While Ardelyx Inc has overperformed by 0.46%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ARDX rose by 36.19%, with highs and lows ranging from $10.13 to $3.16, whereas the simple moving average jumped by 13.29% in the last 200 days.
On April 05, 2024, Leerink Partners started tracking Ardelyx Inc (NASDAQ: ARDX) recommending Outperform. A report published by Raymond James on December 18, 2023, Initiated its previous ‘Strong Buy’ rating for ARDX. H.C. Wainwright also rated ARDX shares as ‘Buy’, setting a target price of $9 on the company’s shares in an initiating report dated September 07, 2023. Cantor Fitzgerald August 25, 2023d the rating to Overweight on August 25, 2023, and set its price target from $5 to $10. Wedbush March 03, 2023d its ‘Neutral’ rating to ‘Outperform’ for ARDX, as published in its report on March 03, 2023. Piper Sandler’s report from November 17, 2022 suggests a price prediction of $8 for ARDX shares, giving the stock a ‘Overweight’ rating. Cantor Fitzgerald also rated the stock as ‘Neutral’.
Analysis of Ardelyx Inc (ARDX)
Further, the quarter-over-quarter decrease in sales is -22.22%, showing a negative 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 -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.
The average volume for any stock is also a very valuable indicator of volatility, and ARDX has an average volume of 5.54M. On a monthly basis, the volatility of the stock is set at 5.17%, whereas on a weekly basis, it is put at 3.97%, with a loss of -4.26% over the past seven days. Furthermore, long-term investors anticipate a median target price of $13.44, showing growth from the present price of $6.51, 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 3.86%. 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 59.65% 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 59.65% at present.
