RA Capital Management LLC recently announced the acquisition of new stake in Ardelyx Inc. (NASDAQ:ARDX). The institutional investor has increased its shareholding in the Healthcare company by 19.74% to 6.42 million shares with purchase of 1.06 million shares. This fresh investment now brings its stake to 7.21% valued currently at $47.03 million. In addition, BlackRock Fund Advisors raised its holdings by 0.85 million to 4.7 million shares. And Marshall Wace LLP has lifted its position by 190.53% or 2.19 million shares – to 3.33 million shares.
With over 0.61 million Ardelyx Inc. (ARDX) shares trading Wednesday and a closing price of $7.05 on the day, the dollar volume was approximately $4.3 million. The shares have shown a positive weekly performance of 1.88% and its price on 07/08/20 gained nearly 0.57%. Currently, there are 88.88M common shares owned by the public and among those 87.94M shares have been available to trade.
Insiders at the company have transacted a total of 84 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 45 of these insider trades were purchases, accounting for 7,424,305 shares. Insider sales of the common stock occurred on 39 occasions, with total insider shares sold totaling 10,569,642 shares.
The top 3 mutual fund holders in Ardelyx Inc. are Vanguard Total Stock Market Index, iShares Russell 2000 ETF, and T Rowe Price New Horizons Fund. Vanguard Total Stock Market Index owns 1.91 million shares of the company’s stock, all valued at over $13.99 million. The company sold 28111.0 shares recently to bring their total holdings to about 2.14% of the shares outstanding. iShares Russell 2000 ETF bought 13038.0 shares to see its total holdings expand to 1.31 million shares valued at over $9.57 million and representing 1.47% of the shares outstanding. T Rowe Price New Horizons Fund bought 0.14 million shares to bring its total holdings to over 1.11 million shares at a value of $8.1 million. T Rowe Price New Horizons Fund now owns shares totaling to 1.24% of the shares outstanding.
Shares of Ardelyx Inc. (NASDAQ: ARDX) opened at $6.97, down -$0.04 from a prior closing price of $7.01. However, the script later closed the day at $7.05, up 0.57%. The company’s stock has a 5-day price change of 1.88% and 31.28% over the past three months. ARDX shares are trading -6.06% year to date (YTD), with the 12-month market performance up to 170.11% higher. It has a 12-month low price of $2.10 and touched a high of $8.81 over the same period. Currently, 0.61 million shares have been traded, compared to an average intraday trading volume of 776.17K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.06%, -1.36%, and 7.51% respectively.
Institutional ownership of Ardelyx Inc. (NASDAQ: ARDX) shares accounts for 86.30% of the company’s 88.88M shares outstanding. Mutual fund holders own 29.18%, while other institutional holders and individual stakeholders account for 50.91% and 17.09% respectively.
It has a market capitalization of $610.88M and a beta (3y monthly) value of 1.99. The stock’s earnings-per-share (ttm) stands at -$1.32. The company has a Quick Ratio of 9.80 with the debt-to-equity ratio at 0.30. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.58% over the week and 6.01% over the month.
Analysts forecast that Ardelyx Inc. (ARDX) will achieve an EPS of -$0.26 for the current quarter, -$0.27 for the next quarter and -$1.08 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.29 while analysts give the company a high EPS estimate of -$0.22. Comparatively, EPS for the current quarter was -$0.41 a year ago. Earnings per share for the fiscal year are expected to increase by 9.30%, and -1.90% over the next financial year. EPS should grow at an annualized rate of 30.00% over the next five years, compared to -53.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 6 brokerage firm advisors rate Ardelyx Inc. (ARDX) as a “Strong Buy” at a consensus score of 1.30. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 0 of the 6 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ARDX, a number of firms have released research notes about the stock. Jefferies stated their Buy rating for the stock in a research note on February 18, 2020, with the firm’s price target at $11. Citigroup coverage for the Ardelyx Inc. (ARDX) stock in a research note released on February 12, 2020 offered a Buy rating with a price target of $13. Cowen was of a view on February 10, 2020 that the stock is Outperform, while Piper Jaffray gave the stock Overweight rating on April 08, 2019 $15. Jefferies on their part issued Buy rating on August 24, 2018.