- Ardelyx (ARDX, Financial) sees a significant drop in after-hours trading due to underwhelming Q1 results.
- Despite a boost in Ibsrela sales, operating expenses have surged, causing concern among investors.
- Analysts still project strong growth potential with an average price target indicating a potential upside of over 100%.
Ardelyx (ARDX) recently faced a challenging trading session after releasing Q1 results that did not meet market expectations. The company's shares dropped by 14% in after-hours trading. Although Ibsrela sales rose to an impressive $44.4 million, up from $28.4 million the previous year, operating expenses soared by 54% to reach $98.2 million. Despite these headwinds, Ardelyx maintains a robust cash reserve of $214 million.
Wall Street Analysts' Outlook
According to insights from 11 Wall Street analysts, the average price target for Ardelyx Inc (ARDX, Financial) is pegged at $10.95, with projections varying from a high of $15.00 to a low of $5.50. This average target suggests a significant upside potential of 100.27% from the current trading price of $5.47. For a deeper dive into these estimates, visit the Ardelyx Inc (ARDX) Forecast page.
Evaluating Ardelyx's current market standing, 12 brokerage firms have reached a consensus, giving Ardelyx Inc's (ARDX, Financial) an average recommendation of 1.6. This positions the stock in the "Outperform" category on a rating scale where 1 indicates a Strong Buy and 5 means Sell.
GuruFocus Valuation Insights
According to GuruFocus estimates, the projected GF Value for Ardelyx Inc (ARDX, Financial) over the next year stands at $19.79. This estimate points to a potential upside of 261.79% from its existing market price of $5.47. The GF Value is a proprietary valuation metric from GuruFocus, calculated based on historical trading multiples, past growth performance, and future business projections. For further analysis, visit the Ardelyx Inc (ARDX) Summary page.
