In yesterday’s Wall Street session, Ardelyx Inc (NASDAQ:ARDX) shares traded at $6.74, down -5.47% from the previous session.
ARDX stock price is now -7.09% away from the 50-day moving average and 6.42% 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, Rosenbaum David P., Chief Development Officer sold 17,872 shares of the company’s stock on Jun 03 ’24. The stock was sold for $125,104 at an average price of $7.00. Upon completion of the transaction, the Chief Development Officer now directly owns 158,502 shares in the company, valued at $1.07 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 29 ’24, President & CEO RAAB MICHAEL sold 7,500 shares of the business’s stock. A total of $50,390 was realized by selling the stock at an average price of $6.72. This leaves the insider owning 1,270,273 shares of the company worth $8.56 million. A total of 3.75% 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 $7.2408 and a two-hundred day moving average price translates $6.349075 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.
