Janus Henderson Investors US 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 25.08% to 27.17 million shares with purchase of 5.45 million shares. This fresh investment now brings its stake to 12.47% valued currently at $107.33 million. In addition, BlackRock Fund Advisors raised its holdings by 0.33 million to 13.0 million shares. And The Vanguard Group, Inc. has lifted its position by 0.81% or 88508.0 shares – to 11.06 million shares.
With over 4.39 million Ardelyx Inc (ARDX) shares trading Tuesday and a closing price of $5.25 on the day, the dollar volume was approximately $23.05 million. The shares have shown a positive half year performance of 29.31% and its price on 12/12/23 gained nearly 1.35%. Currently, there are 232.14M common shares owned by the public and among those 222.75M shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for ARDX have a consensus price objective of $9.58. The analysts have set the share’s price value over the next 12 months at a high of $12.00 and a low of $6.00. The average price target is 45.2% above its recent price level and an upside to the estimated low will see the stock gain 12.5% over that period. But an upside of 56.25% will see the stock hit the forecast high price target while median target price for the stock is $9.75.
Insiders at the company have transacted a total of 48 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 15 of these insider trades were purchases, accounting for 888,753 shares. Insider sales of the common stock occurred on 33 occasions, with total insider shares sold totaling 193,819 shares.
The top 3 mutual fund holders in Ardelyx Inc are SPDR S&P Biotech ETF, Vanguard Total Stock Market ETF, and Janus Henderson Global Life Scien. SPDR S&P Biotech ETF owns 9.51 million shares of the company’s stock, all valued at over $37.58 million. The company bought an additional 56867.0 shares recently to bring their total holdings to about 4.37% of the shares outstanding. Janus Henderson Global Life Scien bought 83955.0 shares to bring its total holdings to over 4.99 million shares at a value of $19.7 million. Janus Henderson Global Life Scien now owns shares totaling to 2.29% of the shares outstanding.
Shares of Ardelyx Inc (NASDAQ: ARDX) opened at $5.17, down -$0.01 from a prior closing price of $5.18. The company’s stock has a 5-day price change of 4.58% and 14.38% over the past three months. ARDX shares are trading 84.21% year to date (YTD), with the 12-month market performance up to 194.94% higher. It has a 12-month low price of $1.70 and touched a high of $5.45 over the same period. ARDX has an average intraday trading volume of 6.39 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 16.37%, 29.27%, and 31.25% respectively.
Institutional ownership of Ardelyx Inc (NASDAQ: ARDX) shares accounts for 54.23% of the company’s 232.14M shares outstanding. Mutual fund holders own 28.29%, while other institutional holders and individual stakeholders account for 29.52% and 12.40% respectively.
It has a market capitalization of $1.22B and a beta (3y monthly) value of 0.87. The earnings-per-share (ttm) stands at -$0.12. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.69% over the week and 5.63% over the month.
Analysts forecast that Ardelyx Inc (ARDX) will achieve an EPS of -$0.1 for the current quarter, -$0.11 for the next quarter and -$0.23 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.14 while analysts give the company a high EPS estimate of -$0.06. Comparatively, EPS for the current quarter was $0.06 a year ago. Earnings per share for the fiscal year are expected to increase by 28.73%, and 19.60% over the next financial year. EPS should grow at an annualized rate of 30.00% over the next five years, compared to 20.81% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Ardelyx Inc (ARDX) as a “Strong Buy” at a consensus score of 1.00. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 0 of the 8 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. H.C. Wainwright stated their Buy rating for the stock in a research note on September 07, 2023, with the firm’s price target at $9.
