A correction may be in store for Ardelyx Inc. (NASDAQ:ARDX) shares?

In the latest session, Ardelyx Inc. (NASDAQ: ARDX) closed at $3.14 up 14.18% from its previous closing price of $2.75. In other words, the price has increased by $+0.3900 from its previous closing price. On the day, 10225241 shares were traded. ARDX stock price reached its highest trading level at $3.2200 during the session, while it also had its lowest trading level at $2.7600.

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For a deeper understanding of Ardelyx Inc.’s stock, let’s take a closer look at its various ratios. For the most recent quarter (mrq), Quick Ratio is recorded 2.30 and its Current Ratio is at 2.30. In the meantime, Its Debt-to-Equity ratio is 0.40 whereas as Long-Term Debt/Eq ratio is at 0.00.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Piper Sandler on November 17, 2022, Upgraded its rating to Overweight and sets its target price to $8 from $3 previously.

On May 06, 2022, Cantor Fitzgerald Downgraded its rating to Neutral which previously was Overweight and also lowered its target price recommendation from $7 to $1.

Ladenburg Thalmann Upgraded its Neutral to Buy on December 01, 2021, while the target price for the stock was maintained at $6.

Insider Transactions:

Additionally, insider trades can be beneficial to investors who want to learn what the management thinks about stock prices in the future. A recent insider transaction in this stock occurred on Nov 22 when GRAMMER ELIZABETH A sold 1,242 shares for $1.95 per share. The transaction valued at 2,421 led to the insider holds 254,868 shares of the business.

RAAB MICHAEL sold 6,219 shares of ARDX for $12,120 on Nov 22. The President & CEO now owns 659,461 shares after completing the transaction at $1.95 per share. On Nov 22, another insider, Williams Laura A, who serves as the Chief Medical Officer of the company, sold 1,241 shares for $1.95 each. As a result, the insider received 2,419 and left with 244,200 shares of the company.

Valuation Measures:

For the stock, the TTM Price-to-Sale (P/S) ratio is 57.28 while its Price-to-Book (P/B) ratio in mrq is 7.85.

Stock Price History:

Over the past 52 weeks, ARDX has reached a high of $3.43, while it has fallen to a 52-week low of $0.49. The 50-Day Moving Average of the stock is 2.1368, while the 200-Day Moving Average is calculated to be 1.2437.

Shares Statistics:

For the past three months, ARDX has traded an average of 10.70M shares per day and 7.6M over the past ten days. A total of 187.46M shares are outstanding, with a floating share count of 182.26M. Insiders hold about 1.80% of the company’s shares, while institutions hold 36.50% stake in the company. Shares short for ARDX as of Oct 13, 2022 were 7.94M with a Short Ratio of 12.37M, compared to 6.89M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 5.14% and a Short% of Float of 5.19%.

Earnings Estimates

There are 7 different market analysts currently analyzing its stock. On average, analysts expect EPS of -$0.17 for the current quarter, with a high estimate of -$0.14 and a low estimate of -$0.19, while EPS last year was -$0.42. The consensus estimate for the next quarter is -$0.13, with high estimates of -$0.09 and low estimates of -$0.18.

Analysts are recommending an EPS of between -$0.6 and -$0.77 for the fiscal current year, implying an average EPS of -$0.69. EPS for the following year is -$0.4, with 7 analysts recommending between $0.03 and -$0.71.

Revenue Estimates

A total of 6 analysts believe the company’s revenue will be $3.92M this quarter.It ranges from a high estimate of $7.92M to a low estimate of $10k. As of the current estimate, Ardelyx Inc.’s year-ago sales were $1.25M, an estimated increase of 213.60% from the year-ago figure. For the next quarter, 6 analysts are estimating revenue of $9.37M, an increase of 810.60% over than the figure of $213.60% in the same quarter last year. There is a high estimate of $17.2M for the next quarter, whereas the lowest estimate is $10k.

A total of 7 analysts have provided revenue estimates for ARDX’s current fiscal year. The highest revenue estimate was $24.48M, while the lowest revenue estimate was $3.01M, resulting in an average revenue estimate of $17.46M. In the same quarter a year ago, actual revenue was $10.1M, up 72.90% from the average estimate. Based on 6 analysts’ estimates, the company’s revenue will be $66.23M in the next fiscal year. The high estimate is $107.75M and the low estimate is $22.7M. The average revenue growth estimate for next year is up 279.30% from the average revenue estimate for this year.