ARDELYX Stock Forecast 2023
ARDX Stock Forecast 2023: ARDX Stock Forecast for the next 12 months is $10
Latest Stock Price
ARDX, a biopharmaceutical company was incorporated in 2007 to develop and profit from first-in-class treatment for Chronic Kidney Disease (CKD). Its first approved drug is Ibsrela and is currently developing Xphozah, a novel medication that can control phosphorus in adult patients with CKD that are on dialysis.
ARDELYX Stock Forecast: Fundamental Analysis
Its trailing EPS is -0.85. its price-to-equity ratio is -1.43. the company’s total number of shares outstanding is 187.4 million and its worth is 228.7 million. Ardelyx EPS for the 3rd quarter is -0.14 and for the previous quarter of the same year is -0.19 making its Q-o-Q growth improve by 0.26x. the company’s enterprise value is $138 million which is relatively lower than its peer companies making it an undervalued company with a great scope of growth in the coming future.
ARDELYX Stock Forecast: Latest Video
ARDELYX Stock Forecast: Latest News
- FDA’s approval of Xphozah – Last year in July, FDA rejected Ardelyx application for xphozah. FDA said ‘the magnitude of treatment effect appears less effective than that with approved drugs.’ However, the company applied for approval again and was reviewed by FDA yesterday. The outcome turned out to be favorable for the company. It shall soon produce Xphozah which controls serum phosphorus which is in general elevated in patients being treated for CKD. This abnormality is estimated to be found in 7,45,000 dialysis patients in major developed countries.
- Incentives for 3 new non-executives – the compensation committee has granted employees options to purchase an aggregate of 12907 shares of the company and 31875 restricted stock units. The stock option has an exercise price per share of $1.4. This measure shall encourage employees to work for shareholders’ interest since their motives are adequately aligned with theirs.
ARDELYX Stock Forecast: Price Prediction for the next 12 months
| Average ARDELYX Stock Forecast for the next 12 Months | $10 |
| Citigroup | $10 |
ARDELYX Stock Forecast: Q3 Results
- Revenue increased to $4.9 million versus in Q2 $2.5 which is a 0.96x increase on a Q-o-Q growth basis.
- Sales to AmerisourceBergen Drug Corporation, Cardinal Health, and McKesson Corporation made up 26.4%, 25.2%, and 20.2% of Ardelyx gross product revenue in this quarter. It is entitled to receive $55 million from KKC as a license fee, out of which $10 million is recognized as revenue for the 3rd quarter.
- The company improved its net loss to $22.8 million versus a net loss of $26.9 million in the previous quarter of the same year. This is an improvement of 0.15x on a Q-o-Q basis.
- Cash and cash equivalents as of the 3rd quarter are $90.6 million.
ARDELYX Stock Forecast: Why is the stock price falling continuously?
This month, the stock has fallen by 17.5%. it seems to follow a negative trajectory considering the uncertainty of approval from the FDA for its 2nd drug. The company also struggles to keep itself afloat as liquidity concern prevails. It has been incurring a net loss since its inception. On contrary, it’s the first drug that was approved by FDA in 2019. Meaning, it has only recently started to grow. Its p/e valuations are cheap too. Hence, with 2 medications approved and 1 being actively supplied to the market, there is a huge scope for profits in the future.
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