While Ardelyx Inc has overperformed by 6.08%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ARDX rose by 151.05%, with highs and lows ranging from $10.13 to $3.16, whereas the simple moving average jumped by 88.92% 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.
There are several well-rounded types of analysis and research techniques that can be used to gain a clear view of Ardelyx Inc’s future performance, with equity being one of the most critical indicators. 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.
As an indicator of volatility for any stock, average volume can also be very valuable, and ARDX is recording an average volume of 6.62M. On a monthly basis, the volatility of the stock is set at 5.94%, whereas on a weekly basis, it is put at 6.59%, with a loss of -0.83% over the past seven days. Furthermore, long-term investors anticipate a median target price of $13.31, showing growth from the present price of $9.59, 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?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. 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 3.84%. 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 59.49% 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 59.49% at present.
