price increase of more than 8.85%. The company report on April 17, 2021 that Ardelyx Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4).
Ardelyx, Inc. (Nasdaq: ARDX), a biopharmaceutical company focused on developing innovative first-in-class medicines to improve treatment for people with kidney and cardiorenal diseases, announced that on April 12, 2021, the compensation committee of the Company’s Board of Directors granted a non-qualified stock option award to purchase 125,622 shares of its common stock and a restricted stock unit award for 26,315 shares in connection with the commencement of employment of its new Chief People Officer, Sarah O’Brien, under the Company’s 2016 Employment Commencement Incentive Plan (the “Inducement Plan”). The stock options and restricted stock units were granted as an inducement material to Ms. O’Brien becoming an employee of the Company in accordance with Nasdaq Listing Rule 5635(c)(4).
The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously employees of the Company (or following a bona fide period of non-employment), as an inducement material to such individual’s entering into employment with Ardelyx pursuant to Rule 5635(c)(4) of the Nasdaq Listing Rules.
Over the last 12 months, ARDX stock rose by 20.54%. The one-year Ardelyx Inc. stock forecast points to a potential upside of 35.21. The average equity rating for ARDX stock is currently 1.40, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $880.76 million, with 91.00 million shares outstanding and 88.91 million shares in the current float. Compared to the average trading volume of 1.68M shares, ARDX stock reached a trading volume of 3907222 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Ardelyx Inc. [ARDX]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ARDX shares is $13.86 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ARDX stock is a recommendation set at 1.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wedbush have made an estimate for Ardelyx Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 23, 2021. While these analysts kept the previous recommendation, Cantor Fitzgerald raised their target price to Overweight. The new note on the price target was released on January 06, 2021, representing the official price target for Ardelyx Inc. stock. Previously, the target price had yet another raise to $13, while Citigroup analysts kept a Buy rating on ARDX stock.
The Average True Range (ATR) for Ardelyx Inc. is set at 0.63, with the Price to Sales ratio for ARDX stock in the period of the last 12 months amounting to 115.89. The Price to Book ratio for the last quarter was 6.46, with the Price to Cash per share for the same quarter was set at 1.90.
ARDX Stock Performance Analysis:
Ardelyx Inc. [ARDX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.85. With this latest performance, ARDX shares gained by 47.21% in over the last four-week period, additionally plugging by 77.47% over the last 6 months – not to mention a rise of 20.54% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ARDX stock in for the last two-week period is set at 66.60, with the RSI for the last a single of trading hit 69.26, and the three-weeks RSI is set at 64.49 for Ardelyx Inc. [ARDX]. The present Moving Average for the last 50 days of trading for this stock 7.19, while it was recorded at 8.53 for the last single week of trading, and 6.41 for the last 200 days.
Insight into Ardelyx Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Ardelyx Inc. [ARDX] shares currently have an operating margin of -1199.05 and a Gross Margin at +45.63. Ardelyx Inc.’s Net Margin is presently recorded at -1245.71.
Return on Total Capital for ARDX is now -43.15, given the latest momentum, and Return on Invested Capital for the company is -45.93. Return on Equity for this stock declined to -60.31, with Return on Assets sitting at -40.89. When it comes to the capital structure of this company, Ardelyx Inc. [ARDX] has a Total Debt to Total Equity ratio set at 42.28. Additionally, ARDX Total Debt to Total Capital is recorded at 29.72, with Total Debt to Total Assets ending up at 26.45. Long-Term Debt to Equity for the company is recorded at 37.30, with the Long-Term Debt to Total Capital now at 26.21.
Reflecting on the efficiency of the workforce at the company, Ardelyx Inc. [ARDX] managed to generate an average of -$731,109 per employee. Receivables Turnover for the company is 20.19 with a Total Asset Turnover recorded at a value of 0.03.Ardelyx Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.90 and a Current Ratio set at 6.90.
ARDX Stock EPS
With the latest financial reports released by the company, Ardelyx Inc. posted -0.25/share EPS, while the average EPS was predicted by analysts to be reported at -0.25/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ARDX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Ardelyx Inc. go to 30.00%.
Ardelyx Inc. [ARDX] Insider Position Details
There are presently around $713 million, or 81.60% of ARDX stock, in the hands of institutional investors. The top three institutional holders of ARDX stocks are: NEA MANAGEMENT COMPANY, LLC with ownership of 13,633,582, which is approximately 0% of the company’s market cap and around 1.30% of the total institutional ownership; RA CAPITAL MANAGEMENT, L.P., holding 6,163,086 shares of the stock with an approximate value of $55.34 million in ARDX stocks shares; and BLACKROCK INC., currently with $53.18 million in ARDX stock with ownership of nearly 1.167% of the company’s market capitalization.
Positions in Ardelyx Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 58 institutional holders increased their position in Ardelyx Inc. [NASDAQ:ARDX] by around 5,757,283 shares. Additionally, 50 investors decreased positions by around 3,995,142 shares, while 27 investors held positions by with 69,617,275 shares. The mentioned changes placed institutional holdings at 79,369,700 shares, according to the latest SEC report filing. ARDX stock had 22 new institutional investments in for a total of 2,902,226 shares, while 11 institutional investors sold positions of 979,619 shares during the same period.