While Ardelyx Inc has overperformed by 0.17%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ARDX rose by 50.13%, with highs and lows ranging from $10.13 to $3.16, whereas the simple moving average fell by -15.94% in the last 200 days.
On July 02, 2024, Piper Sandler Downgraded Ardelyx Inc (NASDAQ: ARDX) to Neutral. A report published by Leerink Partners on April 05, 2024, Initiated its previous ‘Outperform’ rating for ARDX. Raymond James also rated ARDX shares as ‘Strong Buy’, setting a target price of $12 on the company’s shares in an initiating report dated December 18, 2023. H.C. Wainwright Initiated an Buy rating on September 07, 2023, and assigned a price target of $9. Cantor Fitzgerald August 25, 2023d its ‘Neutral’ rating to ‘Overweight’ for ARDX, as published in its report on August 25, 2023. Wedbush’s report from March 03, 2023 suggests a price prediction of $6 for ARDX shares, giving the stock a ‘Outperform’ rating. Piper Sandler also rated the stock as ‘Overweight’.
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Analysis of Ardelyx Inc (ARDX)
Further, the quarter-over-quarter increase in sales is 227.86%, showing a positive trend in the upcoming months.
Ardelyx Inc’s future performance can be determined with the help of several well-rounded types of analysis and research techniques, with equity being one of the most influential. The goal here is to ensure that your current return on equity of -48.23% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 3.99, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
The average volume for any stock is also a very valuable indicator of volatility, and ARDX has an average volume of 4.07M. On a monthly basis, the volatility of the stock is set at 4.57%, whereas on a weekly basis, it is put at 5.22%, with a loss of -3.58% over the past seven days. Furthermore, long-term investors anticipate a median target price of $11.28, showing growth from the present price of $5.93, which can serve as yet another indication of whether ARDX is worth investing in or should be passed over.
How Do You Analyze Ardelyx Inc Shares?
In addition to analyzing the fundamentals, it is also important to look at how many company employees own stock. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 3.71%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 62.18% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
ARDX shares are owned by institutional investors to the tune of 62.18% at present.
