While Ardelyx Inc has overperformed by 7.03%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ARDX rose by 202.61%, with highs and lows ranging from $10.13 to $2.82, whereas the simple moving average jumped by 88.60% in the last 200 days.
On December 18, 2023, Raymond James started tracking Ardelyx Inc (NASDAQ: ARDX) recommending Strong Buy. A report published by H.C. Wainwright on September 07, 2023, Initiated its previous ‘Buy’ rating for ARDX. Cantor Fitzgerald also Upgraded ARDX shares as ‘Overweight’, setting a target price of $10 on the company’s shares in a report dated August 25, 2023. Wedbush March 03, 2023d the rating to Outperform on March 03, 2023, and set its price target from $3 to $6. Piper Sandler November 17, 2022d its ‘Neutral’ rating to ‘Overweight’ for ARDX, as published in its report on November 17, 2022. Cantor Fitzgerald’s report from May 06, 2022 suggests a price prediction of $1 for ARDX shares, giving the stock a ‘Neutral’ rating. Ladenburg Thalmann also rated the stock as ‘Buy’.
Analysis of Ardelyx Inc (ARDX)
Further, the quarter-over-quarter decrease in sales is -22.22%, showing a negative trend in the upcoming months.
In order to gain a clear picture of Ardelyx Inc’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -49.83% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 4.64, 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.
An average volume of 6.42M can be a very valuable indicator of volatility for ARDX stock. On a monthly basis, the volatility of the stock is set at 5.78%, whereas on a weekly basis, it is put at 7.23%, with a gain of 2.77% over the past seven days. Furthermore, long-term investors anticipate a median target price of $13.31, showing growth from the present price of $9.29, 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 the fundamentals, you should also consider how many employees own shares in the company. 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 3.85%. 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 59.50% 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 59.50% at present.
