Ardelyx, Inc. (NASDAQ:ARDX) Sees Price Swing - Up by 45.83%

Cornelia Mascio
Ottobre 13, 2017

(NASDAQ:ARDX) shares saw heavy trading volume with 989K shares changing hands in the last trading session.

Ardelyx Inc (NASDAQ:ARDX) shares jumped over 40% today, after the drug maker reported positive phase 3 trial for its constipation-predominant irritable bowel syndrome (IBS-c) drug tenapanor, setting up regulatory filings next year. This move in share price qualifies the stock as one of the day's most volatile. The firm had a fall in short interest from August 31, 2017 to September 15, 2017 of -1.89%. The 50 day moving average was up $2.43 and the 200 day average moved up $0.84. Its book value per share for the most recent quarter is $3.06 while its price to book ratio for the same period is 1.76, as for as the company's cash per share for the most recent quarter is $3.06, however its price to cash per share ratio for the same period is 1.77. Marshall Wace North America L.p. now owns 807,246 shares valued at $4,036,000. For the quarter, shares are performing at -28.20%.

As of the end of the quarter Crestline Management, Lp had bought 154,827 shares growing its position 272.1%.

Ardelyx Inc
Ardelyx, Inc. (NASDAQ:ARDX) Sees Price Swing - Up by 45.83%

According to analysts Ardelyx Inc Cmn (NASDAQ:ARDX)'s minimum EPS for the current quarter is at $-0.56 and can go high up to $-0.5. The company's beta value is at 0.24.

On October 12 Cantor Fitzgerald held the company rating at "Overweight" but lowered the price target to $14.00 from $19.00. The consensus mean EPS for the current quarter is at $-0.54 derived from a total of 6 estimates from the analysts who have weighed in on projected earnings.

As of the latest earnings report the EPS was $-2.44 and is projected to be $-2.19 for the current year with 47,445,000 shares now outstanding. The Company's therapeutics focuses on addressing cardiorenal and gastrointestinal (GI) diseases. The Company's products line includes cardiorenal portfolio and gastrointestinal portfolio. The cardiorenal portfolio includes tenapanor, RDX7675, RDX013 and RDX011. The gastrointestinal portfolio includes tenapanor, RDX8940, RDX011 and RDX023.

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