Stocks of Ardelyx Inc (NASDAQ:ARDX) traded higher last session on Wall Street, down -5.02% to $6.05.
ARDX stock price is now 2.12% away from the 50-day moving average and -11.75% away from the 200-day moving average. The market capitalization of the company currently stands at $1.42B.
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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, Williams Laura A, Chief Medical Officer sold 7,412 shares of the company’s stock on Aug 20 ’24. The stock was sold for $43,437 at an average price of $5.86. Upon completion of the transaction, the Chief Medical Officer now directly owns 314,740 shares in the company, valued at $1.9 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 20 ’24, Chief Development Officer Rosenbaum David P. sold 4,969 shares of the business’s stock. A total of $29,120 was realized by selling the stock at an average price of $5.86. This leaves the insider owning 351,510 shares of the company worth $2.13 million. A total of 3.79% 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 0.71, a current ratio of 4.21, and a quick ratio of 3.99. The fifty day moving average price for ARDX is $5.913 and a two-hundred day moving average price translates $6.86565 for the stock.
The latest earnings results from Ardelyx Inc (NASDAQ: ARDX) was released for 2024-06-30. The net profit margin was -31.02% and return on equity was -48.23% for ARDX. The company reported revenue of $73.22 million for the quarter, compared to $22.33 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 227.86 percent.
