In yesterday’s Wall Street session, Ardelyx Inc (NASDAQ:ARDX) shares traded at $6.75, down -9.27% from the previous session.
ARDX stock price is now -9.01% away from the 50-day moving average and 8.65% away from the 200-day moving average. The market capitalization of the company currently stands at $1.58B.
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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 31,484 shares of the company’s stock on May 21 ’24. The stock was sold for $245,922 at an average price of $7.81. Upon completion of the transaction, the President & CEO now directly owns 1,277,773 shares in the company, valued at $8.62 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 21 ’24, GRAMMER ELIZABETH A sold 6,927 shares of the business’s stock. A total of $54,107 was realized by selling the stock at an average price of $7.81. This leaves the insider owning 199,469 shares of the company worth $1.35 million. A total of 3.78% 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 0.70, a current ratio of 4.53, and a quick ratio of 4.36. The fifty day moving average price for ARDX is $7.3928 and a two-hundred day moving average price translates $6.226475 for the stock.
The latest earnings results from Ardelyx Inc (NASDAQ: ARDX) was released for 2024-03-31. The net profit margin was -41.36% and return on equity was -47.64% for ARDX. The company reported revenue of $46.02 million for the quarter, compared to $11.37 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 304.81 percent.
