Does Ardelyx, Inc. (ARDX) Have Any Gas After Forming This Multiple Bottom Chart Pattern?

September 16, 2018 - By Palma Niemeyer

Ardelyx, Inc. (NASDAQ:ARDX) Logo

The stock of Ardelyx, Inc. (ARDX) shows a multiple bottoms pattern with $3.57 target or 6.00 % below today’s $3.80 share price. The 5 months chart pattern indicates high risk for the $235.80M company. It was reported on Sep, 16 by Finviz.com. If the $3.57 price target is reached, the company will be worth $14.15 million less.
Multiple bottoms are very good trading chart patterns. These patterns have a low break even failure rate and decent average rise in a bull market, giving them a solid performance rank. Back-tests of such patterns show that the break even failure rate is 4%, the average rise: 37%, the throwback rate: 64% and the percentage of stocks meeting their price targets: 64%.

It closed at $3.8 lastly. It is up 28.97% since September 16, 2017 and is downtrending. It has underperformed by 44.59% the S&P500.

Analysts await Ardelyx, Inc. (NASDAQ:ARDX) to report earnings on November, 6. They expect $-0.38 earnings per share, up 13.64 % or $0.06 from last year’s $-0.44 per share. After $-0.42 actual earnings per share reported by Ardelyx, Inc. for the previous quarter, Wall Street now forecasts -9.52 % EPS growth.

Ardelyx, Inc. (NASDAQ:ARDX) Ratings Coverage

Among 2 analysts covering Ardelyx (NASDAQ:ARDX), 2 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Ardelyx has $11 highest and $7 lowest target. $9’s average target is 136.84% above currents $3.8 stock price. Ardelyx had 2 analyst reports since August 9, 2018 according to SRatingsIntel. The stock of Ardelyx, Inc. (NASDAQ:ARDX) earned “Buy” rating by Citigroup on Thursday, August 9.

More news for Ardelyx, Inc. (NASDAQ:ARDX) were recently published by: Streetinsider.com, which released: “Ardelyx (ARDX) Submits NDA for US Marketing Authorization of Tenapanor for IBS-C to FDA” on September 13, 2018. 247Wallst.com‘s article titled: “5 Analyst Stock Picks Under $10 Given Massive Upside Targets” and published on August 25, 2018 is yet another important article.

Ardelyx, Inc. develops and sells therapeutics for the treatment of cardio renal and gastrointestinal diseases in the United States. The company has market cap of $235.80 million. The Company’s lead product candidate is tenapanor, which is in Phase III clinical trial for the treatment of patients with irritable bowel syndrome with constipation, as well as in Phase III clinical trial for the treatment of hyperphosphatemia in end-stage renal disease patients on dialysis. It currently has negative earnings. The firm is also developing RDX7675, which is in Phase III clinical trial for the treatment of people with hyperkalemia; and RDX8940 in Phase I clinical trial for the treatment of patients with NASH and other gastrointestinal indications.

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