Gains May Be On The Menu For Ardelyx Inc (NASDAQ: ARDX)

Currently, there are 232.14M common shares owned by the public and among those 222.25M shares have been available to trade.

Insiders at the company have transacted a total of 39 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 6 of these insider trades were purchases, accounting for 119,428 shares. Insider sales of the common stock occurred on 33 occasions, with total insider shares sold totaling 193,819 shares.

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The company’s stock has a 5-day price change of 8.59% and 173.31% over the past three months. ARDX shares are trading 56.94% year to date (YTD), with the 12-month market performance up to 193.96% higher. It has a 12-month low price of $2.82 and touched a high of $9.85 over the same period. ARDX has an average intraday trading volume of 1.13 shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 9.37%, 34.59%, and 105.86% respectively.

Institutional ownership of Ardelyx Inc (NASDAQ: ARDX) shares accounts for 55.60% of the company’s 232.14M shares outstanding.

It has a market capitalization of $2.26B and a beta (3y monthly) value of 0.89. 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 5.28% over the week and 5.75% over the month.

Analysts forecast that Ardelyx Inc (ARDX) will achieve an EPS of -$0.09 for the current quarter, -$0.1 for the next quarter and -$0.22 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.13 while analysts give the company a high EPS estimate of -$0.04. Comparatively, EPS for the current quarter was $0.06 a year ago. Earnings per share for the fiscal year are expected to increase by 35.36%, and 17.93% 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.

Looking at the support for the ARDX, a number of firms have released research notes about the stock. Raymond James stated their Strong Buy rating for the stock in a research note on December 18, 2023, with the firm’s price target at $12.

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