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Ardelyx, Inc. (NASDAQ:ARDX) shares are moving Friday after the company reported its fourth-quarter financial results after the bell Thursday. Here's a look at what to know.
What To Know:
Ardelyx reported quarterly losses of 12 cents per share, missing the analyst consensus estimate of losses of 10 cents per share by 20%.
The company reported quarterly sales of $34.36 million, beating the analyst consensus estimate of $34.23 million and representing a 22.22% decrease over sales of $44.18 million from the same period last year.
Ardelyx reported ending 2023 with $184.3 million in cash and investments and expects full-year 2024 U.S. net product sales revenue for Ibsrela to be between $140 million and $150 million.
Wedbush analyst Laura Chico reiterated Ardelyx with an Outperform rating and maintained a $13 price target following the print.
Ardelyx shares are moving on above-average trading volume following the company's mixed earnings report. According to data from Benzinga Pro, more than 7.36 million shares have been traded in the session, compared to the stock’s 100-day average of 6.272 million shares.
Related News: Booking Reports Q4 Results: Earning Beat, Revenues Beat, Initiates Dividend
Predicting the future in stock prices over long periods of time is challenging. Wall Street analysts use complex models that take into account interest rates, economic growth, competitive advantages, management teams and historical profitability, among a host of other factors.
If, as an investor, you want to assume most of the major factors remain stable, you can use trend analysis as a helpful tool. Using a longer term trend line or historical performance of the stock, you can aim to forecast a stock's annual rate of return.
For Ardelyx, over the past 5 years, it's annualized stock performance is 27.67%, and if you assume that trend continues for another 5 years, you can expect a stock to trade at $30.36.
Using a trend line (see how to perform this function here), If you choose to use a trend line, connect your two points and look into the future to the point in time in which you're curious. Once you've identified that stock price, you may want to consider what type of conditions would need to exist for the stock to justify the share price – be it an outside influence or managerial decision making.
ARDX Price Action: According to Benzinga Pro, Ardelyx shares mostly flat at $8.80 at the time of publication.
Image: PublicDomainPictures from Pixabay
Posted In: ARDX
