The price of Ardelyx Inc (NASDAQ:ARDX) shares last traded on Wall Street rose 3.28% to $6.61.
ARDX stock price is now -15.01% away from the 50-day moving average and 12.98% away from the 200-day moving average. The market capitalization of the company currently stands at $1.54B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target of $14, Leerink Partners recently initiated with Outperform rating for Ardelyx Inc (NASDAQ: ARDX). On December 18, 2023, Raymond James recently initiated its ‘Strong Buy’ rating on the stock quoting a target price of $12, while ‘H.C. Wainwright’ rates the stock as ‘Buy’
In other news, RAAB MICHAEL, President & CEO sold 30,000 shares of the company’s stock on Apr 29 ’24. The stock was sold for $192,057 at an average price of $6.40. Upon completion of the transaction, the President & CEO now directly owns 1,310,933 shares in the company, valued at $8.67 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 15 ’24, President & CEO RAAB MICHAEL sold 7,500 shares of the business’s stock. A total of $52,924 was realized by selling the stock at an average price of $7.06. This leaves the insider owning 1,310,933 shares of the company worth $8.67 million. A total of 3.86% of the company’s stock is owned by insiders.
During the past 12 months, Ardelyx Inc has had a low of $3.16 and a high of $10.13. As of last week, the company has a debt-to-equity ratio of 0.34, a current ratio of 4.88, and a quick ratio of 4.64.
According to the Biotechnology Company, earnings per share came in at -0.13, missing analysts’ expectations of -0.1 by -0.03. This compares to $0.11 EPS in the same period last year. The net profit margin was -53.08% and return on equity was -49.83% for ARDX. The company reported revenue of $34.36 million for the quarter, compared to $44.18 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -22.22 percent. For the current quarter, analysts expect ARDX to generate $36.4M in revenue.
