Ardelyx Inc. [ARDX] Revenue clocked in at $9.00 million, up 159.09% YTD: What’s Next?

Ardelyx Inc. [NASDAQ: ARDX] jumped around 0.32 points on Friday, while shares priced at $2.85 at the close of the session, up 12.65%. The company report on December 29, 2022 that FDA Grants Appeal for Ardelyx’s XPHOZAH® (tenapanor).

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Office of New Drugs directs the Division of Cardiology and Nephrology to work with Ardelyx to develop a label to support the commercialization of XPHOZAH; Ardelyx to resubmit NDA in the first half of 2023.

Upon approval, XPHOZAH would be the first and only phosphate absorption inhibitor, offering patients a novel mechanism.

Ardelyx Inc. stock is now 159.09% up from its year-to-date (YTD) trading value. ARDX Stock saw the intraday high of $2.86 and lowest of $2.53 per share. The company’s 52-week high price is 2.67, which means current price is +481.40% above from all time high which was touched on 12/30/22.

Compared to the average trading volume of 9.55M shares, ARDX reached a trading volume of 13679046 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 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 $5.52 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 1.70. 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.

Piper Sandler have made an estimate for Ardelyx Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on November 17, 2022. While these analysts kept the previous recommendation, Cantor Fitzgerald dropped their target price from $7 to $1. The new note on the price target was released on May 06, 2022, representing the official price target for Ardelyx Inc. stock. Previously, the target price had yet another raise to $6, while Ladenburg Thalmann analysts kept a Buy rating on ARDX stock.

The Average True Range (ATR) for Ardelyx Inc. is set at 0.23, with the Price to Sales ratio for ARDX stock in the period of the last 12 months amounting to 52.70. The Price to Book ratio for the last quarter was 7.12, with the Price to Cash per share for the same quarter was set at 0.54.

How has ARDX stock performed recently?

Ardelyx Inc. [ARDX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 22.32. With this latest performance, ARDX shares gained by 65.70% in over the last four-week period, additionally plugging by 383.13% over the last 6 months – not to mention a rise of 179.41% 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 79.09, with the RSI for the last a single of trading hit 84.64, and the three-weeks RSI is set at 75.05 for Ardelyx Inc. [ARDX]. The present Moving Average for the last 50 days of trading for this stock 1.75, while it was recorded at 2.54 for the last single week of trading, and 1.12 for the last 200 days.

Ardelyx Inc. [ARDX]: Deeper insight into the fundamentals

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

Earnings analysis for Ardelyx Inc. [ARDX]

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%.

Insider trade positions for Ardelyx Inc. [ARDX]

There are presently around $191 million, or 36.50% of ARDX stock, in the hands of institutional investors. The top three institutional holders of ARDX stocks are: DEEP TRACK CAPITAL, LP with ownership of 14,858,000, which is approximately New of the company’s market cap and around 1.80% of the total institutional ownership; JANUS HENDERSON GROUP PLC, holding 8,253,378 shares of the stock with an approximate value of $23.52 million in ARDX stocks shares; and VANGUARD GROUP INC, currently with $16.38 million in ARDX stock with ownership of nearly 9.718% of the company’s market capitalization.

Positions in Ardelyx Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 43 institutional holders increased their position in Ardelyx Inc. [NASDAQ:ARDX] by around 41,795,710 shares. Additionally, 38 investors decreased positions by around 13,003,347 shares, while 20 investors held positions by with 12,052,558 shares. The mentioned changes placed institutional holdings at 66,851,615 shares, according to the latest SEC report filing. ARDX stock had 25 new institutional investments in for a total of 36,901,336 shares, while 17 institutional investors sold positions of 3,930,576 shares during the same period.


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