Ardelyx Inc (NASDAQ: ARDX) has reported a loss for its first fiscal quarter (ending March 31) of $-0.11 versus a loss $-0.13 for the same period a year ago. This result fell short of the consensus estimate of $-0.04 by $-0.07. E.P.S. were $-0.28 for the latest four quarters through March 31 versus $-0.40 for the same period a year ago.
Recent Price Action
Ardelyx Inc (NASDAQ: ARDX) stock enjoyed a large increase of 2.7% on 5/2/24. The stock closed at $6.79. Moreover, above average trading volume at 123% of normal accompanied the advance. Relative to the market the stock has been exceptionally strong over the last nine months and has risen 5.6% during the last week.
Current PriceTarget Research Rating
ARDX is expected to continue to be Value Creation neutral reflecting capital returns that are forecasted to be in line with the cost of capital.
Ardelyx has a current Value Trend Rating of C (Low Neutral). This rating combines very contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Ardelyx has a very low Appreciation Score of 3 but a very high Power Rating of 94, with the Low Neutral Value Trend Rating the result.
Rating Review
In light of this new information and positive market action we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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