Ardelyx Inc. (NASDAQ: ARDX)’s stock price has increased by 1.00 compared to its previous closing price of 3.99. However, the company has seen a 5.50% increase in its stock price over the last five trading sessions. Barron’s reported on 11/17/22 that Ardelyx Skyrockets. Its Kidney Disease Drug Is a Step Closer to FDA Approval.
Is It Worth Investing in Ardelyx Inc. (NASDAQ: ARDX) Right Now?
Moreover, the 36-month beta value for ARDX is 1.04. Analysts have varying opinions on the stock, with 6 analysts rating it as a “buy,” 0 as “overweight,” 1 as “hold,” and 0 as “sell.”
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The average price recommended by analysts for Ardelyx Inc. (ARDX) is $6.58, which is $2.32 above the current market price. The public float for ARDX is 184.91M and currently, short sellers hold a 5.95% of that float. On March 17, 2023, ARDX’s average trading volume was 8.00M shares.
ARDX’s Market Performance
ARDX’s stock has seen a 5.50% increase for the week, with a 31.27% rise in the past month and a 103.54% gain in the past quarter. The volatility ratio for the week is 7.42%, and the volatility levels for the past 30 days are at 6.47% for Ardelyx Inc. The simple moving average for the last 20 days is 19.73% for ARDX stock, with a simple moving average of 137.85% for the last 200 days.
Analysts’ Opinion of ARDX
Many brokerage firms have already submitted their reports for ARDX stocks, with Wedbush repeating the rating for ARDX by listing it as a “Outperform.” The predicted price for ARDX in the upcoming period, according to Wedbush is $6 based on the research report published on March 03rd of the current year 2023.
Piper Sandler, on the other hand, stated in their research note that they expect to see ARDX reach a price target of $8, previously predicting the price at $3. The rating they have provided for ARDX stocks is “Overweight” according to the report published on November 17th, 2022.
Cantor Fitzgerald gave a rating of “Neutral” to ARDX, setting the target price at $1 in the report published on May 06th of the previous year.
ARDX Trading at 27.19% from the 50-Day Moving Average
After a stumble in the market that brought ARDX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -3.12% of loss for the given period.
Volatility was left at 6.47%, however, over the last 30 days, the volatility rate increased by 7.42%, as shares surge +33.44% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +50.37% upper at present.
During the last 5 trading sessions, ARDX rose by +5.50%, which changed the moving average for the period of 200-days by +555.18% in comparison to the 20-day moving average, which settled at $3.42. In addition, Ardelyx Inc. saw 41.40% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ARDX starting from RAAB MICHAEL, who sale 13,449 shares at the price of $3.00 back on Feb 21. After this action, RAAB MICHAEL now owns 896,012 shares of Ardelyx Inc., valued at $40,360 using the latest closing price.
Rodriguez Susan, the Chief Commercial Officer of Ardelyx Inc., sale 5,586 shares at $3.00 during a trade that took place back on Feb 21, which means that Rodriguez Susan is holding 355,131 shares at $16,764 based on the most recent closing price.
Stock Fundamentals for ARDX
Current profitability levels for the company are sitting at:
- -122.24 for the present operating margin
- +83.29 for the gross margin
The net margin for Ardelyx Inc. stands at -128.85. Equity return is now at value -95.20, with -45.10 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 2.34.
Conclusion
To wrap up, the performance of Ardelyx Inc. (ARDX) has been better in recent times. The stock has received a bullish of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
