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Ardelyx (ARDX) Outpaces Stock Market Gains: What You Should Know
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Ardelyx (ARDX - Free Report) closed the most recent trading day at $3.07, moving +1.99% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.47%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq gained 7.94%.
Heading into today, shares of the biotechnology company had gained 7.12% over the past month, outpacing the Medical sector's loss of 0.48% and lagging the S&P 500's gain of 7.41% in that time.
Investors will be hoping for strength from Ardelyx as it approaches its next earnings release. In that report, analysts expect Ardelyx to post earnings of $0.01 per share. This would mark year-over-year growth of 103.23%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $27.71 million, up 2589.9% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Ardelyx. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Ardelyx currently has a Zacks Rank of #2 (Buy).
The Medical - Drugs industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Ardelyx (ARDX) Outpaces Stock Market Gains: What You Should Know
Ardelyx (ARDX - Free Report) closed the most recent trading day at $3.07, moving +1.99% from the previous trading session. This move outpaced the S&P 500's daily gain of 1.47%. At the same time, the Dow lost 0.11%, and the tech-heavy Nasdaq gained 7.94%.
Heading into today, shares of the biotechnology company had gained 7.12% over the past month, outpacing the Medical sector's loss of 0.48% and lagging the S&P 500's gain of 7.41% in that time.
Investors will be hoping for strength from Ardelyx as it approaches its next earnings release. In that report, analysts expect Ardelyx to post earnings of $0.01 per share. This would mark year-over-year growth of 103.23%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $27.71 million, up 2589.9% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Ardelyx. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Ardelyx currently has a Zacks Rank of #2 (Buy).
The Medical - Drugs industry is part of the Medical sector. This industry currently has a Zacks Industry Rank of 97, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.