Janus Henderson Investors US LLC has recently announced that it has increased stake in Ardelyx Inc (NASDAQ:ARDX) by 25.08%. After grabbing 27.17 million shares, the institutional investor is now in possession of 5.45 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 11.71% having worth around $122.55 million. Moreover, BlackRock Fund Advisors increased its share by 0.33 million to have a control over 13.0 million shares. And The Vanguard Group, Inc. raised its holdings to 88508.0 shares by acquiring 11.06 million shares or 4.76% of the stake.
Ardelyx Inc (ARDX) concluded trading on 01/03/24 at a closing price of $6.15, with 4.66 million shares of worth about $28.68 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 80.88% during that period and on Wednesday the price saw a gain of about 1.65%. Currently the company’s common shares owned by public are about 232.14M shares, out of which, 223.56M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 9 analysts are covering the ARDX stock and their offered price forecasts bring an average price target of $10.21. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $12.00 and could fall to a lowest price of $8.00. The stock’s current price level is 39.76% above of average price target set by the analysts, while a rise to estimated low would result in gain of 23.12% for the stock. However, touching the estimated high of $12.00 would mean a gain of 48.75% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 48 times over the past 12 months. They bought 888,753 shares in 15 of the transactions. In 33 selling transactions, insiders dumped 193,819 shares.
SPDR S&P Biotech ETF, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Ardelyx Inc SPDR S&P Biotech ETF is currently holding 9.65 million shares of worth totaling $43.52 million. The company recently came buying 44970.0 shares which brought its stake up to 4.16% of the company’s outstanding shares. iShares Russell 2000 ETF, after buying 5.16 million shares, have now control over 2.22% of the stake in the company. It holds 2538.0 shares of worth $23.27 million.
Ardelyx Inc (NASDAQ: ARDX) started trading at $5.97, below -$0.08 from concluding price of the previous day. However, the stock later moved at a day high price of 6.25, or with a gain of 1.65%. Stock saw a price change of -4.95% in past 5 days and over the past one month there was a price change of 29.20%. Year-to-date (YTD), ARDX shares are showing a performance of -0.81% which increased to 115.79% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $2.63 but also hit the highest price of $6.75 during that period. The average intraday trading volume for Ardelyx Inc shares is 6.62 million. The stock is currently trading 5.64% above its 20-day simple moving average (SMA20), while that difference is up 30.39% for SMA50 and it goes to 47.27% higher than SMA200.
Janus Henderson Investors US LLC acquired 27.17 million shares of Ardelyx Inc having value of about $122.55 million. Data submitted at the U.S SEC by Janus Henderson Investors US LLC revealed that the firm now holds 5.45 million shares in the company valued at close to $33511263.9, or have control over 25.08% stake in the company. Ardelyx Inc (NASDAQ: ARDX) currently have 232.14M outstanding shares and institutions hold larger chunk of about 54.21% of that. Holding of mutual funds in the company is about 25.86% while other institutional holders and individual stake holders have control over 28.39% and 11.60% of the stake respectively.
The stock has a current market capitalization of $1.43B and its 3Y-monthly beta is at 0.91. It has posted earnings per share of -$0.12 in the same period. It has Quick Ratio of 5.35 while making debt-to-equity ratio of 0.18. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for ARDX, volatility over the week remained 4.39% while standing at 5.40% over the month.
Analysts are in expectations that Ardelyx Inc (ARDX) stock would likely to be making an EPS of -$0.1 in the current quarter, while forecast for next quarter EPS is -$0.11 and it is -$0.25 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.14 which is -$0.06 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.06 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 29.24% while it is estimated to increase by 13.81% in next year. EPS is likely to grow at an annualized rate of 30.00% for next 5-years, compared to annual growth of 20.81% made by the stock over the past 5-years.
Analysts at 9 brokerage firms have issued recommendations for the Ardelyx Inc (ARDX)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.00. Out of those 9 Wall Street analysts, 9 recommended a “Buy” rating, while 0 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Raymond James on December 18, 2023 offering a Strong buy rating for the stock and assigned a target price of $12 to it.
