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Ardelyx (ARDX) Gains As Market Dips: What You Should Know
Ardelyx (ARDX - Free Report) closed the most recent trading day at $4.05, moving +0.5% from the previous trading session. The stock outpaced the S&P 500's daily loss of 1.1%. At the same time, the Dow lost 1.19%, and the tech-heavy Nasdaq lost 3.27%.
Heading into today, shares of the biotechnology company had gained 33.89% over the past month, outpacing the Medical sector's loss of 2.4% and the S&P 500's loss of 3.02% in that time.
Ardelyx will be looking to display strength as it nears its next earnings release. In that report, analysts expect Ardelyx to post earnings of -$0.10 per share. This would mark year-over-year growth of 52.38%. Meanwhile, our latest consensus estimate is calling for revenue of $10.08 million, up 2043.83% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of -$0.27 per share and revenue of $68.02 million, which would represent changes of +35.71% and +30.42%, respectively, from the prior year.
Investors might also notice 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 27.73% higher. Ardelyx is holding a Zacks Rank of #3 (Hold) right now.
The Medical - Drugs industry is part of the Medical sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.