Ardelyx Inc (NASDAQ: ARDX)’s stock price has increased by 4.93 compared to its previous closing price of 8.72. However, the company has seen a 41.64% increase in its stock price over the last five trading sessions. Seeking Alpha reported 2024-05-02 that Ardelyx, Inc. (NASDAQ:ARDX ) Q1 2024 Earnings Conference Call May 2, 2024 4:30 PM ET Company Participants Caitlin Lowie – Vice President of Corporate Communications & Investor Relations Mike Raab – President & Chief Executive Officer Susan Rodriguez – Chief Commercial Officer Justin Renz – Chief Financial Officer & Chief Operations Officer Conference Call Participants Chris Raymond – Piper Sandler Yigal Nochomovitz – Citi Louise Chen – Cantor Fitzgerald Ryan Deschner – Raymond James Dennis Ding – Jefferies Roanna Ruiz – Leerink Partners Laura Chico – Wedbush Joseph Thome – TD Cowen Thomas Yip – H.C. Wainwright Matt Kaplan – Ladenburg Thalmann Operator Good day and welcome to the Ardelyx First Quarter 2024 Earnings Call.
Is It Worth Investing in Ardelyx Inc (NASDAQ: ARDX) Right Now?
ARDX has 36-month beta value of 0.79. Analysts have mixed views on the stock, with 2 analysts rating it as a “buy,” 5 as “overweight,” 0 as “hold,” and 0 as “sell.”
The public float for ARDX is 224.94M, and currently, short sellers hold a 15.08% ratio of that float. The average trading volume of ARDX on May 07, 2024 was 5.89M shares.
ARDX’s Market Performance
ARDX’s stock has seen a 41.64% increase for the week, with a 22.00% rise in the past month and a 2.12% gain in the past quarter. The volatility ratio for the week is 8.32%, and the volatility levels for the past 30 days are at 5.66% for Ardelyx Inc The simple moving average for the past 20 days is 34.49% for ARDX’s stock, with a 54.86% simple moving average for the past 200 days.
Analysts’ Opinion of ARDX
Many brokerage firms have already submitted their reports for ARDX stocks, with Leerink Partners repeating the rating for ARDX by listing it as a “Outperform.” The predicted price for ARDX in the upcoming period, according to Leerink Partners is $14 based on the research report published on April 05, 2024 of the current year 2024.
Raymond James, on the other hand, stated in their research note that they expect to see ARDX reach a price target of $12. The rating they have provided for ARDX stocks is “Strong Buy” according to the report published on December 18th, 2023.
H.C. Wainwright gave a rating of “Buy” to ARDX, setting the target price at $9 in the report published on September 07th of the previous year.
ARDX Trading at 18.80% 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 -9.67% of loss for the given period.
Volatility was left at 5.66%, however, over the last 30 days, the volatility rate increased by 8.32%, as shares surge +25.00% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +5.41% upper at present.
During the last 5 trading sessions, ARDX rose by +41.64%, which changed the moving average for the period of 200-days by +167.54% in comparison to the 20-day moving average, which settled at $6.89. In addition, Ardelyx Inc saw 47.58% 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 30,000 shares at the price of $6.40 back on Apr 29 ’24. After this action, RAAB MICHAEL now owns 1,310,933 shares of Ardelyx Inc, valued at $192,057 using the latest closing price.
RAAB MICHAEL, the President & CEO of Ardelyx Inc, sale 7,500 shares at $7.06 during a trade that took place back on Apr 15 ’24, which means that RAAB MICHAEL is holding 1,310,933 shares at $52,924 based on the most recent closing price.
Stock Fundamentals for ARDX
Current profitability levels for the company are sitting at:
- -0.39 for the present operating margin
- 0.85 for the gross margin
The net margin for Ardelyx Inc stands at -0.41. The total capital return value is set at -0.22. Equity return is now at value -47.64, with -23.53 for asset returns.
Based on Ardelyx Inc (ARDX), the company’s capital structure generated 0.41 points at debt to capital in total, while cash flow to debt ratio is standing at -0.77. The debt to equity ratio resting at 0.69. The interest coverage ratio of the stock is -44.69.
Currently, EBITDA for the company is -55.35 million with net debt to EBITDA at -1.22. When we switch over and look at the enterprise to sales, we see a ratio of 13.89. The receivables turnover for the company is 5.65for trailing twelve months and the total asset turnover is 0.46. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.53.
Conclusion
To put it simply, Ardelyx Inc (ARDX) has had a better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
