Leerink Partners slashes price target on Ardelyx Inc [ARDX] – find out why.

Ardelyx Inc [NASDAQ: ARDX] stock went on a downward path that fall over -2.40% on Monday, amounting to a one-week price decrease of less than -1.21%. The company report on March 28, 2024 at 4:05 PM that Ardelyx, Inc. Reports Employment Inducement Grants.

The stock option granted to Mr. Kelliher and each stock option granted to the non-executive employees vest 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. The RSU granted to Mr. Kelliher and each RSU granted to the non-executive employees vest 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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Over the last 12 months, ARDX stock rose by 65.24%. The one-year Ardelyx Inc stock forecast points to a potential upside of 45.33. The average equity rating for ARDX stock is currently 1.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $1.70 billion, with 232.45 million shares outstanding and 223.69 million shares in the current float. Compared to the average trading volume of 6.46M shares, ARDX stock reached a trading volume of 5205003 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 $13.39 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.

Leerink Partners have made an estimate for Ardelyx Inc shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 05, 2024. While these analysts kept the previous recommendation, Raymond James raised their target price to Strong Buy. The new note on the price target was released on December 18, 2023, representing the official price target for Ardelyx Inc stock. Previously, the target price had yet another raise to $9, while H.C. Wainwright analysts kept a Buy rating on ARDX stock. On August 25, 2023, analysts increased their price target for ARDX shares from 5 to 10.

The Average True Range (ATR) for Ardelyx Inc is set at 0.44, with the Price to Sales ratio for ARDX stock in the period of the last 12 months amounting to 13.69. The Price to Book ratio for the last quarter was 10.20, with the Price to Cash per share for the same quarter was set at 0.79.

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 -1.21. With this latest performance, ARDX shares dropped by -18.39% in over the last four-week period, additionally plugging by 81.19% over the last 6 months – not to mention a rise of 65.24% 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 38.16, with the RSI for the last a single of trading hit 37.05, and the three-weeks RSI is set at 41.31 for Ardelyx Inc [ARDX]. The present Moving Average for the last 50 days of trading for this stock 8.58, while it was recorded at 7.33 for the last single week of trading, and 5.59 for the last 200 days.

Insight into Ardelyx Inc Fundamentals:

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

ARDX Stock EPS

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%.

Ardelyx Inc [ARDX] Institutonal Ownership Details

The top three institutional holders of ARDX stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in ARDX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in ARDX stock with ownership which is approximately 5.8386%.

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