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Ardelyx (ARDX) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Ardelyx (ARDX - Free Report) closed at $3.02, marking a -1.63% move from the previous day. This change lagged the S&P 500's 0.28% gain on the day. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq gained 3.77%.
Prior to today's trading, shares of the biotechnology company had lost 7.25% over the past month. This has lagged the Medical sector's loss of 1.38% and the S&P 500's gain of 3.54% in that time.
Wall Street will be looking for positivity from Ardelyx as it approaches its next earnings report date. In that report, analysts expect Ardelyx to post earnings of $0.01 per share. This would mark year-over-year growth of 103.23%. Our most recent consensus estimate is calling for quarterly revenue of $27.71 million, up 2589.9% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Ardelyx. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 is currently sporting a Zacks Rank of #2 (Buy).
The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% 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.
To follow ARDX in the coming trading sessions, be sure to utilize Zacks.com.
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Ardelyx (ARDX) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Ardelyx (ARDX - Free Report) closed at $3.02, marking a -1.63% move from the previous day. This change lagged the S&P 500's 0.28% gain on the day. At the same time, the Dow added 0.11%, and the tech-heavy Nasdaq gained 3.77%.
Prior to today's trading, shares of the biotechnology company had lost 7.25% over the past month. This has lagged the Medical sector's loss of 1.38% and the S&P 500's gain of 3.54% in that time.
Wall Street will be looking for positivity from Ardelyx as it approaches its next earnings report date. In that report, analysts expect Ardelyx to post earnings of $0.01 per share. This would mark year-over-year growth of 103.23%. Our most recent consensus estimate is calling for quarterly revenue of $27.71 million, up 2589.9% from the year-ago period.
It is also important to note the recent changes to analyst estimates for Ardelyx. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 is currently sporting a Zacks Rank of #2 (Buy).
The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 103, putting it in the top 41% 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.
To follow ARDX in the coming trading sessions, be sure to utilize Zacks.com.