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Why Shares of Ardelyx Were Down Wednesday The Motley Fool

Since 1988 it has more than doubled the S&P 500 with an average gain of +24.17% per year. These returns cover a period from January 1, 1988 through September 4, 2023. Zacks Rank stock-rating system returns are computed monthly based on the fxpcm beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return.

  • This confidence in the drug’s potential, combined with the expectation of a 112.8% return on share price, led Nochomovitz to rate Ardelyx’s stock with a Buy.
  • By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions.
  • There’s also a VGM Score (‘V’ for Value, ‘G’ for Growth and ‘M’ for Momentum), which combines the weighted average of the individual style scores into one score.
  • However, the 137% one-year return to shareholders may have helped lessen their pain.

The company said it would launch the drug in the fourth quarter, pending approval. Ardelyx also has a pipeline candidate, RDX013, that is in phase 2 trials to lower potassium levels to treat CKD. Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions.Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use, please see disclaimer.

Novo’s news also hurt several kidney dialysis provider stocks as well. The company was founded in 2007 and is based in Fremont, California. The definition of company insiders can be subjective and does vary between jurisdictions. Our data reflects individual insiders, capturing board members at the very least.

The company was founded by Dominique Charmot, Peter G. Schultz, and Jean M. Frechet on October 17, 2007 and is headquartered in Waltham, MA. Ardelyx focuses on small molecules to treat diseases with significant unmet medical needs. The company’s only approved drug is Isbrela (tenapanor), approved to treat irritable bowel syndrome (IBS) with constipation. However, the company is looking to add indications to tenapanor. A different version of the drug, called Xphozah, is looking to be approved to control serum phosphate levels in adults with CKD on dialysis or those who have had a poor response or intolerance to phosphate binder therapy. Xphozah has a Prescription Drug User Fee Act (PDUFA) date of Oct. 17 for Food and Drug Administration (FDA) approval.

Hibbett, American Software, Ardelyx And Other Big Stocks Moving Higher On Friday

Ardelyx, Inc., a biopharmaceutical company, discovers, develops, and commercializes medicines to treat gastrointestinal and cardiorenal therapeutic areas in the United States and internationally. The company’s lead product candidate is tenapanor for the treatment of patients with irritable bowel syndrome with constipation. key factors to choose the best forex broker The company has agreements with Kyowa Kirin, Fosun Pharmaceutical Industrial Development Co. Ltd., and Knight Therapeutics, Inc. for the development and commercialization of tenapanor in their respective territories. The company was formerly known as Nteryx, Inc. and changed its name to Ardelyx, Inc. in June 2008.

Upgrade to MarketBeat All Access to add more stocks to your watchlist. The company is scheduled to release its next quarterly earnings announcement on Thursday, November 2nd 2023. The industry with the best average Zacks Rank would be considered the top industry (1 out of 265), which would place it in the top 1% of Zacks Ranked Industries.

  • The company has agreements with Kyowa Kirin, Fosun Pharmaceutical Industrial Development Co.
  • Our data shows that State Street Global Advisors, Inc. is the largest shareholder with 10% of shares outstanding.
  • Therefore we think it advisable to take a look at this free report showing whether analysts are predicting a brighter future.
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  • The Company’s product pipeline includes IBSRELA (tenapanor), XPHOZAH, RDX013 Program, and RDX020 Program.

The technique has proven to be very useful for finding positive surprises. In fact, when combining a Zacks Rank #3 or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time, while they also saw 28.3% annual returns on average, according to our 10 year backtest. Ardelyx Inc.’s investigational kidney disease drug tenapanor failed to meet the primary endpoint of a mid-stage clinical trial in patients with Stage 3 chronic kidney disease with Type 2 diabetes mellitus and albuminuria. Shares in Ardelyx Inc. plummeted more than 70% in after-hours trading Monday, following the biopharmaceutical company’s that the Food and Drug Administration appears unlikely to approve a drug for dialysis patients. The announcement by Novo Nordisk regarding Ozempic takes the wind out of potential Xphozah approval.

To see all exchange delays and terms of use please see Barchart’s disclaimer. Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment. Yigal Nochomovitz’s rating for Ardelyx’s stock is based on a number of critical factors. He predicts a greater than 95% probability for the approval of Ardelyx’s drug, Xphozah, designed for hyperphosphatemia patients on dialysis. This optimism stems from the positive Advisory Committee (AdCom) feedback last November and the Office of New Drugs’ (OND) unusual approval of Ardelyx’s appeal to the initial Complete Response Letter (CRL). Nochomovitz believes this indicates the drug’s approval is almost certain, with label negotiation being the only significant remaining hurdle.

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Ardelyx Inc. shares soared more than 60% in after-hours trading Wednesday, after the company reported positive results for a study of a proposed drug. Ardelyx said a second Phase 3 study of tenapanor, a drug targeting irr… Additional information about your broker can be found by clicking here. Open to Public Investing is a wholly-owned fxtm review subsidiary of Public Holdings, Inc. (“Public Holdings”). This is not an offer, solicitation of an offer, or advice to buy or sell securities or open a brokerage account in any jurisdiction where Open to the Public Investing is not registered. Securities products offered by Open to the Public Investing are not FDIC insured.

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So they generally do consider buying larger companies that are included in the relevant benchmark index. TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Nochomovitz covers the Healthcare sector, focusing on stocks such as Apellis Pharmaceuticals, Coherus Biosciences, and Atara Biotherapeutics. According to TipRanks, Nochomovitz has an average return of 4.1% and a 39.37% success rate on recommended stocks. Banking services and bank accounts are offered by Jiko Bank, a division of Mid-Central National Bank, Member FDIC.

ARDX Valuation Summary

The industry with the worst average Zacks Rank (265 out of 265) would place in the bottom 1%. An industry with a larger percentage of Zacks Rank #1’s and #2’s will have a better average Zacks Rank than one with a larger percentage of Zacks Rank #4’s and #5’s. The scores are based on the trading styles of Value, Growth, and Momentum. There’s also a VGM Score (‘V’ for Value, ‘G’ for Growth and ‘M’ for Momentum), which combines the weighted average of the individual style scores into one score. Plus, ARDX info will be updated daily in your Zacks.com Portfolio Tracker – also free.

XPHOZAH is a medicine for the control of serum phosphorus in adult patients with CKD on dialysis. RDX013 Program is a small molecule potassium secretagogue program for the treatment of hyperkalemia. RDX020 Program is a small molecule for treating metabolic acidosis.

The Company focuses on discovery, development, and commercialization of advanced medicines that meet significant unmet medical needs. The Company’s product pipeline includes IBSRELA (tenapanor), XPHOZAH, RDX013 Program, and RDX020 Program. Tenapanor is a small molecule therapy in development for the treatment of or the control of hyperphosphatemia or serum phosphorus in adult patients with chronic kidney disease (CKD) on dialysis. Tenapanor has a mechanism of action and acts locally in the gut to inhibit the sodium hydrogen exchanger 3 (NHE3). IBSRELA is developed for the treatment of patients with irritable bowel syndrome with constipation (IBS-C).

A closer look at our ownership figures suggests that the top 23 shareholders have a combined ownership of 50% implying that no single shareholder has a majority. Let’s take a closer look to see what the different types of shareholders can tell us about Ardelyx. You have already added five stocks to your watchlist.