Ardelyx Inc (NASDAQ: ARDX) stock enjoyed a major increase of 28.4% on 5/3/24. The shares closed at $8.72. Moreover, this advance was accompanied by exceptionally high trading volume at 425% of normal. Relative to the market the stock has been exceptionally strong over the last nine months and has risen 38.2% during the last week.
Current PriceTarget Research Rating
With future capital returns forecasted to be in line with the cost of capital, ARDX is expected to continue to be Value Creation neutral.
Ardelyx has a current Value Trend Rating of C (Low Neutral). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Ardelyx has a very low Appreciation Score of 2 but a very high Power Rating of 93, resulting in the Low Neutral Value Trend Rating.
Rating Review
In light of this very positive price change we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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