The stock price of Ardelyx Inc (NASDAQ: ARDX) has dropped by -0.79 compared to previous close of 5.70. Despite this, the company has seen a fall of -3.00% in its stock price over the last five trading days. seekingalpha.com reported 2024-08-05 that Ardelyx’s Q2 2024 revenues increased significantly to $73.2 million from $22.3 million in Q2 2023. SG&A expenses rose to $64.7 million in Q2 2024 due to commercialization efforts for Ibsrela and Xphozah. Despite revenue growth, Ardelyx reported a net loss of $16.5 million in Q2 2024, similar to Q2 2023.
Is It Worth Investing in Ardelyx Inc (NASDAQ: ARDX) Right Now?
The stock has a 36-month beta value of 0.89. Opinions on the stock are mixed, with 2 analysts rating it as a “buy,” 5 as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for ARDX is 226.71M, and at present, short sellers hold a 11.71% of that float. On August 12, 2024, the average trading volume of ARDX was 4.56M shares.
ARDX’s Market Performance
ARDX stock saw a decrease of -3.00% in the past week, with a monthly decline of -3.99% and a quarterly a decrease of -27.22%. The volatility ratio for the week is 8.60%, and the volatility levels for the last 30 days are 6.40% for Ardelyx Inc (ARDX). The simple moving average for the last 20 days is -1.00% for ARDX’s stock, with a simple moving average of -16.44% for the last 200 days.
Analysts’ Opinion of ARDX
Many brokerage firms have already submitted their reports for ARDX stocks, with Piper Sandler repeating the rating for ARDX by listing it as a “Neutral.” The predicted price for ARDX in the upcoming period, according to Piper Sandler is $7 based on the research report published on July 02, 2024 of the current year 2024.
Leerink Partners, on the other hand, stated in their research note that they expect to see ARDX reach a price target of $14. The rating they have provided for ARDX stocks is “Outperform” according to the report published on April 05th, 2024.
Raymond James gave a rating of “Strong Buy” to ARDX, setting the target price at $12 in the report published on December 18th of the previous year.
ARDX Trading at -6.66% 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 -44.18% of loss for the given period.
Volatility was left at 6.40%, however, over the last 30 days, the volatility rate increased by 8.60%, as shares sank -3.87% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -15.63% lower at present.
During the last 5 trading sessions, ARDX fell by -1.89%, which changed the moving average for the period of 200-days by +51.32% in comparison to the 20-day moving average, which settled at $5.70. In addition, Ardelyx Inc saw -8.79% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ARDX starting from MICHAEL G. RAAB, who proposed sale 30,000 shares at the price of $5.64 back on Jul 29 ’24. After this action, MICHAEL G. RAAB now owns shares of Ardelyx Inc, valued at $169,314 using the latest closing price.
RAAB MICHAEL, the President & CEO of Ardelyx Inc, sale 30,000 shares at $5.64 during a trade that took place back on Jul 29 ’24, which means that RAAB MICHAEL is holding 1,260,463 shares at $169,314 based on the most recent closing price.
Stock Fundamentals for ARDX
Current profitability levels for the company are sitting at:
- -0.28 for the present operating margin
- 0.86 for the gross margin
The net margin for Ardelyx Inc stands at -0.31. The total capital return value is set at -0.21. Equity return is now at value -48.23, with -23.49 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 -0.82. The debt to equity ratio resting at 0.71. The interest coverage ratio of the stock is -24.24.
Currently, EBITDA for the company is -55.35 million with net debt to EBITDA at -1.14. When we switch over and look at the enterprise to sales, we see a ratio of 6.68. The receivables turnover for the company is 5.64for trailing twelve months and the total asset turnover is 0.61. The liquidity ratio also appears to be rather interesting for investors as it stands at 4.21.
Conclusion
To sum up, Ardelyx Inc (ARDX) has seen a bad performance recently. Analysts have differing views on the stock, with some seeing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
