Ardelyx Inc [ARDX] Is Currently 2.30 below its 200 Period Moving Avg: What Does This Mean?

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Ardelyx Inc [NASDAQ: ARDX] gained 2.30% or 0.18 points to close at $8.02 with a heavy trading volume of 6161466 shares. The company report on March 12, 2024 at 4:35 PM that Ardelyx, Inc. Reports Employment Inducement Grants.

Each stock option vests over four years, with 25% of the shares vesting on the first anniversary of the employee’s first date of employment, and the remaining 75% of shares vesting monthly thereafter. Each RSU vests over four years, with 25% vesting on the first company designated quarterly RSU vest date following the first anniversary of the employee’s first day of employment and the remaining 75% of shares vesting quarterly thereafter. Each stock option has a 10-year term and each option and RSU is subject to the terms and conditions of the company’s 2016 Employment Commencement Incentive Plan and the award agreement covering the grant.

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The daily chart for ARDX points out that the company has recorded 92.33% gains over the past six months.

If we look at the average trading volume of 6.47M shares, ARDX reached to a volume of 6161466 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $13.31 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 1.00. 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.

Raymond James have made an estimate for Ardelyx Inc shares, keeping their opinion on the stock as Strong Buy, with their previous recommendation back on December 18, 2023. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on September 07, 2023, representing the official price target for Ardelyx Inc stock. Previously, the target price had yet another raise from $5 to $10, while Cantor Fitzgerald kept a Overweight rating on ARDX stock. On March 03, 2023, analysts increased their price target for ARDX shares from 3 to 6.

The Average True Range (ATR) for Ardelyx Inc is set at 0.51, with the Price to Sales ratio for ARDX stock in the period of the last 12 months amounting to 14.99. The Price to Book ratio for the last quarter was 11.18, with the Price to Cash per share for the same quarter was set at 0.79.

Trading performance analysis for ARDX stock

Ardelyx Inc [ARDX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.75. With this latest performance, ARDX shares dropped by -11.28% in over the last four-week period, additionally plugging by 92.33% over the last 6 months – not to mention a rise of 98.02% 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 41.04, with the RSI for the last a single of trading hit 36.48, and the three-weeks RSI is set at 45.11 for Ardelyx Inc [ARDX]. The present Moving Average for the last 50 days of trading for this stock 8.88, while it was recorded at 8.13 for the last single week of trading, and 5.36 for the last 200 days.

Ardelyx Inc [ARDX]: A deeper dive into fundamental analysis

Ardelyx Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.64 and a Current Ratio set at 4.88.

Ardelyx Inc [ARDX]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Ardelyx Inc posted -0.13/share EPS, while the average EPS was predicted by analysts to be reported at -0.1/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -30.00%. 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%.

An analysis of Institutional ownership at Ardelyx Inc [ARDX]

The top three institutional holders of ARDX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ARDX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ARDX stock with ownership which is approximately 5.8325%.

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