Ardelyx Inc (NASDAQ:ARDX) shares, rose in value, with the stock price down by -2.59% to the previous day’s close as strong demand from buyers drove the stock to $7.16.
Actively observing the price movement in the last trading, the stock closed the session at $7.35. The value of beta (5-year monthly) was 0.88. Referring to stock’s 52-week performance, its high was $10.13, and the low was $3.16. On the whole, ARDX has fluctuated by -25.34% over the past month.
With the market capitalization of Ardelyx Inc currently standing at about $1.67 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 01, 2024 – May 06, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.14, which is expected to increase to -$0.08 for fiscal year -$0.45 and then to about $0 by fiscal year 2025. Data indicates that the EPS growth is expected to be -50.00% in 2025, while the next year’s EPS growth is forecast to be 100.00%.
Analysts have estimated the company’s revenue for the quarter at $36.71 million, with a low estimate of $30.5 million and a high estimate of $40 million. According to the average forecast, sales growth in current quarter could jump up 222.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $209.51 million, representing an increase of 68.30% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that ARDX’s technical picture suggests that short-term indicators denote the stock is a Hold on average. However, medium term indicators have put the stock in the category of 50% Buy while long term indicators on average have been pointing out that it is a 50% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of ARDX currently trading nearly -10.49% and -17.30% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 32.28, while the 7-day volatility ratio is showing 5.15% which for the 30-day chart, stands at 5.12%. Furthermore, Ardelyx Inc (ARDX)’s beta value is 0.83, and its average true range (ATR) is 0.42.
A comparison of Ardelyx Inc (ARDX) with its peers suggests the former has fared considerably weaker in the market. ARDX showed an intraday change of -2.59% in last session, and over the past year, it grew by 51.69%%.
Data on historical trading for Ardelyx Inc (NASDAQ:ARDX) indicates that the trading volumes over the past 10 days have averaged 5.27 million and over the past 3 months, they’ve averaged 6.35 million. According to company’s latest data on outstanding shares, there are 232.45 million shares outstanding.
Nearly 3.87% of Ardelyx Inc’s shares belong to company insiders and institutional investors own 59.58% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 36.31 million shares as on Mar 15, 2024, resulting in a short ratio of 5.93. According to the data, the short interest in Ardelyx Inc (ARDX) stood at 15.60% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 30.06 million. The stock has risen by 15.48% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ARDX stock heading into the next quarter.
