In a notable development on Tuesday, December 26th, Justin A. Renz, Chief Financial Officer (CFO) of Ardelyx Inc, a biopharmaceutical company, executed a stock transaction by selling 225,000 shares of the company. The shares were sold at an average price of $6.36 each, resulting in a total transaction value of $1,431,000.00. Following this transaction, Renz now directly owns 182,426 shares in Ardelyx, with an estimated market value of approximately $1,160,229.36. The details of this sale were disclosed in a document filed with the Securities and Exchange Commission (SEC).
Post the disclosure, the stock of Ardelyx Inc experienced a marginal change in its opening price for Friday’s trading session. The stock commenced Friday’s trading session at $6.42, following a Thursday closing at $6.41. Presently, the stock is trading at $6.28, reflecting a decrease of $0.14 (-2.26%) as of 1:18 PM EST. Investors are observing the subtle fluctuations in the stock’s value throughout the day.
Analyzing the company’s financial indicators, Ardelyx Inc. exhibits a debt-to-equity ratio of 0.14, underscoring its financial stability. The current ratio is reported at 5.54, while the quick ratio stands at 5.35, indicating the company’s ability to meet its short-term obligations. The 50-day moving average for Ardelyx’s stock is $4.63, and the two-hundred-day moving average is $4.12. The company boasts a market capitalization of $1.49 billion, with a price-to-earnings (P/E) ratio of -54.33 and a beta of 1.05. Over the past year, the stock has ranged from a low of $2.14 to a high of $6.75.
In its latest earnings release on Tuesday, October 31st, Ardelyx reported earnings per share (EPS) of $0.03 for the quarter, surpassing analysts’ consensus estimates of ($0.11) by $0.14. Despite a negative return on equity of 19.75% and a negative net margin of 19.79%, the company generated revenue of $56.39 million during the quarter, outperforming the consensus estimate of $22.09 million. Analysts project that Ardelyx, Inc. will post -0.3 EPS for the current fiscal year.
Recent research analyst reports on Ardelyx have been optimistic. Raymond James initiated coverage with a “strong-buy” rating and a $12.00 price target on December 18th. HC Wainwright raised their price target from $9.00 to $11.00, maintaining a “buy” rating on Wednesday, November 1st. StockNews.com, in a report on October 5th, offered a “hold” rating for the company. Cantor Fitzgerald reiterated an “overweight” rating on December 18th. Finally, Wedbush reaffirmed an “outperform” rating and assigned a $9.00 price target on December 1st. MarketBeat reports that Ardelyx currently holds an average rating of “Buy,” with a consensus target price of $9.58, based on these analyst assessments.
Source: Marketbeat,com
