Ardelyx Inc. [ARDX] Revenue clocked in at $5.20 million, down -4.55% YTD: What’s Next?

Ardelyx Inc. [NASDAQ: ARDX] price surged by 5.00 percent to reach at $0.05. The company report on August 4, 2022 that Ardelyx Reports Second Quarter 2022 Financial Results and Recent Business Highlights.


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Conference call scheduled for 4:30 p.m. Eastern Time today.

Ardelyx, Inc. (Nasdaq: ARDX), a biopharmaceutical company founded with a mission to discover, develop and commercialize innovative first-in-class medicines that meet significant unmet medical needs, today reported business updates and financial results for the second quarter ended June 30, 2022.

A sum of 6110073 shares traded at recent session while its average daily volume was at 2.53M shares. Ardelyx Inc. shares reached a high of $1.06 and dropped to a low of $0.986 until finishing in the latest session at $1.05.

The one-year ARDX stock forecast points to a potential upside of 78.26. The average equity rating for ARDX stock is currently 1.90, trading closer to a bullish pattern in the stock market.

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 $4.83 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 1.90. 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.

Cantor Fitzgerald have made an estimate for Ardelyx Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 06, 2022. The new note on the price target was released on December 01, 2021, representing the official price target for Ardelyx Inc. stock. On July 21, 2021, analysts decreased their price target for ARDX shares from 11 to 2.

The Average True Range (ATR) for Ardelyx Inc. is set at 0.07, with the Price to Sales ratio for ARDX stock in the period of the last 12 months amounting to 32.45. The Price to Book ratio for the last quarter was 2.92, with the Price to Cash per share for the same quarter was set at 0.50.

ARDX Stock Performance Analysis:

Ardelyx Inc. [ARDX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.78. With this latest performance, ARDX shares gained by 53.98% in over the last four-week period, additionally plugging by 61.29% over the last 6 months – not to mention a drop of -28.57% 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 70.26, with the RSI for the last a single of trading hit 71.29, and the three-weeks RSI is set at 67.70 for Ardelyx Inc. [ARDX]. The present Moving Average for the last 50 days of trading for this stock 0.7403, while it was recorded at 1.0260 for the last single week of trading, and 0.8800 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 -1528.63 and a Gross Margin at +45.27. Ardelyx Inc.’s Net Margin is presently recorded at -1566.46.

Return on Equity for this stock declined to -151.55, with Return on Assets sitting at -90.00.

Ardelyx Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.30 and a Current Ratio set at 2.30.

ARDX Stock EPS

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 $40 million, or 25.90% of ARDX stock, in the hands of institutional investors. The top three institutional holders of ARDX stocks are: VANGUARD GROUP INC with ownership of 5,236,617, which is approximately 33.212% of the company’s market cap and around 2.40% of the total institutional ownership; POINT72 ASSET MANAGEMENT, L.P., holding 5,000,000 shares of the stock with an approximate value of $5.25 million in ARDX stocks shares; and AIGH CAPITAL MANAGEMENT LLC, currently with $3.96 million in ARDX stock with ownership of nearly 21.153% of the company’s market capitalization.

Positions in Ardelyx Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 41 institutional holders increased their position in Ardelyx Inc. [NASDAQ:ARDX] by around 15,136,118 shares. Additionally, 56 investors decreased positions by around 17,118,315 shares, while 14 investors held positions by with 5,735,314 shares. The mentioned changes placed institutional holdings at 37,989,747 shares, according to the latest SEC report filing. ARDX stock had 21 new institutional investments in for a total of 11,320,816 shares, while 35 institutional investors sold positions of 6,540,151 shares during the same period.

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