Ardelyx Inc (NASDAQ:ARDX) shares traded -4.52% lower at $5.49 on Wall Street last session.
ARDX stock price is now -19.22% away from the 50-day moving average and -16.89% away from the 200-day moving average. The market capitalization of the company currently stands at $1.28B.
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With the price target reduced from $15 to $7, Piper Sandler Downgraded its rating from Overweight to Neutral for Ardelyx Inc (NASDAQ: ARDX). On April 05, 2024, Leerink Partners recently initiated its ‘Outperform’ rating on the stock quoting a target price of $14, while ‘Raymond James’ rates the stock as ‘Strong Buy’
In other news, RAAB MICHAEL, President & CEO sold 7,500 shares of the company’s stock on Jul 15 ’24. The stock was sold for $44,768 at an average price of $5.97. Upon completion of the transaction, the President & CEO now directly owns 1,260,463 shares in the company, valued at $6.92 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 28 ’24, President & CEO RAAB MICHAEL sold 2,310 shares of the business’s stock. A total of $15,223 was realized by selling the stock at an average price of $6.59. This leaves the insider owning 1,267,963 shares of the company worth $6.96 million. A total of 3.71% 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 $6.7228 and a two-hundred day moving average price translates $6.612675 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.
