In yesterday’s Wall Street session, Ardelyx Inc (NASDAQ:ARDX) shares traded at $4.92, up 2.71% from the previous session.
ARDX stock price is now -16.34% away from the 50-day moving average and -26.91% away from the 200-day moving average. The market capitalization of the company currently stands at $1.17B.
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With the price target reduced from $11 to $5.50, H.C. Wainwright Downgraded its rating from Buy to Neutral for Ardelyx Inc (NASDAQ: ARDX). On July 02, 2024, Piper Sandler Downgraded its previous ‘Overweight’ rating to ‘Neutral’ on the stock reducing its target price from $15 to quote $7, while ‘Leerink Partners’ rates the stock as ‘Outperform’
In other news, MOTT DAVID M, Director bought 215,868 shares of the company’s stock on Nov 13 ’24. The stock was bought for $996,598 at an average price of $4.62. Upon completion of the transaction, the Director now directly owns 1,425,465 shares in the company, valued at $7.01 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 11 ’24, President & CEO RAAB MICHAEL sold 2,743 shares of the business’s stock. A total of $13,441 was realized by selling the stock at an average price of $4.90. This leaves the insider owning 1,207,365 shares of the company worth $5.94 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 $4.06 and a high of $10.13. As of last week, the company has a debt-to-equity ratio of 0.66, a current ratio of 4.03, and a quick ratio of 3.87. The fifty day moving average price for ARDX is $5.9015 and a two-hundred day moving average price translates $6.752225 for the stock.
The latest earnings results from Ardelyx Inc (NASDAQ: ARDX) was released for 2024-09-30. The net profit margin was -28.82% and return on equity was -41.54% for ARDX. The company reported revenue of $98.24 million for the quarter, compared to $56.39 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 74.21 percent.
