Ardelyx Inc (NASDAQ: ARDX) – Suitable For Long Term Buy?

Currently, there are 232.45M common shares owned by the public and among those 223.69M shares have been available to trade.

However, the script later moved the day high at 8.82, up 1.51%. The company’s stock has a 5-day price change of -3.77% and 15.42% over the past three months. ARDX shares are trading 19.52% year to date (YTD), with the 12-month market performance up to 58.33% higher. It has a 12-month low price of $3.16 and touched a high of $10.13 over the same period. ARDX has an average intraday trading volume of 6.33 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 -10.65%, -15.01%, and 35.00% respectively.

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Institutional ownership of Ardelyx Inc (NASDAQ: ARDX) shares accounts for 59.56% of the company’s 232.45M shares outstanding.

It has a market capitalization of $1.72B and a beta (3y monthly) value of 0.85. The earnings-per-share (ttm) stands 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 5.49% over the month.

Earnings per share for the fiscal year are expected to decrease by -38.55%, and 111.63% over the next financial year. EPS should grow at an annualized rate of 30.00% over the next five years, compared to 28.61% 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. H.C. Wainwright coverage for the Ardelyx Inc (ARDX) stock in a research note released on September 07, 2023 offered a Buy rating with a price target of $9. Cantor Fitzgerald was of a view on August 25, 2023 that the stock is Overweight, while Wedbush gave the stock Outperform rating on March 03, 2023, issuing a price target of $3- $6. Piper Sandler on their part issued Overweight rating on November 17, 2022.

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