Ardelyx Inc. [NASDAQ: ARDX] stock went on an upward path that rose over 4.78% on Monday, amounting to a one-week price decrease of less than -4.36%. The company report on March 2, 2023 that Ardelyx Reports Fourth Quarter and Full Year 2022 Financial Results and Provides Business Update.
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Over the last 12 months, ARDX stock rose by 293.92%. The one-year Ardelyx Inc. stock forecast points to a potential upside of 41.26. The average equity rating for ARDX stock is currently 1.50, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $826.46 million, with 192.80 million shares outstanding and 184.91 million shares in the current float. Compared to the average trading volume of 7.90M shares, ARDX stock reached a trading volume of 10056507 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 $6.35 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 1.50. 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 03, 2023. While these analysts kept the previous recommendation, Piper Sandler raised their target price from $3 to $8. The new note on the price target was released on November 17, 2022, representing the official price target for Ardelyx Inc. stock. Previously, the target price had yet another drop from $7 to $1, while Cantor Fitzgerald kept a Neutral rating on ARDX stock.
The Average True Range (ATR) for Ardelyx Inc. is set at 0.27, with the Price to Sales ratio for ARDX stock in the period of the last 12 months amounting to 15.83. The Price to Book ratio for the last quarter was 7.31, with the Price to Cash per share for the same quarter was set at 0.56.
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 -4.36. With this latest performance, ARDX shares gained by 12.69% in over the last four-week period, additionally plugging by 178.36% over the last 6 months – not to mention a rise of 293.92% 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 60.95, with the RSI for the last a single of trading hit 60.65, and the three-weeks RSI is set at 60.83 for Ardelyx Inc. [ARDX]. The present Moving Average for the last 50 days of trading for this stock 3.12, while it was recorded at 3.82 for the last single week of trading, and 1.66 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 -122.24 and a Gross Margin at +83.29. Ardelyx Inc.’s Net Margin is presently recorded at -128.85.
Return on Equity for this stock declined to -74.28, with Return on Assets sitting at -39.54.
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 $300 million, or 36.50% of ARDX stock, in the hands of institutional investors. The top three institutional holders of ARDX stocks are: JANUS HENDERSON GROUP PLC with ownership of 19,774,333, which is approximately 139.591% of the company’s market cap and around 1.80% of the total institutional ownership; MILLENNIUM MANAGEMENT LLC, holding 10,383,329 shares of the stock with an approximate value of $38.73 million in ARDX stocks shares; and VANGUARD GROUP INC, currently with $31.01 million in ARDX stock with ownership of nearly 44.696% of the company’s market capitalization.
Positions in Ardelyx Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 73 institutional holders increased their position in Ardelyx Inc. [NASDAQ:ARDX] by around 43,458,711 shares. Additionally, 39 investors decreased positions by around 29,952,668 shares, while 12 investors held positions by with 6,965,443 shares. The mentioned changes placed institutional holdings at 80,376,822 shares, according to the latest SEC report filing. ARDX stock had 41 new institutional investments in for a total of 9,075,969 shares, while 19 institutional investors sold positions of 23,074,986 shares during the same period.